Hetian jade market soared 2 to 3 times this year
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According to a report by the Chongqing Morning Post's "Chongqing Morning" section, the Hetian jade market has seen a slow growth of 5% to 10% year-on-year, described as a "tortoise pace." However, this year has witnessed a dramatic surge in demand for ultra-high-end varieties, with some prices increasing by as much as 2 to 3 times, and in certain cases, even 100 times higher.
Master Xue Chunmei, a renowned Chinese arts and crafts master and researcher at the Yangzhou Jade Research Institute, who has been involved in the jade industry for over 30 years, shared her insights. She noted that over the past three decades, Hetian jade has never experienced a price drop. However, this year’s price increase is the most significant she has observed in her career.
"In the first half of last year, it was possible to find one-kilogram pieces for around 100,000 yuan, but this year, even 300,000 to 400,000 yuan may not guarantee availability," Xue said. Since 2005, the annual growth rate of Hetian jade prices has exceeded 40%, and by the end of 2008, the market saw a sharp upward trend. After the Spring Festival, prices continued to climb steadily. This year, the upward movement has become even more intense, with the better quality materials seeing the highest increases.
Shen Yumei, deputy manager of the Guangzhou Cultural Relics Head Office, explained that Hetian jade remains highly sought after due to its high value. However, the material value is just one aspect. More importantly, it carries deep cultural significance, including the essence of ancient Chinese jade culture and the historical legacy of Qing Dynasty palace collections. These elements contribute to the "halo effect" that enhances its value.
She advised collectors to be cautious, reminding them to understand the factors that previously drove hot money into the market and inflated prices. By doing so, they can avoid over-optimism and potential investment losses. As the market continues to evolve, staying informed and making thoughtful decisions are key to long-term success in the jade trade.