Let us give the conclusion first: qinan(kyara) is expensive not because merchants dare to ask high prices, but because "a piece of wood is hard to find" plus the probability of "ten sinking-grade pieces yield one qinan(kyara)" is right there. Public 2026 market prices: plantation qinan(kyara) about 500–2000 yuan/gram, sinking-grade floating level 2000–8000 yuan/gram, wild sinking-grade qinan(kyara) 8000–30000 yuan/gram, century-old wild old material and heirloom qinan(kyara) 28000–100000 yuan/gram and above. Although all are qinan(kyara), the price per gram can differ by a hundredfold, depending on the way the resin forms, the aging years, the producing region and the finished-product yield. The following are all public price ranges, subject to market conditions and for reference only.
Key points
- Wild qinan(kyara) requires the combination of four conditions: injury, a specific fungal strain, the soil and water of the producing region, and decades of wild aging. The industry has long said that "ten sinking-grade pieces yield one qinan(kyara)."
- In 2026, the price per gram of qinan(kyara) falls into four tiers: plantation 500–2000 yuan/gram, sinking-grade floating 2000–8000 yuan/gram, wild sinking grade 8000–30000 yuan/gram, and top-grade old material 28000 yuan/gram and above.
- The finished-product yield when turning raw material into bead strings is often only 20%–30%, and the loss pushes up the true cost of the finished product.
- Low-priced "qinan(kyara)" (a few hundred yuan per gram yet claimed to be wild) is basically oil-soaked, dyed or compression-molded imitation, and should not be touched.
- In ancient texts, qinan(kyara) is mostly written as "伽楠" or "伽南"; the aroma is described with "cool and sweet, soft and glutinous, layered changes" as the core, which can serve as a reference for identification.
The price of qinan(kyara) is not hyped up; it is auctioned out. Looking at several public records gives a real sense of "ten thousand gold per gram."
According to a 2026 auction market report by China Economic Net, at a spring auction in Yokohama, Japan, a 5278-gram piece of sinking-grade wild qinan(kyara) raw material hammered down at 28 million yuan excluding commission, equivalent to nearly 6000 yuan per gram of raw material—note that this israw materialprice, not yet counting the loss from turning it into bead strings. At Poly Xiamen's 2026 spring auction agarwood special session, a 35-gram 108-bead string of Nha Trang wild qinan(kyara) in 8mm size was estimated at 450,000–700,000 yuan, equivalent to over ten thousand per gram; including the roughly 15% auction commission, the acquisition cost rises further. In domestic auctions, fine qinan(kyara) carvings of a dozen or so grams also often sell for hundreds of thousands.
Look also at the records from Hong Kong and Hainan: public industry reports show that at Sotheby's Hong Kong auction in 2013, 126 grams of qinan(kyara) sold for HK$31.5 million; at the 2025 Hainan wild agarwood special auction, 119 lots fetched a total of 76.38 million yuan, with a single "Galalu Imperial Hand Box" selling for 36.6 million yuan. In top collector circles, qinan(kyara) is hard currency priced by the piece and converted by the gram.
Behind these figures is an often overlooked account:finished-product loss. Wild qinan(kyara) raw material is mostly hollow, cracked and layered inside; to turn out regular bead strings, after removing defects the finished-product yield is often only 20%–30%. Of a 5000-gram piece of raw material that looks substantial, the part that can yield strings may be less than one third, and the rest all becomes scraps. Raw material price divided by finished-product yield is the true cost of the finished product.
First layer: the probability of resin formation.Ordinary agarwood can form when a tree is injured, fungi intervene and sediment accumulates over the years. Wild qinan(kyara) requires all four conditions to be met: injury to the tree, infection by a specific dedicated fungus, the unique soil and water of the producing region, and decades or even a century of wild aging, before it may possibly form. The industry has long said that "ten sinking-grade pieces yield one qinan(kyara)"—among ten thousand agarwood trees, a qualified piece of wild qinan(kyara) material may not be produced. Moreover, wild qinan(kyara) is mostly small fragments; large pieces that can yield regular bead strings or carvings are a rare encounter not to be sought.
Second layer: aging time.Time is agarwood's most expensive raw material. The soft and glutinous texture of qinan(kyara) and the layered aroma it can release at room temperature rely on decades or even a century of aging, which qualitatively transforms the resin. Artificial rapid production can compress the years but cannot compress the depth of transformation—this is the source of the price gap between plantation qinan(kyara) and wild qinan(kyara).
Third layer: resource depletion.In traditional core production areas such as Nha Trang and Phu Quoc, wild qinan(kyara) has gradually become depleted after centuries of harvesting. Most of the wild qinan(kyara) circulating at auctions today consists of heirloom old material from early collectors and aged stock reimported from Japan and elsewhere; newly harvested, compliant wild qinan(kyara) raw material is very scarce. With supply only decreasing and never increasing, prices naturally only rise and never fall.
