Myanmar, as the weathervane of the international jade market. 53 Annual Jade Trading Public Auction (hereinafter referred to as) “ Myanmar Public Auction ” ) concluded last month, but its lingering appeal still resonates, and people continue to talk about it enthusiastically. There’s no doubt that, as Myanmar’s annual public auction comes to an end, domestic jade prices will once again enter a new round of adjustments. According to reports, the number of Chinese exhibitors participating in this auction was only... 2000 , insufficient 2012 Chinese exhibitors' 1/5 Moreover, the number of items put up for auction at this public auction has also declined. Despite the sharp drop in both the number of participants and the overall scale, the reserve prices of the auctioned items have risen significantly—unusually so. Industry insiders point out that the reduction in exhibition scale does not mean the jadeite market has lost all attention; similarly, the rise in item prices does not necessarily indicate an improvement in the jadeite market trend. Judging from the results of this year’s public auction, we can infer that in the future... 3-5 The consolidation pattern in the jadeite market will continue throughout the year. On the one hand, the bubble in consumer-grade jadeite has yet to fully deflate, and prices will continue to return to a more rational level. On the other hand, the investment value of mid-to-high-end jadeite will become even more apparent.

Both exhibitor turnover and sales declined.

Myanmar’s public auctions are no longer as brilliant.

Affected by numerous factors—including a noticeable decline in sales in the domestic jadeite market and political instability in Myanmar—this Myanmar public auction has also been significantly impacted. These impacts are primarily reflected in a sharp drop in transaction volume and a reduction in the number of items put up for auction.

It is understood that the number of rough stones put up for auction at this Myanmar public auction is: 6062 The bidding method continues to employ the two traditional approaches: open bidding and sealed bidding. Among these, the sealed bidding... 5896 Copy, clearly marked 166 portion. As of the end of the Myanmar public auction, the sealed-bid transaction was completed. 3806 portion, with a transaction rate of 64.55% , Transaction amount 4.03 hundred million euros (approximately) 30 RMB 100 million). Clearly marked and sold. 67 portion, transaction rate is 40% , the transaction amount is nearly 1 hundred million euros (approximately) 7.5 100 million RMB). Overall transaction rate 63.88% , total transaction amount 5.3 hundred million euros (approximately) 37.5 hundred million RMB). Although the data from each group are quite encouraging, this year’s transaction volume has decreased by nearly... 4 100 million RMB.

In addition to the significant drop in transaction volume, the number of rough stones put up for auction at this Myanmar public auction has also noticeably decreased compared to previous sessions. In past Myanmar jade public auctions, rough stones were always on display and available for sale. 9000-1 Ten thousand pieces of raw jadeite stones—but after consultations with the relevant authorities, at this trade fair, the authorities will limit the sales volume of raw stones to... 6000 About a portion.

The Myanmar public auction has always served as a barometer for the jade market. Judging from this year’s auction, prices for ordinary jade raw materials are relatively reasonable, but supplies of high-end jade raw materials remain scarce, keeping prices persistently high. With a decline in the quantity of rough stones and an even greater scarcity of premium-quality specimens, we can glimpse the new Myanmar government’s firm commitment to adopting a sustainable development strategy in the mining and export of jade raw materials.

Although the industry believes that price increases in the jadeite market are primarily driven by high-end jadeite, and that future appreciation prospects will continue to be dominated by high-end jadeite, a review of the jadeite market’s fluctuations over the past few years reveals that prices for mid- and low-end jadeite have also been rising—albeit at a modest pace. However, given the scarcity of raw materials at the source of the jadeite market and the larger base of ordinary consumers, mid- and low-end jadeite now account for a significant share of the overall market.

The price of raw stones continues to rise.

Domestic finished goods inventory exceeds 100 billion.

Data shows that China, as the country with the largest demand for jadeite, consumes nearly... each year. 90% The jade raw materials come from Myanmar, and the jade raw materials offered at Myanmar’s public auctions are nearly... 80% It has been acquired by Chinese businessmen. Looking at this year’s overall Myanmar public auction, the quantity of raw jadeite available at this auction is lower than in previous years, and high-quality jadeite is even harder to find. Meanwhile, as this is the first public auction held under the new government and given ongoing tax issues faced by the Myanmar government, the reserve prices for auction items have generally risen across the board. Many Chinese exhibitors participating in this auction noted that this year’s prices are somewhat high—some top-quality pieces are downright unbelievable in price. After saving up their funds for a whole year, they can only afford to buy ordinary goods or small-sized materials; as for rare, exquisite, and scarce raw stones, they can only watch from the sidelines.

