Jewelry jade market interpretation crazy stone

In 2010, the art market experienced a “crazy rock,” with jade prices soaring across the board. Whether it was Hetian jade, known as the national jade, or imported jade, or even the still-unverified Huanglongyu, all saw dramatic price increases. People were talking about it everywhere. “I can calculate the trajectory of the celestial body, but I cannot calculate human madness,” said Newton, and now, when “craziness” hits the world of jewels, even Newton might be at a loss. Emerald prices doubled in 2010, marking a significant shift in the market. During the financial downturn in 2008 and 2009, high-quality jadeite stones had already started to climb. By April 2010, the price of high-quality ice jadeite rose from 1 million yuan per kilogram in 2009 to over 2 million, while glass-type jadeite reached several million yuan per kilogram. Top-grade glass jadeite could cost tens of millions per kilogram. Behind this surge in jewelry and jade prices was a growing consumer demand. According to statistics from the China Jewelry Industry Association, annual sales of jewelry in China exceeded 200 billion yuan in 2010. Among these, jadeite alone accounted for around 400 billion yuan, solidifying its status as the “king of jade.” 2010 also marked a milestone for emerald. Yangon, Myanmar became a hotspot for investment capital and Chinese jade merchants. Two major jade auctions set records, reaching 10 billion yuan in total. Investment funds dominated the bidding process, accounting for 80% to 90% of total transactions. Over the past 20 years, the extraction of jadeite in Myanmar’s production areas has been equivalent to the total extracted over 300 years. It's possible that Myanmar may have little jade left to mine. This scarcity, combined with increased domestic investment, has widened the market gap, making the phenomenon of “crazy jade” inevitable. Experts point out two main reasons for the current jade market situation. First, demand from buyers. In China, there's a long-standing tradition of “investing in gold during hard times and collecting jade during prosperous times.” Jadeite is easy to identify, with authenticity nearly 100% verifiable. Other collectibles are more difficult to assess. With more people entering the market, demand has surged. On the supply side, the jadeite market is heavily dependent on a single source—Myanmar. The country tightly controls jadeite resources, allowing only government-organized public auctions. While raw material prices began rising in 2009, the impact on retail took time to show, typically lagging by 3 to 6 months. Song Yunfeng, general manager of Beijing Runbaoxuan Jewelry Co., Ltd., believes that as people's spending power increases, and influenced by traditional Chinese culture, jade is no longer just for daily wear—it has become a powerful investment tool. Thus, jewelry now carries both consumption and investment value. When it comes to investing in jewelry and jade, there are two aspects: raw jade (bare stone) and finished jewelry. The former is easier to evaluate based on quality, while the latter also depends on the weight of precious metals used and the design and craftsmanship involved. Jewelry and jade are non-renewable resources. As mineral resources become scarcer, the number of available pieces decreases. Like heirlooms, finely crafted items offer greater appreciation potential. According to Liang Jiantao, manager of the Gold Ornaments Department at the Guangzhou Cultural Relics Head Office, finished product prices 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 Jewelry and Jewelry Management Center under the Ministry of Land and Resources, recently stated that jewelry is currently being sought after by hot money, with prices rising sharply. Emerald prices have doubled this year, and some high-end varieties have seen increases of 2 to 3 times. Given the scarcity of jewelry resources, prices are expected to continue rising, especially for high-grade jade and white jade. Cheng Youfa, director of the National Gold Diamond Products Quality Supervision and Inspection Center, predicts that as raw materials deplete and more investors enter the market, jade prices are likely to keep climbing in the coming period. However, investors must remain cautious. In the jewelry and jade field, there's a saying: “Thousands of dollars are not expensive, ten thousand yuan is not unusual. A million is considered heavenly.” But ultimately, prices can’t be inflated forever. Speculation drives up prices, and without a real market, the industry can’t grow. Cheng Youfa noted that excluding artificial speculation, a 10–20% annual increase in jewelry prices is reasonable. However, some rare jades with historical significance can see massive price jumps at auction. Investing in jewelry and jade is no longer exclusive to private capital. Large groups are now offering investment-grade jade and other precious stones through financial products. Real estate developers from Wenzhou and coal tycoons from Shanxi are pouring large sums into jade investments, either in raw stones or finished pieces. While “gold has no price, jade is priceless,” this doesn’t mean every purchase will double in value overnight. Hidden risks exist, so careful selection is crucial. In terms of variety, international markets show that high-quality colored gemstones have seen the most significant price increases. Over the past 20 years, high-end rubies and jadeite have risen nearly tenfold. According to Li Fufen, senior engineer at the British Gemological Society, collecting gemstones should be based on a broad understanding of different types. When it comes to investment amounts and returns, investors should remember that jade investments can vary in scale. When investing, it’s important to stay informed about the nature and quality of the jade. Comparing it with other jades in the market helps determine if it’s truly rare or holds historical significance. Rushing into purchases without proper knowledge can lead to losses.

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