Accessible LBZ/Bingdao

[shah82]

Whatever that tragedy is, it's surely better than the tragedies involved in exotic woods and animals. There was a horrific story about rich men watching the slaughter of tigers recently.

[bagua7]

I could sit and tell you anecdotes about all of the business men who fly out here for a day and go to 'LBZ' to buy as much tea as they can fit in their Mercedes SUV's, but i have other appointments

It is another form of corruption, in my book.

This sort of 'hoon' mentality has damaged this "industry", unfortunately. I hope they decide to shift their attention and acquisitive power towards hot air balloons soon.

Whatever that tragedy is, it's surely better than the tragedies involved in exotic woods and animals. There was a horrific story about rich men watching the slaughter of tigers recently.

Is this related to some branches of Traditional Chinese Medicine?

[shah82]

Sort of. Tiger bones and genalia has always been sought for supposed strenthening effects. The way the people wanted to watch the slaughter of tiger is a little something else.

[chrl42]

Before, Chinese richies were mostly goverment-based or traditional richies..the types where they had at least background to sit and understand the depth of goods and poems.

After 2000, new richies came out, they were mostly business-based..or young..like Laobans of Taobao, real-estate, gambling etc..

Now these new richies had to show something that make people respect and listen...like LBZ, Gu Jing-zhou, Ferraris..something that 'famous' but lacks in quantity..

Poor men want money....rich men want respect or reputation...a common rule no matter east or west

[Teaism]

Before, Chinese richies were mostly goverment-based or traditional richies..the types where they had at least background to sit and understand the depth of goods and poems.

After 2000, new richies came out, they were mostly business-based..or young..like Laobans of Taobao, real-estate, gambling etc..

Now these new richies had to show something that make people respect and listen...like LBZ, Gu Jing-zhou, Ferraris..something that 'famous' but lacks in quantity..

Poor men want money....rich men want respect or reputation...a common rule no matter east or west

+1 ......and this is just the beginning!

Cheers!

[Teaism]

I just found out the same piece of 2007 LBZ that I was drinking is now selling in China at 29,000RMB (US$4,670) per 375gm piece. It is really crazy and insane. I paid a small fraction of that price in 2008 and now it is really over speculated. It is a nice tea but certainly don't worth that kind of money even if it way cheaper than this. Luckily I bought a small little amount for enjoyment otherwise there is no chance to experience it. I thought it was expensive then at US$400 per piece. I really can't get over the crazy pricing.

I think the market is collapsing soon. Don't think they can sustain at that kind of level.

Cheers!

[TwoDog2]

I just found out the same piece of 2007 LBZ that I was drinking is now selling in China at 29,000RMB (US$4,670) per 375gm piece. It is really crazy and insane. I paid a small fraction of that price in 2008 and now it is really over speculated. It is a nice tea but certainly don't worth that kind of money even if it way cheaper than this. Luckily I bought a small little amount for enjoyment otherwise there is no chance to experience it. I thought it was expensive then at US$400 per piece. I really can't get over the crazy pricing.

I think the market is collapsing soon. Don't think they can sustain at that kind of level.

Cheers!

Although there is a broad possibility of a market collapse, I would just say that I saw SUV after SUV after SUV of tourists and tuhao bosses coming into LBZ the other day.

Even in the event of a puer market collapse, I doubt that real, old tree Laobanzhang (of which there is very little) will ever collapse to an affordable level. There are just too many people who want it and the resources are limited.

If it was suddenly $300 per kilogram tomorrow, I can think of no shortage of people who would gleefully purchase their entire spring, summer, and fall production at that price.

Despite the current price, they still have to fake and forge a huge of amount of tea in order to satisfy market demand. Granted, some of it is speculation, but there is a large portion purchased by people who want LBZ to drink. The person I traveled with the last couple of days purchases no small amount of LBZ for a group of very wealthy puer drinkers in South China. They are not concerned about the price. It's not even an issue. They just want the best possible LBZ they can get because they love drinking it.

Don't get me wrong though, I really WISH the price would fall to a level where I could fill my closet with old tree LBZ, I just don't think it will realistically happen. The 2007 bubble and the current market are different animals. A bubble in the current market will affect certain teas more than others. The main victim will be bottom tier plantation tea, of which there is absolutely no shortage and absolutely very little demand. LBZ is the opposite. High demand, low supply.

[Jingjiatang]

I just found out the same piece of 2007 LBZ that I was drinking is now selling in China at 29,000RMB (US$4,670) per 375gm piece. It is really crazy and insane. I paid a small fraction of that price in 2008 and now it is really over speculated. It is a nice tea but certainly don't worth that kind of money even if it way cheaper than this. Luckily I bought a small little amount for enjoyment otherwise there is no chance to experience it. I thought it was expensive then at US$400 per piece. I really can't get over the crazy pricing.

I think the market is collapsing soon. Don't think they can sustain at that kind of level.

Cheers!

Although there is a broad possibility of a market collapse, I would just say that I saw SUV after SUV after SUV of tourists and tuhao bosses coming into LBZ the other day.

Even in the event of a puer market collapse, I doubt that real, old tree Laobanzhang (of which there is very little) will ever collapse to an affordable level. There are just too many people who want it and the resources are limited.

If it was suddenly $300 per kilogram tomorrow, I can think of no shortage of people who would gleefully purchase their entire spring, summer, and fall production at that price.

Despite the current price, they still have to fake and forge a huge of amount of tea in order to satisfy market demand. Granted, some of it is speculation, but there is a large portion purchased by people who want LBZ to drink. The person I traveled with the last couple of days purchases no small amount of LBZ for a group of very wealthy puer drinkers in South China. They are not concerned about the price. It's not even an issue. They just want the best possible LBZ they can get because they love drinking it.

Don't get me wrong though, I really WISH the price would fall to a level where I could fill my closet with old tree LBZ, I just don't think it will realistically happen. The 2007 bubble and the current market are different animals. A bubble in the current market will affect certain teas more than others. The main victim will be bottom tier plantation tea, of which there is absolutely no shortage and absolutely very little demand. LBZ is the opposite. High demand, low supply.

Still I remember that in 2007 or 2008 or around those years, boss complained that price of old tree spring LBZ offered by tea farmers increased from RMB 500 to 800, and he thought that was so unreasonably high that he would not make LBZ except for pre-orders. Look at now, more than ten times increase in 7/8 years. Sadly we did not foresee this... Getting good old tree maocha also is becoming more and more difficult, since farmers can easily sell their any kind of maocha to rich "tourists". Same with you that I do wish the price of LBZ would getting down, but don't see how that could happen.

[Teaism]

Well, we just have to look into other area. After stopped buying LBZ in 2009, I looked at DXS and got some very high quality ones and now it is also gone. Bingdao definitely not in my good books maybe because those many producers' Bingdao that I have tried are not impressive. Hit some good Mahei too before the publicity came.

Still thinking hard for a good place, esp those less accessible areas. Perhaps will look out only after the next collapse.

I spend more time sourcing for other tea now.....whites, Darjeeling, dong ding etc. I was lucky once having accumulated some very high quality Lapsang Souchong before the Jin Ju Mei speculation came in.

We just have to source around and enjoy the cat and mouse game. It is a perpetual game.

Cheers!