Since 2005, the prices of various mahogany raw materials have seen significant increases. Rare types like red leaf sandalwood and Vietnam Huanghua pear have soared from hundreds of thousands to over one million yuan per ton. By 2007, the best Hainan Huanghua pears were being bargained for by the catty. Although mahogany prices remained stable from 2008 onward for several years, the price of Dalbergia altissima (commonly known as Dahong rosewood) began to rise sharply this year. By June, its price had increased by more than 50% compared to the start of the year. This echoes the previous situation where "one tree is hard to find" for Huanghuali.
So why has red rosewood caused such a big impact? On its own, red rosewood is just a type of wood with a long growth cycle. From the mid-Qing Dynasty to the Republic of China period, large-scale harvesting of tropical rainforests in Southeast Asia had already taken place. Today, only a small number of original trees remain. Before the CITES Convention was implemented, many people didn't fully realize the scarcity of these materials. When the CITES Convention was officially enforced, both merchants and buyers suddenly recognized the true value and rarity of red rosewood. However, while the convention may have acted as a catalyst, it was not the sole reason behind the surge in prices.
In the author’s view, the recent spike in red rosewood prices reflects a deeper self-realization of its value—its home use, historical aesthetic, and collectible worth. These multiple layers of significance have driven up the price of red rosewood to a peak this summer.
**One reason for the price increase: the household utility of red rosewood furniture**
During the mid-Qing Dynasty, rosewood and pear wood dominated Chinese hardwood furniture. These two types of timber were once considered rare and expensive. In the Qing era, they were not available to commoners but reserved for royalty. After the mid-Qing period, as these woods became scarce, old mahogany (red rosewood) emerged as a substitute for red sandalwood. It was more abundant, affordable, and not restricted by regulations, making it accessible to the middle class. As a result, red rosewood became a symbol of wealth, taste, and elegance, transitioning from royal aesthetics to middle-class fashion.
Artisans during that time knew three types of Dalbergia wood: black, white, and red rosewood. Yet, red rosewood was most commonly used due to its texture, color, and resemblance to red sandalwood. Its warm, rich hue aligned with the traditional aesthetic values of the time, making it ideal for festive and formal settings.
Today, classical furniture has become part of modern home decor. Whether placed in the living room, bedroom, or study, it adds character and nostalgia to contemporary spaces, enhancing the owner's sense of style and cultural appreciation.
**Second reason for the rise: historical and aesthetic value**
Red rosewood furniture carries deep cultural and aesthetic heritage. Its solid structure, elegant grain, and rich color align with the traditional Oriental preference for crimson tones. It allows modern homeowners, much like the middle class of the late Qing Dynasty, to showcase their wealth and refined taste.
Classical furniture can be seen as a microcosm of ancient Chinese architecture. Its precise joinery, smooth lines, and intricate patterns evoke a sense of solemnity and grace, reflecting the Confucian ideals of harmony and elegance. Placing Ming-style furniture in a study brings a sense of simplicity and sophistication, while Qing-style pieces add a touch of luxury and opulence.
**Third reason for the rise: collection and circulation value**
Beyond its practical use and aesthetic appeal, red rosewood furniture also holds strong investment potential. Middle-to-high-end consumers consider both Huanghuali and rosewood furniture as valuable assets. With limited investment opportunities in the current economic climate, many are turning to red rosewood as a safe and profitable choice.
The cost of red rosewood furniture is flexible, starting at around 50,000 yuan, making it accessible to a wide range of buyers. The combination of material scarcity, traditional craftsmanship, and artistic value makes it an attractive option for preservation and appreciation.
With the implementation of the CITES Convention, red rosewood distributors have been engaging in daily price fluctuations. Consumers, aware of its collectible value, are willing to pay more, following the traditional principle of "buy high, not low." This dual demand has led to a sharp price increase, and red rosewood is on track to follow in the footsteps of Huanghuali.
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