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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 becoming more gradual over time. Insiders know that the more valuable a market becomes, the more attention it draws, and the more varied the opinions become. In 2008, the mahogany market was highly praised, but in 2009, as the market turned around, it saw a strong rebound. This recovery was so intense that many hesitant buyers now look back with regret. The long-term value of redwood, which has always been natural and inherent, continues to attract industry elites.
China has introduced several legal measures regarding mahogany, and the countries that supply these materials have also started to restrict harvesting and exports. According to reports, Myanmar, one of the main exporters of redwood, planned to stop log exports starting April 1, 2014. The raw materials used for making mahogany furniture are inherently scarce, and some like huanghuali and lobular rosewood are nearly extinct. With the growing interest from collectors and rising demand, redwood prices have continued to climb. The new "National Convention" has imposed restrictions on certain redwood materials, meaning fewer raw materials will enter the market, which could further drive up prices.
High-end mahogany remains in a constant state of appreciation. Last year’s strong market performance attracted a new wave of younger buyers under the age of 40, who are now becoming a major force in the industry. In many mahogany furniture stores, regular customers often come in without making immediate purchases, but the buyers who do make purchases remain unaffected by the rumors of a price plunge.
In recent years, as the market has improved, numerous new redwood companies have emerged. Some of them compete aggressively through pricing, which can influence the overall market trend. However, this impact is limited to certain products, while the prices of high-end items continue to remain stable. Despite market fluctuations, the demand for premium mahogany furniture shows no sign of slowing down.