In the past year, the domestic mahogany furniture market has experienced a significant slowdown. Since the second half of last year, demand for mahogany furniture has been declining, and "price reductions" in redwood furniture have quietly emerged in the market. For consumers, is it truly a good time to buy mahogany furniture? Industry experts suggest that while the market may be at its lowest point, prices are influenced by various factors, and investing in mahogany products requires careful consideration over the long term.
During a recent visit to a mahogany furniture store in Beijing, the reporter observed that several well-known brands such as Yuxiang Redwood, Tingmei Redwood, Yunlonghai, and Hong Dingge had closed their doors. In many stores, salespeople were offering discounts significantly below the listed prices. At one store, Jinqiyuan Redwood, a salesperson mentioned that a Dahongjiao Duobao Pavilion, originally priced at 70,000 yuan, was now available for 35,000 yuan, stating, "The market isn’t doing well right now, and the price is very real—sell it if you can."
Previously, during another visit to a similar store, the mahogany section remained largely empty despite being a peak season. Many stores had shut down, and those that remained had few customers. One store owner explained, "Since the second half of last year, business has been poor. Things haven't improved this year, and many merchants are struggling with high rent and have decided to move out."
Market analysis shows that the mahogany furniture sector has seen a sharp decline in prices since mid-2014. According to the China Redwood Committee’s National Redwood Products Market Prosperity Index, the index fell continuously from May 2014, dropping 22.4% year-on-year in April 2015. The new order index fell by 14.5% year-on-year, and production volume dropped by 12.7%. These figures reflect weak demand and significant downward pressure on the industry.
The drop in prices is partly due to falling raw material costs. For example, Burmese rosewood has fallen by at least 50% compared to 2013, while Daye rosewood, which once reached 300,000 yuan per ton, now sells for around 70,000 yuan. Similarly, Laos sour branch rosewood has dropped from over 200,000 yuan per ton to 134,000 yuan, and lobular rosewood, once priced at 1.2 million yuan per ton, now costs about 800,000 yuan.
Additional factors include the 2013 CITES Convention, which restricted trade in certain materials like Sian Dalbergia (Laos), leading to a surge in prices earlier. This early overconsumption contributed to the downturn in 2014. Combined with a slowing economy, housing market declines, and anti-corruption efforts, the mahogany market has faced multiple challenges.
Industry insiders note that during market downturns, consumer behavior often shifts toward buying high and avoiding low prices. However, premium mahogany furniture still holds value, and many brands have shifted focus to high-end boutique pieces to attract affluent buyers. For consumers, the current environment may present an opportunity to purchase quality furniture at reduced prices.
When purchasing, it's advisable to choose materials that are widely recognized, such as red rosewood or lobular rosewood, which have proven value and strong market recognition. Be cautious of cheaper alternatives that may not offer the same appreciation potential. For those with genuine needs, the current market offers great value, as many items are selling close to or even below material cost. High-quality mahogany furniture could see steady appreciation over time, making it a wise investment for the future.
For more information on the Chinese furniture industry, visit the official website of Xianghe Furniture City.
Premium Charcoal Grill,Authentic BBQ Charcoal,Outdoor Charcoal Grill
GFTOP , https://www.ovenchief.com