Jewelry jade market interpretation crazy stone

In 2010, the art market experienced a "crazy rock," with prices of various types of jade skyrocketing. Whether it was Hetian jade, known as the national jade, or imported jade, or even Huanglongyu, whose authenticity remained uncertain, all saw dramatic price increases. People were talking about it everywhere. Newton once said, “I can calculate the trajectory of the celestial body, but I cannot calculate human madness.” Today, when this madness strikes the world of jewels, even Newton might be at a loss. Emerald prices doubled during this period. In 2008 and 2009, amid the financial crisis, high-quality jadeite stones began to rise in value. By April 2010, the price of high-quality ice jadeite had surged from 1 million yuan per kilogram in 2009 to over 2 million yuan. High-quality glass jadeite also saw massive price jumps, with some reaching several million yuan per kilogram. The top-tier glass jadeite could cost tens of millions per kilogram. Behind these soaring prices stood a growing consumer demand. According to the China Jewelry Industry Association, annual jewelry sales in China exceeded 200 billion yuan in 2010. Among them, jadeite alone accounted for about 400 billion yuan in sales, making it the "king of jade." 2010 marked a milestone for emerald. Yangon, Myanmar became a hotspot for investment capital and Chinese jade merchants. Two major jade auctions set new records, with prices hitting 10 billion yuan. A staggering 80% to 90% of the total turnover came from investors bidding on jade stones. Over the past 20 years, the amount of jadeite extracted from Myanmar’s mining regions has equaled 10 times the total mined in 300 years. It's possible that Myanmar may soon run out of jade. As a result, resources like ice and glass jade have become scarce, and domestic investors have flooded the market, widening the gap. This is why the phenomenon of "crazy jade" has become inevitable. Experts suggest two main reasons for the current jade market situation. First, there’s strong buyer interest. In China, there's a long-standing tradition of using gold during tough times and collecting jade during prosperous periods. Jadeite is easy to identify, with a high accuracy rate, unlike other collectibles which are harder to authenticate. With more people entering the market, demand has grown significantly. On the supply side, the jadeite market is highly centralized. Only Myanmar supplies raw materials, and its exports are strictly controlled through government-run auctions. While raw material prices started rising in 2009, the retail market saw the effects later, usually with a lag of 3 to 6 months. Song Yunfeng, general manager of Beijing Runbaoxuan Jewelry Co., Ltd., believes that as people's spending power increased, along with traditional cultural influences, jade and jewelry have taken on greater investment and value-added roles. This makes jewelry a dual-purpose item—both for consumption and investment. Strictly speaking, jade investment falls into two categories: raw jade (bare stone) and finished jewelry. The former is easier to evaluate, while the latter depends on factors like metal weight, design, and craftsmanship. Jewelry and jade are non-renewable resources. As natural reserves shrink, their scarcity will likely drive prices higher. Like heirloom items, fine pieces offer significant appreciation potential. Liang Jiantao, manager of Guangzhou Cultural Relics Head Office, noted that finished products often lag behind raw material prices. Therefore, 2010 was a good time to enter the jade and white jade market. Bi Lijun, deputy director of the Ministry of Land and Resources’ Jewelry Management Center, recently told the media that hot money is fueling rising prices. Emerald prices have doubled this year, with some high-end varieties increasing by 2-3 times. With limited resources, future price increases are expected, especially for premium jade and white jade. Cheng Youfa, director of the National Gold Diamond Products Quality Supervision and Inspection Center, predicts that jade prices will continue to rise as raw materials become scarcer and more investors enter the market. Investors must remain cautious. While market speculation has driven up prices, not all increases are justified. Cheng Youfa pointed out that without artificial inflation, a 10-20% annual increase is reasonable. However, some rare jades with historical significance may see extreme price jumps at auction. Jade and jewelry investment is no longer limited to private capital. Large corporations now offer financial products involving precious stones. Real estate developers and coal magnates from Wenzhou and Shanxi have also poured money into jade investments. Though "gold has no price, jade is priceless," investors shouldn’t expect immediate returns. The market carries hidden risks, so careful selection is essential. Internationally, high-quality colored gemstones have seen the most dramatic price increases. Over the past 20 years, ruby and jadeite prices have risen nearly tenfold. Li Fufen, a senior engineer at the British Gemological Society, emphasizes that gemstone collecting should be based on a broad understanding of different types. When investing in jade, clarity is key. Investors should understand the nature and quality of jade, compare it with other market options, and determine whether it's truly rare or holds historical value. Rushing into purchases without proper research can lead to poor decisions.

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