Title: Jade Investment: Traversing Cycles, Discerning Opportunities – My Decade of Experience and Future Outlook

Hello everyone, I am Liu Siyuan. Having toiled in the jade industry for over a decade, from an initial enthusiast to a seasoned professional, I have personally experienced the ups and downs of the jade market and witnessed the joys and sorrows of countless collectors. Today, I want to share some of my latest insights into jade investment, hoping to provide valuable and insightful references for all collectors and investors.

I. Bidding Farewell to "Foolish" Investment: Jade Investment Enters an Era of Refinement

In the past, many people's understanding of jade investment remained at the rudimentary stage of "buying a good piece of jade guarantees appreciation." However, as the market matures and information transparency increases, this "foolish" investment approach is no longer sustainable. I have observed that the current jade market is developing towards refinement and specialization.

Firstly, the importance of origin segmentation and quality selection is becoming increasingly prominent. Taking jadeite as an example, simply referring to "Burmese jadeite" is no longer sufficient to support investment decisions. Today, investors are more concerned with specific mining areas, such as Muna, Mosisha, and Houjiang. The materials produced from different mines exhibit significant differences in their "种水" (translucency and texture), color, "肉质" (internal texture), and "起胶感" (gelatinous luster), directly affecting their value. Similarly, for Hetian jade, the origin is segmented into籽料 (river-worn pebbles), 山料 (mountain-mined material), 俄料 (Russian material), 青海料 (Qinghai material), etc., with vast differences in market recognition and value. My advice is that investors must thoroughly understand the characteristics and market preferences of different origins to select more promising collectibles within the same budget.

Secondly, craftsmanship and cultural added value have become new growth points. For a good piece of jade, in addition to the material itself, carving craftsmanship, design philosophy, and cultural connotation are also important components of its value. I once saw an ordinary Hetian jade pebble that, through the skillful carving of a national-level jade master, saw its artistic value and market price multiply several times. This demonstrates that jade investment has transcended mere material value and entered the realm of art investment. When making selections, investors should not only focus on the quality of the jade itself but also pay attention to the cultural stories and artistic value it embodies, which are often key to determining its future appreciation potential.

II. Coexistence of Risks and Opportunities: Guarding Against Market Bubbles, Seizing Structural Opportunities

Any investment carries risks, and jade investment is no exception. In recent years, I have observed some irrational speculation, leading to inflated prices for certain jade categories and the presence of market bubbles. Especially for jade of average quality and those driven by speculative concepts, investors need to remain highly vigilant.

However, beneath the risks, immense structural opportunities also lie. I believe the following areas deserve close attention:

• Scarce High-Quality Jade: Whether it's the imperial green "glassy" jadeite or the "mutton fat" Hetian jade pebbles, these top-tier, scarce jade resources consistently hold their value and show a steady upward trend. They are not only investment products but also artworks and collectibles, possessing the ability to traverse market cycles. I once helped a client acquire an exquisite Ming Dynasty Hetian jade pebble carving at a reasonable price, and its market value has quadrupled within a few years. This once again confirms the investment truth that "rarity dictates value."

• Jade with Distinct Cultural Characteristics: For example, jade with unique regional or ethnic cultural features, such as the old jade from Xiuyan jade in Liaoning or the "spinach green" in Manasi jasper from Xinjiang, not only possess unique aesthetic value but also carry profound cultural heritage. They are easily favored by specific collector groups and have significant appreciation potential.

• Tapping the Potential of Emerging Jade Varieties: With advancements in exploration technology and changes in market demand, some previously overlooked jade varieties are beginning to emerge. For instance, in recent years, Southern Red Agate and Warring States Red Agate have quickly gained market recognition due to their unique colors and warm, moist textures. Of course, investing in emerging jade varieties requires greater caution, thorough market research, and risk assessment.

In the field of jade investment, I have always adhered to a "long-termism" investment philosophy. The growth in jade value is often a slow and continuous process, requiring investors to have sufficient patience and a long-term perspective. Short-term speculative behavior often fails to yield ideal returns and may even lead to losses.

At the same time, professional empowerment is key to successful jade investment. This includes:

• Developing Professional Appreciation Skills: Learning the knowledge of jade identification, understanding its origin, quality, and craftsmanship, is the foundation of investment. I recommend that investors observe more, learn more, and communicate more, and even consider attending professional training courses.

• Seeking Professional Consulting Services: For ordinary investors, it is unrealistic to master all jade knowledge. Collaborating with seasoned jade experts and appraisal institutions to obtain professional advice and guidance can effectively mitigate risks and seize investment opportunities.

• Monitoring Market Dynamics and Policy Regulations: The jade market is influenced by various factors such as macroeconomics, cultural policies, and international trade. Timely understanding of market dynamics and policy changes helps in making more informed investment decisions.

Jade investment is both an art and a science. It requires us to possess an appreciation for beauty as well as rigorous analytical skills. Looking ahead, I believe the jade market will continue to develop towards specialization and the pursuit of high-quality pieces. For investors, the key to success lies in:

• In-depth learning and enhancing appreciation skills, avoiding blind following.

• Focusing on scarce high-quality jade and jade with distinct cultural characteristics, seizing structural opportunities.

• Adhering to long-termism, avoiding short-term speculation.

• Leveraging professional resources to mitigate risks and achieve steady wealth appreciation.