Fourth layer: the fragrance barrier.This is the layer that can least be replaced. Wild qinan(kyara) can release richly layered fragrance at room temperature: the opening is clear, cool, and sweet; the middle gradually unfolds honeyed, milky, and floral notes; the base is long and lingering, and the aroma also changes subtly with ambient temperature and humidity. This "living" fragrance is extremely difficult for artificially accelerated material to replicate, and it is also why high-end collectors are willing to bid high prices for it and keep it in long-term collections.
Incidentally, there is corroboration in ancient texts. In ancient literature, qinan(kyara) was often written as "伽楠" or "伽南", and works such as the Xiang Cheng record it early on. The ancients judged it as "soft and glutinous, cool and sweet, with layered changes," which is in the same lineage as the physical experience of veteran incense lovers today. The fragrance standard has been passed down for hundreds of years without change, and this is also the most reliable anchor when identifying qinan(kyara).
| Tier | Characteristics | Reference price per gram (yuan/g) | Notes |
|---|---|---|---|
| Entry-level cultivated qinan(kyara) | Artificial biomimetic agarwood formation, 3–8 years, oil content 15%–25% | 500–2000 | The entry point for beginners to experience qinan(kyara) fragrance |
| Sinking-grade floating qinan(kyara) | Agarwood formation over 10 years, oil content 25%–40% | 2000–8000 | For veteran incense lovers to wear and lightly collect |
| Wild sinking grade | Oil content above 40%, agarwood formation over decades | 8000–30000 | A key category for professional collectors |
| Top-grade wild old material | Century-old trees, heirloom material, oil content above 60% | 28000–100000+ | Auction grade, circulating within the circle |
In terms of production-area value ranking, the order generally recognized by the market is roughly: Hainan qinan(kyara) (cool honey fragrance, gentle and moist layers) > Vietnamese Nha Trang qinan(kyara) (clear cool notes, rich honey fragrance) > Cambodian Pursat qinan(kyara) (outward floral fragrance, high cost performance) > other production areas. Wild sinking-grade Hainan qinan(kyara) is usually 30% to 50% higher than Nha Trang qinan(kyara) of the same grade.
Remember one red line: "qinan(kyara)" below 500 yuan per gram, whether the seller says it is cultivated or wild, is most likely ordinary agarwood soaked in oil, dyed, or imitated with resin compression molding.Genuine qinan(kyara) has a soft, glutinous, oily texture; a light pinch with the fingernail leaves a mark and it slowly rebounds. Imitations are often hard and stiff; when burned they give off black smoke and a plastic smell. Some merchants also pass off high-pressure compressed, oil-injected material as "sinking-grade qinan(kyara)"—it feels unusually heavy, the oil lines are blurred and chaotic, and after being worn for a while it exudes oil and becomes sticky. It is not hard to tell apart.
First, start with cultivated qinan(kyara).Cultivated qinan(kyara) at 500–2000 yuan/gram lets you build an understanding of "soft and glutinous, cool and sweet, layered changes." Beginners who rush straight for wild material are paying the highest tuition for the deepest pit.
Second, handle it and smell it before you pay.The texture and aroma of qinan(kyara) must be judged by handling it yourself and smelling it up close. Online photos, once retouched, all look oily and plump, but what arrives may be something else entirely. Before any large transaction, be sure to request a sample or view the actual item in store.
Third, have someone check large purchases for you.Qinan(kyara) is deep water; the higher the price, the more stories there are. If you're unsure, get a second pair of eyes: come tothe Songzhuang storeto look in person, or call 400-809-1913 and describe the texture and aroma you see to the shopkeeper, and we'll help you cross-check.
The per-gram price of qinan(kyara) ranges from a few hundred yuan to hundreds of thousands, with the difference lying in the formation method and age: cultivated qinan(kyara) 500–2000 yuan/gram, sinking-grade floating 2000–8000 yuan/gram, wild sinking grade 8000–30000 yuan/gram, and top-grade century-old material 28000 yuan/gram and above. Anything quoting a few hundred yuan yet calling itself "wild sinking grade" can basically be judged a counterfeit.
First, the probability of resin formation is extremely low—"ten sinking pieces yield one qinan"; second, it requires decades to hundreds of years of maturation, a time cost that cannot be compressed; third, wild resources are depleted, and good material is a rare find; fourth, its aroma has a barrier that cannot be replicated. These four factors combined are what make a gram worth ten thousand in gold.
It is worth it as an entry point. Although the aroma of cultivated qinan(kyara) does not match wild, it lets you experience the soft, glutinous texture and cool sweetness unique to qinan(kyara), and at 500–2000 yuan/gram the trial-and-error cost is low. But do not take it internally, do not use it as medicine, and do not buy it as an investment—cultivated material has very weak financial attributes.
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