Q2 2024 Hetian Jade - Bi Yu Market Analysis Report
I. Market Overview and Price Data
In the second quarter of 2024, the Hetian Jade - Bi Yu (Jasper) market generally showed a steady upward trend. Influenced by factors such as increasing scarcity of origin resources, continuous growth in collection and investment demand, and shifts in market aesthetic preferences, Bi Yu prices remained firm, with some high-quality materials even experiencing slight increases. Market activity in this quarter saw an improvement compared to the previous quarter, especially in the high-end fine Bi Yu segment.
Price Range and Fluctuation:
* Ordinary Bi Yu (mainly Russian and Qinghai materials): Price range of 500 - 3000 CNY/gram, a quarter-on-quarter increase of approximately 3% - 5%. Primarily used for mid-to-low-end jewelry and small hand-held pieces.
* Mid-grade Bi Yu (some high-quality Russian materials, a small amount of Xinjiang mountain materials): Price range of 3000 - 8000 CNY/gram, a quarter-on-quarter increase of approximately 5% - 8%. Mainly used for bracelets, pendants, and medium-sized ornaments.
* High-grade Bi Yu (spinach green, old mine Bi Yu, top-grade duck-egg green): Price range of 8000 - 30000 CNY/gram, with some exceptional pieces exceeding 50000 CNY/gram, a quarter-on-quarter increase of approximately 8% - 12%. Primarily for collectible bracelets, pendants, and carved pieces.
Trading Volume:
The total trading volume of Hetian Jade - Bi Yu in this quarter (by weight) was approximately 1500 - 2000 kilograms. Among these, mid-to-low-end Bi Yu accounted for about 60% of the trading volume, mid-to-high-end Bi Yu for about 30%, and high-end collectible Bi Yu for about 10%. Compared to the previous quarter, the overall trading volume increased by approximately 10% - 15%, indicating a recovery in market confidence and a release of demand.
II. Market Trend Analysis and Forecast
- Resource Scarcity Drives Price Increases: Hetian Jade - Bi Yu, especially high-quality old mine material and spinach green material, faces significant mining difficulties and limited output, leading to increasing resource scarcity. This trend is expected to continue in the future, becoming a core factor supporting Bi Yu price increases.
- Diversification of Aesthetic Preferences: Traditional spinach green remains the market mainstream, but unique Bi Yu varieties like duck-egg green and apple green are also gaining popularity, with their price increases even surpassing traditional varieties. The market's demands for Bi Yu's color, texture, and oiliness are becoming increasingly high, and segmented markets will become more active.
- Brand Building and Traceability Systems: As consumers pay more attention to product quality and origin, branded Bi Yu products with origin certificates and authoritative appraisal certificates will be more competitive. More businesses are expected to focus on brand building and traceability systems in the future.
- Integration of Online and Offline Development: Online live streaming and e-commerce platforms have become important channels for Bi Yu sales, especially for popular and mid-range products. However, transactions of high-end collectible Bi Yu still mainly occur in offline physical stores, exhibitions, and auctions, where consumers prefer to appreciate the physical item. Online and offline will be more deeply integrated in the future.
Short-term Forecast (next 3-6 months): The Bi Yu market will maintain steady growth, with prices expected to continue a slight upward trend, especially for high-quality and unique varieties. Trading volume is expected to remain at a high level.
Long-term Forecast (next 1-3 years): As high-quality resources become further depleted, the investment and collection value of Bi Yu will continue to increase. However, market differentiation will intensify, with limited price increases for ordinary materials, while fine and unique materials will become the hot pursuit in the market.
III. Price Comparison of Different Quality Grades
| Quality Grade | Key Characteristics | Typical Origin | Price Range (CNY/gram) | Remarks |
| :------------ | :------------------------------------------------------------------------------- | :----------------------- | :--------------------- | :-------------------------------------------- |
| Collectible | Pure and rich color (spinach green, duck-egg green), fine and oily texture, no black spots, cotton, or cracks, high density, good translucency | Russian old mine, Xinjiang Manasi | 8000 - 50000+ | Highly investment-worthy, rare categories |
| Premium | Correct color, fine texture, good oiliness, occasional minor black spots or structures, no obvious flaws | High-quality Russian material, Xinjiang mountain material | 3000 - 8000 | Suitable for wearing and medium-to-long-term collection |
| Mid-grade | Acceptable color, relatively fine texture, certain oiliness, possibly some black spots or cotton, not strong structural feel | Russian new mine, Qinghai material | 1000 - 3000 | Suitable for daily wear, high cost-performance |
| Ordinary | Color is light or grayish, rough texture, poor oiliness, many black spots, cotton, or cracks, strong structural feel | Russian new mine, Qinghai material, some local materials | 500 - 1000 | Mainly used for popular jewelry, small hand-held pieces, primarily decorative |
IV. Investment Advice
- Prioritize Premium and Unique Materials: Investment should focus on fine Bi Yu with pure color, delicate texture, high oiliness, and no obvious flaws, especially rare varieties like spinach green and duck-egg green. These materials have greater potential for value preservation and appreciation.
- Pay Attention to Origin and Traceability: Prioritize Bi Yu products with clear origin labels (e.g., Russian material, Xinjiang material) and authoritative appraisal certificates. Understanding the origin and processing techniques helps to determine their true value.
- Beware of 'Inferior Quality Passing for Superior': The market has instances of low-priced Bi Yu being passed off as high-priced, or dyed or treated Bi Yu being passed off as natural. Investors should improve their ability to distinguish, or seek professional help.
- Long-term Holding, Diversified Investment: The investment return cycle for Hetian Jade - Bi Yu is relatively long; it is recommended to hold for the long term. At the same time, consider diversified investment, allocating Bi Yu of different qualities and origins to reduce the risk of a single variety.
- Focus on Carving and Cultural Value: For carved pieces, excellent carving can greatly enhance the artistic and collection value of Bi Yu. Additionally, understanding its cultural connotations and historical background also helps to enhance the depth and enjoyment of investment.
Overall, the Hetian Jade - Bi Yu market is expected to remain active in the coming period, and the investment value of high-quality Bi Yu will continue to stand out. Investors should remain rational, conduct in-depth market research, and make prudent decisions.