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If you have arrived at this page without Knowledge of what a Rug Rag Verification is, see this post
What do these Verification "value" categories mean?
If we have seen the rug in person, we use [RETAIL] Fair Market Value (FMV)
as the basis for some of our verifications. This means in some
instances we take the seller's current asking price and set it into
proportion to what would be considered a "Fair Market Value" for RETAIL
prices after all sales negotiations, discounts and coupons have been
applied. This is
what one would expect to pay today in the current market, at a retail
store*, for a given type, quality, or genre of item in a certain
condition.
About our Classifications/value Categories: Our categories set into proportion what one would expect to pay in a retail store* versus an online advertised price.
"In line with" FMV may be considered within a range of +/- 14% standard market value, set into relation with a retail showroom price*.
"Somewhat Below" FMV, would be an item may be considered within a 15%-24% discount range in relation to a retail showroom price*.
"Significantly Below" FMV means an item may be discounted 25%-50% or more
off of what would be an expected market value within a retail showroom
price*. Keep in mind, while selling online can help reduce costs, it
is fairly uncommon that an item would be in the significantly below
category. This may be a private seller, a importer eliminating the
"middle man," a discontinued item, or liquidation good.
*What we refer to as a "retail showroom price" is a final price
after all sales, discounts and/or coupons were applied. This is much
different than a "Suggested Retail Price"
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