Meanwhile, according to U Win Thaung, head of Myanmar’s Ministry of Mines, once the licenses for all jade mining blocks within Myanmar expire, the government will no longer grant extensions to these jade mining areas. Currently, only a small number of companies actively engaged in jade mining operations will be allowed to continue their activities; however, once their existing mining permits expire, these companies will also be required to cease operations. This means that the Myanmar government will completely halt the approval of new applications for jade mining licenses. As a result, the supply of raw jade stones available on the market will increasingly be controlled domestically within Myanmar, further driving up the prices of raw jade stones sourced from the country’s mines.

Although the prices of raw jadeite stones in public auctions are expected to continue rising, domestic sales of jadeite have plummeted significantly, influenced by the broader economic environment. Moreover, most jadeite products on the market are currently stockpiled by intermediaries, meaning that only a small proportion of jadeite jewelry actually reaches consumers and collectors. Industry experts say: “ Currently, a large quantity of jadeite is piling up in the hands of merchants at intermediate distribution stages, causing capital stagnation for these businesses. Once these merchants are forced by financial constraints to release their inventories onto the market, such products will inevitably deal an even greater blow to an already weak market. To smoothly absorb and digest jadeite products worth hundreds of billions of yuan, it will take at least... 3-5 A year's time. ” A shop owner who deals in jadeite told a reporter from the Beijing Business Today: “ The domestic jewelry market is experiencing dismal sales—products simply aren’t selling at all, and there’s absolutely no capital available to get things moving. Now, even we’re relying on WeChat merchants to boost volume. Jadeite is really tough to sell these days. ”

Polarization is intensifying.

The domestic jadeite market adjustment continues.

Chinese people’s love for jade can be described as the greatest in the world. However, over the past five years, the number of Chinese exhibitors participating in Myanmar’s public auctions has noticeably declined—from nearly 10,000 at the outset to fewer than [number missing] this year. 2000 People. Faced with this situation, Shi Junchao, a national-level jewelry appraiser and general manager of Panjiayuan Flea Market, pointed out that although the number of Chinese exhibitors has noticeably decreased this year, they still constitute the main group of participants in Myanmar’s public auctions. Moreover, the decline in numbers cannot be entirely attributed to the sluggish jade market. Objectively speaking, on the one hand, it is related to the current state of the domestic jade market; on the other hand, it is also due to the increasingly stringent rules governing participation in Myanmar’s public auctions.

It is understood that, in order to boost the transaction rate at Myanmar’s public auctions, the Myanmar government has, since last year, tightened the registration requirements for exhibitors and raised the bidding deposit amounts. As a result, many merchants who had merely come to “join the fun” were weeded out, leading to a noticeable change in the number of exhibitors. Meanwhile, the sluggish domestic jade market has prompted many weaker jade traders to switch industries, with most micro-merchants being eliminated. These factors have all contributed to the decline in the number of Chinese exhibitors.

It’s well known that the domestic jadeite market is undergoing an adjustment. Over the past two years, prices of mid- and low-end finished jadeite products have continued to decline, while prices of high-end, premium-quality pieces have remained relatively stable. This situation aligns with this year’s performance at the Myanmar Public Auction. According to exhibitors who participated in this year’s Myanmar Public Auction, the prices of raw jadeite at this year’s auction have fallen compared to last year, returning to a more rational level—quoting prices that generally match the actual quality of the raw material itself. However, prices for premium-quality pieces remain firm, and there are even signs of a slight increase; prices for ordinary-grade goods are stable, while prices for lower-end items have seen a modest decline.

Shi Junchao believes that the jadeite market is experiencing a clear polarization. High-end, premium-quality pieces continue to command high prices, while lower-end products are gradually being relegated to the status of tourist souvenirs. This trend mirrors the overall situation in the collecting market—and it also points to the market’s future direction. Judging from the bidding results, prices for ordinary jade materials remain reasonable. Although the jadeite market bubble has significantly deflated after two years of consolidation, prices for mid-range and lower-grade jadeite jewelry are unlikely to see any substantial increase in the future.

It remains uncertain how the Myanmar government’s new policies will affect the market. However, industry experts point out that it will take time—from the raw materials sourced from Myanmar’s public auctions to their processing into finished products and finally their reflection in the jadeite market—certainly at least half a year, or even a full year. Meanwhile, domestic jadeite inventories remain high, market sales are sluggish, and consumer demand is weak, forcing the industry to undergo adjustments. Despite the ongoing chill in the domestic jadeite market, retailers are all working hard to adjust their business strategies, striving to find new avenues for survival amid these challenging conditions. In the midst of ongoing adjustments... “ New Normal ” Next, we need a fresh perspective and new direction—and a shift in mindset—if we are to avoid being left behind by the market. Both consumers and merchants are returning to rationality, and the current consolidation trend is set to continue.