The newly revised Convention on International Trade in Endangered Species of Wild Fauna and Flora has officially come into effect, leading to a sharp increase in the price of mahogany furniture. The five-day Eleventh Classical Furniture Collection Fair will reopen at the Xinghai Convention and Exhibition Center tomorrow, offering an exciting opportunity for collectors and enthusiasts. Major domestic mahogany brands will be showcased, and fans of mahogany collections are eagerly preparing for this event. With the rising prices, how should collectors approach this market? Experts from Dalian Yangxintang Classical Redwoods and Xinhuali Co., Ltd. have shared their insights.
The updated convention has significantly impacted the rosewood market, causing continuous price hikes. Since the new rules were implemented, the prices of Siamese rosewood and Da rosewood have increased by 30%, while other types have also seen around a 10% rise. According to current market conditions, after existing inventory is depleted in the next four to five months, merchants will have no choice but to purchase raw materials at much higher prices, which will inevitably drive up the cost of finished mahogany furniture. Pang Yang, general manager of Dalian Yangxintang Classical Redwoods, believes that the overall mahogany furniture market will continue to see price increases in the coming months. He added, "This isn’t the first time we’ve seen a surge in prices. The scarcity of raw materials and the gradual loss of traditional craftsmanship make fine mahogany pieces valuable for investment at any time."
When it comes to buying mahogany furniture, it’s best to have an expert by your side. At the upcoming Eleventh Classical Furniture Collection Fair, how can you choose quality pieces? Pang Yang explained that mahogany is a broad term, encompassing five genera, eight categories, and 33 species under the national standard. Collectors must understand the cultural significance and develop some appreciation skills. Just like Hetian jade, the origin doesn't always determine value. Identification is based on species rather than origin, and the same species can vary greatly in price depending on where they come from. For example, Hainan huanghuali and regular huanghuali differ significantly, as do Laoshan red rosewood and Burmese red rosewood. When collecting, he advised, “Look at three points and examine seven.†Chen Rong, chairman of Xinhuali Co., Ltd., echoed this sentiment, saying that the value of a piece depends on both material rarity and craftsmanship. Investors should carefully distinguish between different varieties and styles. Additionally, he noted that high-end mahogany furniture, such as Siamese or big-leaf rosewood, is often difficult to authenticate due to its high price.
Both experts emphasized that the mahogany market is complex and filled with imitations. For those without professional knowledge, it’s highly recommended to seek help from experienced individuals when purchasing. This ensures better decision-making and protects against potential fraud.
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