Luxury fads are perishing

Two models at a fair show off rosewood furniture in Jiujiang, Jiangxi province, in 2014. [Photo provided to China Daily]

Rosewood furniture is considered among the priciest and most valuable furniture in China, the largest furniture production, exporting and consumption country in the world.

Rosewood has becomes a carrier of national culture after 600 years of development.

A rosewood set displayed last year boasted a price of over 500 million yuan ($80 million). It featured 22 pieces of furniture that included closets, a desk, a chair and a bed. The rosewood was made from a more than 1,000-year-old tree that weighed approximately four tons, 163.com reported.

Demand of rosewood furniture burgeoned in China in the last decade, and the market was worth over a hundred billion yuan in 2012, according to Greenpeace, an international environmental protection organization.

Yet, the furniture sector saw a dampened growth this year, and rosewood furniture registered a significant price drop of 20 percent to 30 percent, according to the China Rosewood Association.

Nevertheless, the association said the rosewood sector is expected to rebound after the National Day Holiday in October, as market demand has been growing.