In order to select benchmark investment products in the field of investment collection in recent years, mahogany furniture is well deserved. Since 2006, mahogany furniture has generally increased by five times, and the most sought-after Hainan huanghuali furniture has risen more than 100 times in ten years. For a time, mahogany furniture was crowned with the name of “only ups and downsâ€, and merchants even introduced an attractive repurchase policy to ensure that prices increase by more than 10% per year. But this year's situation seems to have changed. In some furniture markets in Hangzhou, many mahogany merchants have given the best price, which is almost 40% to 60% of the original price. The discount of mahogany furniture was at the door of a mahogany sales area in the Ouyada furniture market in Hangzhou. A billboard with “funding, low-cost cash†was placed in a prominent position. At the end of last month, the local large-scale mahogany furniture manufacturer in Fujian issued a notice to adjust the price of the company's mahogany furniture. Among them, Laos rosewood fell from 839 yuan/kg in May to 399 yuan/kg, a drop of 52.4%. Myanmar rosewood fell from 459 yuan / kg to 219 yuan / kg, a decline of more than 50%. At the same time, the price reduction is also owned by its mahogany crafts. According to the official website, the price of Laos red rosewood material is sold at one-half of the original price, and other materials are sold at a quarter of the original price. “The price cut is to withdraw funds, pay rent, employee wages, etc.†The sales staff in the store did not avoid such a large price cut. “From the second half of last year, the sales situation is not good, compared with the same period last year. It’s nearly half the difference.†The price cuts are not limited to this one. Many merchants directly put the “Best price†label on the product, indicating the original price and the current price. In the Oriental furniture market, two rosewood circle chairs were reduced from 6,000 yuan to 4,000 yuan; two sets of hedgehog rosewood Arhat bed, the original price of 36,800 yuan, the current price of 14,800 yuan, equivalent to a 4.5 fold. “We only used 25% off here and recently had to launch a 60% discount on special items to attract customers.†A salesperson of a brand redwood store said that she had a five-piece chair made of Laos red rosewood in her store. The price after the return is almost back two years ago. The furniture manufacturer's order cuts by half. The sharp price cut of mahogany furniture comes first from the changes in the raw material market. Since the end of last year, the price of strong redwood materials has been slowly falling, and most of the mid-end wood species have seen price cuts ranging from 10% to 15%. For example, the price of small and medium-sized materials in Laozao rosewood has fallen by 10%-15%. The price of lobular rosewood also fell by 10%-20%. “The main focus is on mid-range materials, and there are no significant changes in high-end and low-end.†Xu Xing, who runs a mahogany factory in Fujian, said. However, he does not believe that the fall in material prices is the main reason for the sharp price cuts of mahogany furniture. "The main reason is that demand is weak and the market is too low." According to Xu Xing, the wholesale orders he received in the first half of the year were only about half of last year. At this time of the year, he and his workers worked overtime almost every night, but now, he often does not work during the day. A mahogany merchant said that in the first half of this year, he sold only 6 pieces of mahogany furniture, almost one per month, which was 40% lower than last year, but the water and electricity fees and rents to be paid increased. Xu Xing said that in recent years, the operating costs of mahogany furniture manufacturers have continued to rise, especially in the past two years, the wages of processing workers have risen by more than 50%, and the cost of opening stores has also risen with rents. Many mahogany traders are operating on loans. Once sales are not smooth, there will be problems with capital turnover. Therefore, some small-scale processing and agents to cut prices to survive is also reasonable. According to him, a large local redwood manufacturer in Fujian has reported the news of bankruptcy. The reason is that the previous store opening and advertising investment is too large. In the short term, it is difficult to stabilize and rebound. “The sales volume in the first half of the year has dropped by about 30% compared with previous years.†Mr. Feng, who runs mahogany furniture in Wushan Tongbao City, said. Because he set up his own factory and has other sources of income, he has not discounted the furniture, but he has already felt the threat of large discounts on mahogany furniture. Although the current raw material prices have not fallen sharply, Mr. Feng does not dare to say that the mahogany furniture market will stabilize and rebound in the short term. “The overall economic downturn, consumption contraction is also a normal phenomenon, and now we can only take a step and look at it.†Xing appears that the rose of mahogany furniture is on the one hand due to the increase of market recognition, and more importantly, with the skyrocketing price of mahogany, people began to look at mahogany furniture with an investment perspective, which is mixed with hot money speculation. Take Vietnam's huanghuali as an example. In November 2010, the price was still at 1,600 yuan/kg. In January 2011, it rose to 3,900 yuan/kg, and the three-month increase was more than doubled. In the meantime, a large amount of hot money from Guangdong and Fujian flooded into the Vietnamese huanghuali market, and industry insiders estimated that the funds would not be less than 2 billion. In 2008, Xu Xing sold a set of mahogany chairs to friends at hundreds of thousands of prices. According to the current market, the set of chairs is worth at least two million, but it is difficult to find a person to take over in the market. "Because the rise is too fast, A lot of mahogany furniture is in a situation of pricelessness." Recently, Wu Bingliang, deputy director of the China Traditional Furniture Professional Committee, predicted in an interview with the media that there will be a significant correction in the prices of mahogany raw materials and mahogany furniture in August and September this year. The news link collection market overall downturn mahogany furniture in the cold is only the tip of the iceberg in the first half of this year. In the economic downturn, investors are clearly more committed to the security of funds. At the beginning of this year, the postal market index on the stamp trading website was 2301 points, and then rose to 2769 points. However, after mid-March, it went all the way down. It is currently at 2235 points, compared with the beginning of the year, the decline is about 19 points. %. The purchase price of a round of monkey tickets as a weather vane has dropped from 10,000 yuan to 8,000 yuan at the end of last year. The Spring Festival speculation to 438 yuan / Zhang three rounds of the big version of the ticket fell to 392 yuan / Zhang. Gold and silver coins were affected by the decline in international gold and silver prices. Many varieties had a decline of more than 30%. The Beijing Olympic gold and silver coins fell more than 50% from the same period last year. In the paper currency market, the early hot spots - Hong Kong and Macao, the 100-year-old commemorative banknotes of the Bank of China have fallen back, close to the highest point. The price of jadeite in the Jade Publicity has increased several times in recent years, but in the latest Burmese rough stone, the number of participants has dropped by more than 80%. In the jade wholesale market in Guangdong and Yunnan, wholesalers have rarely been seen. According to Liu Yusheng, general manager of Yufuxiang, sales in the first half of this year have dropped by about 10%. He is trying to do something to attract people. And some smaller businesses have begun to cut prices slightly to boost sales. Hong Ronghui, president of Guangdong Jieyang Arts and Crafts Industry Association, said in an interview with CCTV that the price of jadeite products of colorless ice and glass species has been lowered by 20%-30% year-on-year, and products of less than 100,000 yuan have fallen by 10%. The following jade products are about 30% lower. According to the statistics of Artron Art Network, as of the beginning of June, the total number of works on art was 137,600, which was nearly 50% shrinking compared with the same period of last year. The total number of transactions was 59,000, only 40.7% of the number of transactions last year. The total turnover was 11.551 billion yuan, only 25% of the spring auction last year. Masterpieces such as Zhang Daqian, Qi Baishi, Xu Beihong, etc., which have been widely sought after in recent years, have also been cold. (Editor: JN101)
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