Contemporary rugs can be defined as those rugs which have their designs derived from works of modern arts or artists like Warhole and others. These differ from Traditional rugs from the great ancient rug centers of the world like Persia and India in the way they look, if not in the way they feel. Their designs are often more colorful and vibrant compared to the subdued colors of old rugs. Often offered at discount prices compared to traditional rugs, these contemporary rugs are household items for many middle class homeowners.

A large number of contemporary rugs are inspired by twentieth century decorative arts. Some of the more well known modern rugs like these include Andy Warhole rugs, Foreign Accents rugs, Plum Blossom from Karastan, the New Wave collection from Momeni and other brands. Big designer brands like Calvin Klein and Brink and Chapman have also come up with their own brands of contemporary rugs; unlike other modern rugs, these brand name rugs do not always come at deep discount.

People yet buy them, because discount price is not the only attraction for these rugs. These rugs are often signature branded rugs, meaning that they exclusively represent the lifework of some famous artist. Their design and style will offer the owner an exclusivity, and will imply into onlookers a sense of the identity and class of the rug owner.

The roots of contemporary and modern rugs trace back to abstract impressionism and Art Deco. They can be lush shag rugs, wood or leather deco or even braided rugs. But all carry in them the unmistakable aura of modern contemporary art, and remind one of the just ancient days before the wars when impressionism was having its traumatic birth in western Europe. As such, to a discriminating and knowledgeable buyer, their value is endless.