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Jade is an umbrella term that includes various other gemstones; however the only pure forms of jade are jadeite and nephrite. Jade has been around for thousands of years as it was first used for making weapons and tools due to its toughness.
Jade is esteemed more than diamonds, sapphires, emeralds and rubies by the Chinese buyers who believe it to be a prized gemstone- the stone of heaven that can create a link between the physical body and the spiritual world. It is a symbol of chastity that can protect health, wealth and ward of evils from the owner's life. In China, these have been associated with the imperial family. It is highly durable available in nature in a spectrum of colours where its some varieties are used for creating artwork, sculptures, vases, statues and jewellery. One of the varieties is nephrite is available in the colours black, white, shades of greens and blues, besides, Jadeite can be found in imperial green colour.
In China, there are multiple sale channels adopted by the auction houses, exhibitors, wholesale gemstone dealers, retailers and online sellers, and the market of nephrite jade is over $30 billion ( 2016 data). Its demand is strong globally and the value multiplied manifolds in the last ten years where the Sotheby’s Hong Kong Auction of Jade necklace endorsed by American heiress Barbara Hutton was sold in April 2014 for $27.44 million. It offers a profitable alternative asset class for diversification.
Russia and Myanmar hold resources of the gemstone where Myanmar controls over 90 per cent of the global supplies. The largest 192-ton jade boulder was found in 2016 in Myanmar, which is worth $170 million. The buyers not just seek jewellery they are passionate about the carvings and items made of the stone. The near gem variety used in jewellery is uniformly coloured green to blue and highly translucent.
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