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High-end mahogany is still in a state of constant appreciation
The current price of mahogany furniture has not been hit by a sudden drop, but the upward trend is slowly gaining momentum. Industry insiders know that the more valuable a market becomes, the more attention it draws—and with that attention comes a mix of opinions and speculation. In 2008, the mahogany market was booming, but in 2009, as the economy shifted, it saw a strong rebound. This recovery was so intense that many hesitant buyers later expressed regret for not acting sooner. The long-term value of redwood has always been recognized, especially among industry elites, who have consistently favored its quality and rarity.
China has introduced several legal measures to regulate the mahogany trade, and the countries that supply these materials have also started restricting harvesting and exports. For example, Myanmar, one of the largest exporters of rosewood, announced plans to stop log exports from April 1, 2014. The raw materials used in making mahogany furniture are inherently limited, and species like huanghuali and lobular rosewood are nearly extinct. As the collector base grows and demand increases, the price of redwood continues to rise. Additionally, new national regulations now impose restrictions on certain redwood materials, which could further reduce the supply entering the market and potentially drive prices even higher.
High-end mahogany remains in a state of steady appreciation. Last year’s strong market performance attracted a new wave of younger buyers under the age of 40, who are now becoming a key part of the market. In many furniture stores, regular customers who frequently visit still find themselves impressed by the craftsmanship and value, and their purchasing decisions haven’t been swayed by rumors of a price crash.
In recent years, as the market has improved, numerous new redwood companies have emerged. Some have taken aggressive pricing strategies to gain market share, which has had some influence on the overall price trends. However, this impact is mostly seen in lower-tier products, while the prices of high-end pieces remain stable and continue to hold their value.