The inspection and quarantine department of Guangdong Province has noted that Myanmar's decision to suspend log exports this year is part of a growing global trend among nations aiming to preserve their natural resources. This move aligns with the newly revised "Convention on International Trade in Endangered Species of Wild Fauna and Flora" (CITES), which came into effect on June 12, 2024. The updated treaty now includes seven important mahogany species in its first and second-level protected plant lists, significantly restricting the trade of these materials. As a result, the availability of raw mahogany in the market has dropped sharply.
Industry experts believe that with the decreasing supply of high-quality mahogany, the craftsmanship of finished furniture and the expanding collector base could drive up the value of mahogany furniture in the future. This trend suggests that the appreciation potential of such pieces may continue to grow as scarcity increases.
In recent months, there has been a noticeable surge in interest in rosewood furniture within the investment market. Before June, the price of Laos red rosewood was around 30,000 to 50,000 yuan per ton. By late July and early August, the price in Xianyou, Fujian, had climbed to 50,000 to 70,000 yuan per ton. Although the increase in raw material costs wasn’t yet fully reflected in finished products—only about 10–20%—the demand was so strong that items were being sold out almost instantly.
This year, the price of domestic mahogany furniture has seen a sharp rise. High-grade mahogany raw materials have increased by over 100%, while lower-grade options have risen by 30–50%. According to the latest weekly review from China Timber Net on November 29, Myanmar timber, especially high-end Burmese rosewood, has become highly sought after. The price of 15cm diameter Burmese rosewood in the market exceeds 30,000 yuan per ton, though quality varies. Meanwhile, Dali Dalbergia prices have doubled since June, and the price of Dalbergia (commonly known as "Burmese flower branch") has also doubled, rising from 16,000 to 32,000 yuan per ton. Despite these high prices, the market remains extremely active, with goods selling quickly.
Additionally, large quantities of red sandalwood—often referred to as "Myanmar rosewood"—which had previously gone out of stock, have recently returned to the market. However, as soon as these goods arrived, they were quickly taken by traders. The current market price for Daguo rosewood has reached 26,000–28,000 yuan per ton, and the price continues to climb, making it even more attractive to investors.
As the supply of raw materials decreases each year, the trend of rising furniture prices becomes more evident. The new CITES regulations have made it more difficult to import certain types of wood, leading to stricter controls on trade. For example, Vietnam has raised export taxes on rosewood raw materials by 200% starting in May, and by mid-October, customs authorities in Vietnam and Laos informed Chinese partners that all orders must be completed before October 25, after which exports will be banned. Similarly, Myanmar plans to stop exporting logs from April 1, 2024.
Only rosewood furniture with artistic value can truly add long-term worth. While the material itself holds significant value, the craftsmanship and cultural significance of the piece are equally important. Since 2007, the price of mahogany has surged dramatically, and the investment market has shown strong interest. However, many investors focus only on the material value without considering the artistry involved.
In the next 2–3 years, the mahogany furniture market is expected to remain volatile, with prices continuing to rise. Investors and collectors should approach the market rationally. Many consumers have invested heavily in high-end mahogany furniture over the past two years, sometimes purchasing large quantities before the CITES regulations took full effect. While current purchases may be reasonable, some buyers lack proper knowledge about mahogany and its cultural significance, leading to misguided investments.
Investing in redwood furniture is different from real estate. To achieve true value preservation and appreciation, one needs a solid understanding of the materials and the culture behind them. Culturally valuable redwood furniture is not just a purchase—it’s an investment rooted in heritage and artistry.
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