Investment in stone outweighs gold: N. China

Xi'an (CNS) -- A set of bloodstone seals went for 1.28 million yuan (US$ 202,400) at an auction in Xi'an on Sunday.

Famed for its deep hue, as red as chicken blood, bloodstone is formed close to a special heavy metal mine in Xunyang Township in the northern part of Shaanxi Province.

This reserve of bloodstone is particularly fine; its output has been used to make seals and handicrafts since the Qin Dynasty (221BC–206BC).

In the first half of 2011, the market price of the average Xunyang bloodstone multiplied by four to seven times, and the finest examples by nine to 19 times, according to expert Zhou Benwen.

In the first decade of this century, the price of jade grew by 20 percent every year; in the last two years, the cost has almost doubled, according to statistics kept by the Gems & Jewelry Trade Association. Market analysts say stone has become a new investment field for Chinese speculators.