Dennis Sun, a Hong Kong jewelry collector, has been buying jade for three decades. Lately, it has been harder to snag the perfect piece as mainland Chinese buyers drive prices through the roof.At a Christies auction in May, he watched a jadeite ring sell for about HK$20 million ($2.6 million), or five times its estimated price. Last month, he bought a jade bangle for almost HK$1 million even though the colour and quality werent all had hoped for. 

The value of the precious gem is surging with Chinas wealthy snapping up jade necklaces, rings and bracelets as long- term investments. They are counting on the stones steady ascent to provide safety as Shanghais stock market languishes, much of the bond market remains closed to retail investors and even gold prices have plunged. 

About 90 per cent of the worlds jadeite, the most precious version of the stone,A China Stone Carving concept that would double as a quick charge station for gadgets. comes from mines in Myanmar. Prices are surging because demand is outpacing supply, said Humphrey Yen, an instructor at the Hong Kong Institute of Gemmology. 

Even so, buyers may find it hard to cash out as there is a lack of an internationally recognized market or a price standard for the gemstone, Yen said.Without standard international pricing systems, buyers and sellers rely on subjective valuations by jewelry experts, or use auction bids as a gauge.What's the difference between Marble tiles and Porcelain Tiles?They will have to rely on auction houses to facilitate a trade, or trade it between collectors, Yen said. Otherwise, they need to establish connections to jewellers. 

Best known as a green gem, jade comes in colours such as red, yellow, white and lavender. Its price has doubled at auctions over the past five years with more than half of Sothebys recent jadeite sales coming from Chinese buyers, said Terry Chu, deputy head of Sothebys jewelry department in Asia. 

The Chinese rush for the stone is aiding international auction houses and jewellers such as Chow Tai Fook Jewellery Group Ltd., while providing revenue to Myanmar, one of Asias poorest nations, which has been opening its economy recently since the military relinquished some control. A jade and gem auction in June fetched over $2 billion US for the southeast Asian nations government, which says the Chinese are its biggest customers. 

Chinese buyers are still not assured of quick returns.Even as you own a top-quality jadeite stone, you cant simply cash out like you trade your stocks; you must find a buyer whos willing to pay top money for it, said Sun, who is also chairman of photography company China-Hong Kong Photo Products Holdings Ltd. Its not for speculators or day- traders. 

While jade doesnt guarantee big money, he is hopeful it can protect his wealth against increases in inflation.Jade has been seen as an imperial stone since the Qing dynasty. Jadeite, called fei cui in Mandarin, is believed to ward off evil spirits and symbolizes purity and longevity in China. It is cut by hand, said Kent Wong, managing director of Chow Tai Fook, Chinas largest jewelry chain. 

Jade is a generic term for both jadeite and nephrite, two distinct ornamental stones. The softer nephrite, which is less rare and sourced from parts of China and the Middle East, is used mainly for carving. 

As the Chinese have grown wealthier and more sophisticated in their tastes, they have favoured jades subdued allure over flashier stones. An austerity campaign by President Xi Jinping that seeks to curb extravagant official spending is giving the stone an added boost. 

The stock market in China, where the economy is poised for the weakest expansion since 1990, has fallen 7.2 per cent this year. Even global bullion prices have plunged this year, reaching $1,180.50 per ounce on June 28 in London, the lowest level in almost three years. 

With a limited set of traditional investment options, wealthy Chinese have poured money into art and property. Nearby in Hong Kong, investors in search of new investments are snapping up taxis and licenses.While the Chinese have also raised spending on pricey items such as diamonds as incomes have risen, jade holds a special place because of a long cultural tradition.How to change your dash lights to Cheap Crafts Products this is how I have done mine. 

Sun says his father taught him how to pick out a good piece of jade as a kid, and he loves the gem because its color is vivid and every piece is different.By buying jadeite and diamonds, we are essentially buying natural resources, which is a relatively safe long-term investment, he said. It will surely beat inflation. 

Chow Tai Fook says that if an investor wishes to sell the gem, it buys from them. The Hong Kong-based company recently sold a jadeite bead necklace for over $1.3 million US and expects to keep capitalizing on that demand. Managing Director Wong says jade prices have almost tripled since 2005 and are likely to rise at a compounded rate of 15 per cent to 20 per cent each year. 

One VIP customer recently showed Wong his jade collection. The client, a property developer in Northern China, had built up a set of more than 100 jadeite bangles, each costing at least 1 million yuan ($163,000 US). His jade, Wong said, was simply portable wealth.