The Price of Yiwu Redwood Furniture Rises Violently

Idle fund usually flows with robbing property. Now in Yiwu where there is plenty investment for arts, that kind of phenomenon is more common. Recently, China’s three gorges artist and hengdian annatto furniture centre which is one of  four dongyang annatto furniture market joined in hands for cooperation. They are inclined to make the objects of “red building annatto treasure house” as luxury collections.

ZhangZhiquan, the investor of “red building annatto treasure house” said that the combination of traditional Chinese art and redwood culture is a kind of culture blend and business creation. The art world, the investment community and the design circle will interact around traditional culture. And it has realistic meanings for the development of redwood industry.

After gambling of stone and jade, Chinese hot money inflows to Vietnam for the gambling of wood has become a phenomenon. The wood is chrysanthemum pear. Once wagered, the value will turn several times or even tens of times.

A shopkeeper in Haide market said that large amount of idle fund inflowed into Dongyang since the second half of last year. Many of them are Wenzhou people who do business in Yiwu. They usually pick the good and expensive ones. The majority of these people are engaged in real estate and hotels. He reckoned that the price of annatto furniture turned over several times in less than one year. It is even hard to estimate the curiosa ones.

ChenYuQing, the supervision of Hengdian annatto furniture center said that last year a local boss bought chrysanthemum pear handicrafts and furniture products for about 80 million yuan. While up to April of this year, the seller tried to repurchase the woods for four times price. Chrysanthemum pear annatto furniture is in fact no longer curiosa, but top luxuries.