The price of 300,000 kilograms of fine white jade seeds has turned up to 100 times in ten years

The fascination with white jade has reached a fever pitch. Following the frenzy of hot stocks, real estate speculation, and even "fried garlic" (a metaphor for speculative investments), capital has now flooded into the art collection market. White jade, long revered as a symbol of prestige and honor since ancient times, has become a favorite among investors. At Beijing Antique City, the white jade scene is buzzing. During the second Autumn Antiques Art Fair held from September 24 to 27, a dedicated white jade exhibition area was set up, featuring an original stone street from Xinjiang. Merchants from major processing and raw material regions gathered in Beijing, creating what is considered the largest white jade fair in China. Yang Shi, deputy general manager of Tianya Antiques City, noted that after the financial crisis, the trend of individual collectors acquiring antiques has evolved into a broader market revival. A surge of idle funds is entering the antique market, and white jade has become one of the most popular collectibles among ordinary consumers. Many people now wear jade pendants and bracelets, highlighting the growing popularity of jade collections. Historically, the top-grade white jade during the Ming and Qing dynasties was known as "seeds," typically referring to Hetian Baiyu from Xinjiang. Today, the domestic white jade market includes not only Xinjiang Hetian jade but also Qinghai jade and Russian white jade. Due to differences in origin, the value of these jades varies significantly. Among them, Xinjiang Hotan white fat jade holds the highest value. Zhu Jingyu, general manager of Beijing Antique City, explained that due to variations in origin, variety, and quality, the price appreciation differs across types. In this decade, the price of ordinary white jade has increased more than tenfold, while Xinjiang Hetian jade has risen over 100 times. The price of the finest white jade seeds can reach as high as 231 million yuan per kilogram. It’s reported that the annual price increase for white jade, including Xinjiang, Russian, and Qinghai varieties, has exceeded 30%. Yang Shi added that in the 1980s, the price of white jade wool was just 20 yuan per kilogram. After two or three decades of appreciation, its value has multiplied many times. Now, the price of Xinjiang Hetian jade has climbed to hundreds of yuan per gram. Currently, gold costs about 270 yuan per gram, while the finest Hetian jade seed reaches 400 to 500 yuan per gram—making it more expensive than gold. Zhu Jingyi pointed out that unlike gold, which has a fixed standard, white jade prices vary greatly depending on origin and quality. Therefore, buyers must rely on their own judgment when investing in white jade. Throughout history, white jade has been a symbol of nobility, valued for its warm and elegant texture. One of the most famous examples is the “Jade of the Spring and Autumn Period,” regarded as an irreplaceable treasure. Even during the Qin Dynasty, there were reports of exchanging 15 cities for a piece of jade. This noble status has never faded. In recent years, auction houses have continued to set new records. On November 11 this year, a Qianlong-era imperial white jade plaque will be auctioned by London Bangshou porcelain. It bears the inscription “Self-Improvement.” Meanwhile, a French family owns another Qianlong “Self-Improvement” jade cymbal, which sold for 56.56 million yuan at the Poly Spring Auction in 2010. At Sotheby’s 2010 spring auction, a Qing Emperor Qianlong Yubao poem “Jade Emperor” Baiyuyuan fetched 95.86 million Hong Kong dollars. A white jade dragonfly once sold for 46.25 million Hong Kong dollars in 2007, then surged over 40 million Hong Kong dollars in three years, reclaiming the top spot in jade auction prices. Sotheby’s autumn auction in 2010 will feature a heavy-weight Yuchao jade figurine—a Qinglong Longbao Yubao dragon button white jade figurine inscribed with “Shintian master.” Its estimated value ranges between 25 million and 30 million Hong Kong dollars. When purchasing Hetian jade, it's crucial to identify genuine pieces. White jade, or nephrite, has been highly prized in Chinese culture for centuries. Although Xinjiang’s Hotan, Hemu, and Yutian areas are known for producing high-quality white jade, the resource has been mined for thousands of years, leading to a booming market filled with imitations. Qinghai jade, while visually appealing and smooth, lacks the dignified texture and depth of Hetian jade. Many sellers pass off Qinghai jade as Hetian, misleading buyers. Similarly, Russian white jade, though of good quality and whiter than Hetian jade, is often used for counterfeiting. However, it tends to feel drier and less warm, with a simpler color palette. Due to the limitations of current appraisal techniques, it's difficult to determine the exact origin of jade. As a result, merchants often sell Qinghai and Russian jade under the label of “Hetian jade,” charging higher prices and potentially deceiving consumers. Buyers should therefore exercise caution and seek expert guidance when purchasing high-value white jade.

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