Clean the rug thoroughly before storing it. Professionally clean expensive, quality rugs to preserve their color and keep them in the best condition.
Spray the rug with a moth repellent. Moths eat natural fibers such as wool, and can easily ruin your rug. Let the rug dry completely.
Lay the rug on a flat surface with the right side up.
Place a cardboard or wooden rod along one end of the rug, and roll the rug around the rod. Use a rod thick enough that you can roll the rug loosely. The rod should be a few inches longer than the width of the rug, so the rod pokes out of the ends. Don't attempt to save storage space by rolling the rug up tightly, because this can break the rug backing and weaken the wool fibers.
Tie the rug with a piece of string. Tie it snugly, but not tight enough that there will be a ridge left in the rug. Tie the rug in 12-inch intervals to secure it.
Wrap the rug with an old sheet or a large cloth. Don't wrap it in plastic, because the rug needs air circulation to survive storage without getting damaged.
Store the rug in a dry space to avoid mold damage. Don't place the rug on a floor or near a wall, in case of a flood or leak.