Five thousand years ago, a Hainan Huanghuali Palace Chair was valued at 600,000 yuan. Following the wild fluctuations of the market in 2007 and 2008, the raw materials for mahogany furniture experienced a strong rebound starting from the second half of last year. The mahogany furniture market has seen a noticeable revival, with prices of some rare varieties increasing by as much as five times.
During an interview, it was revealed that Hainan Huanghuali, often referred to as the "Giant Panda" of mahogany, is now almost impossible to find in the Shenyang market. High-grade mahogany furniture, such as large-leaf rosewood, Vietnamese Huanghuali, and rosewood, has seen a sharp price increase.
**Market: Mahogany Furniture Prices Have Surged Fivefold in Five Years**
On April 1st, Mr. Xu, who runs a steel business, visited Luyuan Antique City to purchase a set of mahogany furniture for his newly purchased villa. “I want the best Hainan Huanghuali,†he said. However, the shop owner informed him that Hainan Huanghuali had largely disappeared from the Shenyang market. Not convinced, Mr. Xu checked other antique shops like Shengjing Antique City, Xiangjiang Home, and Xilaiju, but received the same response.
When media visited several mahogany furniture stores, including Luyuan Antique City, Shengjing Antique City, and Xiangjiang Home Expo Center, they found that sales were brisk and prices had significantly increased. “These two court chairs are made of Vietnamese Huanghuali, and their current price exceeds 100,000 yuan—five times what they were five years ago. If they were made of Hainan Huanghuali, they would cost at least 600,000 yuan,†one seller explained.
Wu Bingliang, vice chairman of the China Traditional Furniture Professional Committee, confirmed this trend. He noted that high-end mahogany furniture differs from previously overhyped items like Pu'er tea or Clivia. Limited by natural resources, its value is growing at a rate of about 200% per year.
**Reason: Raw Material Prices Have Reached Historical Peaks**
Guo Zhifeng, manager of Shenyang Luyuan Antiques City, stated that Hainan Huanghuali is the finest type of mahogany, yet it's now extremely difficult to find in Shenyang.
Wu Bingliang explained that the scarcity of Hainan Huanghuali is due to its non-renewable nature. Trees used for furniture take 300–500 years to mature, and most have already been cut down. This shortage isn't limited to Hainan Huanghuali; high-grade mahogany furniture relies on imports from Vietnam and India. Due to international environmental restrictions, the supply of materials like lobular rosewood, Vietnamese Huanghuali, and rosewood has declined sharply each year.
Meanwhile, the number of affluent collectors and investors seeking mahogany furniture has doubled, driving prices beyond the peak seen in 2007. For example, the price of Hainan Huanghuali’s corner material has reached 5,000 yuan per kilogram, while lobular rosewood raw material now costs 300,000 to 800,000 yuan per ton. Vietnamese Huanghuali has jumped from 98,000 yuan per ton in 2005 to 1–2 million yuan today, surpassing the 2007 peak. Siamese rosewood has even risen by 5% monthly, with top-quality material now reaching 4–5 million yuan per ton.
**Recommendation: Mahogany Furniture May Not Be a Wise Investment**
Sun Wei, president of the Shenyang Chamber of Commerce Antique Chamber, believes that with raw material shortages, mahogany furniture prices will continue to rise. He suggests that investing in mahogany furniture could be a good option, with potential annual returns of around 30%.
However, Guo Zhifeng cautions that not all mahogany furniture holds investment value. It depends on the quality of the wood, craftsmanship, and age of the piece. Wu Bingliang agrees, adding that while mahogany furniture is more stable than stocks, the market is still mixed, with many counterfeit products. Those without knowledge should avoid hasty purchases and carefully distinguish between genuine and fake items.
He also advises investors not to focus solely on the rarest types like Hainan Huanghuali or Vietnamese Huanghuali. Black and red rosewood furniture also offer strong appreciation potential.
For more information, visit the official website of Xianghe Furniture City.
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