In just under four months, the price of mahogany furniture has surged by at least 30%, especially during the Spring Festival period. Many affluent individuals in our city have started to view mahogany furniture as a promising investment, and numerous products are now selling out quickly. A significant 10% increase was recorded within just one month. Mr. Wang recently purchased a set of mahogany sofas before the Spring Festival. The furniture was made from Laotian red rosewood and cost him 250,000 yuan. A month later, due to rising material costs, the value of the furniture had increased by 10%. Mr. Wang shared, “At the time, we were renovating our new home and wanted to buy some mahogany furniture for both use and investment. We didn’t expect it to generate profit so quickly.” The sharp rise in prices can be attributed to the increasing scarcity of raw materials, along with stricter logging regulations imposed by countries like Vietnam and Laos, which are major sources of mahogany. This has led to a significant spike in domestic furniture prices around the Spring Festival. Zhang Haisheng, the owner of Guiming Redwood Furniture, a leading international furniture store, mentioned that compared to the Home Fair held last October, the price of premium materials has gone up by at least 30%. For example, the price per ton of red rosewood has jumped from over 70,000 yuan to more than 170,000 yuan. Similarly, the price of Burmese pearwood has risen from 9,000 yuan to over 1.3 million yuan per ton. The prices of high-end materials have become even more expensive. Today, the exhibition hall in Zhang’s shop is mostly empty, with only a few sets of sofas and dining tables left as samples. During an interview, several customers came asking, “Zhang boss, has it arrived yet?” Zhang replied reluctantly, “We’re waiting too fast.” He explained that sales were booming before and after the Spring Festival, with beds, desks, and wardrobes all selling out quickly. There are currently six customers waiting in line. Who are the main investors in mahogany furniture? A single set can cost at least 10,000 yuan, with mid-range options reaching 2 to 3 million, and high-end pieces costing tens of millions. Ordinary wage earners find it hard to afford such items. According to Zhang, those who purchase mahogany furniture often aim to showcase their status and also treat it as an investment. Most of his customers are people with social influence or business professionals, typically choosing mid-range or lower-end products. When it comes to selecting materials, buyers should be cautious. The high price of mahogany furniture is mainly due to the rarity of raw materials. Although some species can regenerate, it takes several hundred years for them to mature. Some rare types are now nearly extinct. To choose quality mahogany furniture, Zhang advises buyers to focus on the material. Among the various types of pearwood, Hainan pear is the most valuable, with prices reaching over 800 million yuan per ton. On the other hand, African pearwood is much cheaper, with prices below 10,000 yuan per ton. Zhang also warned that there are many low-quality or fake mahogany furniture items on the market. Those interested in investing should educate themselves before making a purchase. “Some fakes are easy to spot,” he said. “For example, if someone sells Hainan Huanghuali furniture, it’s definitely fake. That type of wood is extremely rare and expensive, and only a few small pieces are available on the market.” For ordinary workers looking to invest in mahogany furniture, Zhang suggests starting with smaller items like pen holders, decorative carvings, or small furniture sets, such as three-piece chairs. These items range in price from a few thousand to twenty thousand yuan, making them affordable for most families. Some investors believe that current prices have reached a peak and suggest waiting for a potential drop. Citizens unfamiliar with the mahogany furniture market are advised to proceed with caution when considering investments.

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