In this article, we will take a detailed look at the 20 Most Luxurious and Expensive Woods for Furniture In The World with insights into per-board foot price. For a quick overview of such expensive woods for furniture, read our article 5 Most Luxurious and Expensive Woods for Furniture In The World.
The furniture market is flourishing due to booming residential and commercial construction. Developed economies like the US spearhead this growth with significant investments in real estate and housing. For instance, the US government commits heavily to housing in 2023, allocating over $175 billion.
This trend extends to developing economies as well. The US significantly increased its commitment to developing nations’ infrastructure, exceeding $30 billion for a dedicated program. As countries prioritize infrastructure and real estate development, leading to the construction of new homes and offices, the furniture market is poised for sustained growth throughout the forecast period. This symbiotic relationship between luxury real estate, infrastructure, and furniture is expected to continue, ensuring vibrant growth for both sectors in the foreseeable future.
Consequently, the global luxury furniture market, already a $24.4 billion behemoth in 2023, is set to soar to $38.97 billion by 2033. This meteoric rise is fueled by factors primarily driven by the real estate boom and increasing urban populations in burgeoning economies worldwide.
Notably, luxury living room furniture reigns supreme in the furniture market, with a $68 billion market volume in 2023. But when it comes to the global revenue of the furniture industry, the United States takes the crown, with a staggering $244 billion in 2023.
A Look into the Furniture Market
With a market cap of $7.57 billion, Wayfair Inc (NYSE:W) is one of the largest online retailers of home goods in the United States, and it also has a significant presence in Canada and Europe. Wayfair Inc (NYSE:W) sells a wide variety of furniture, from sofas and beds to tables and chairs, as well as other home goods such as appliances and decor. In early 2023, home goods giant Wayfair Inc (NYSE:W) launched Decorify, a game-changing tool powered by generative AI. This innovative app lets shoppers envision their spaces transformed, sparking interior design inspiration and pinpointing desired styles. Wayfair Inc. (NYSE:W) delivered a resilient performance in Q2 2023, posting net revenue of $2.9 billion, a 3.7% increase year-over-year.
Besides, Wayfair Inc’s (NYSE:W) home turf is heating up as retail giant Target Corp (NYSE:TGT), a $63.88 billion behemoth, steps up its wood furniture game. Target Corp’s (NYSE:TGT) trendy and affordable offerings resonate with younger generations, chipping away at Wayfair Inc’s (NYSE:W) market share in the mid-range segment. Target Corp (NYSE:TGT) launched/expanded 10 owned brands with thousands of fresh, unique products landing on shelves at irresistible prices. Everyday essentials pricing starts at just $3, $5, $10, and $15. Moreover, Target Corp (NYSE:TGT) is accelerating its next-day delivery ambitions by expanding its sortation centre network. Target Corp (NYSE: TGT) will build at least 6 new facilities by the end of 2026, increasing its total presence to over 15 locations.
While established giants dominate the traditional furniture market, Lovesac Company (NASDAQ:LOVE) has carved its niche with innovative, modular furniture capturing the ambience of a generation. In September 2023, recognizing the dedication of those serving their communities, Lovesac Company (NASDAQ:LOVE) launched the “New Heroes” program, offering a 5% discount on its products to active and retired US service members, healthcare workers, teachers, veterinarians, and veterinary techs. In its Q3 2023 earnings call, Lovesac Company (NASDAQ:LOVE) surpassed analyst expectations, delivering an EPS of $-0.15 compared to a projected $-0.31. This marks the third consecutive quarter of industry-leading growth, with sales expanding 14.3% year-over-year, fueled by Lovesac Company’s (NASDAQ:LOVE) sturdy omnichannel strategy. However, it’s crucial to note that compared to pre-pandemic levels four years ago, sales have declined 196%. Despite this historical dip, Lovesac Company (NASDAQ:LOVE) anticipates monetizing inventory during the upcoming peak season, leading to a projected higher net cash balance at the end of fiscal 2024 compared to fiscal 2023.
A brightly lit showroom, with modern furniture and tools on display.
Methodology
To rank the 20 Most Luxurious and Expensive Woods for Furniture in the World, we conducted a comprehensive search, consulting reliable sources, including US Vintage Wood, Ventured, Luxatic, Teak Master, and A-Z Animals. We also went through multiple Reddit threads and used search terms like “best wood in the world for furniture”, “most expensive wood for furniture”, and “most expensive woods in the world’. We then picked the most luxurious and expensive woods for furniture in the world that appear most frequently on these sources and ranked them based on their per-board foot prices.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. Using a similar consensus approach, we identify the best stock picks of over 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
20 Most Luxurious and Expensive Woods for Furniture In The World
20. Purpleheart Wood
Per-board Foot Price (USD): 12
Sourced from the vast rainforests spanning Mexico to Brazil, the Peltogyne genus boasts 23 distinct species of Purpleheart trees, each renowned for their exceptional strength and resilience. Its exceptional strength and resistance to wear and tear render it equally adept at gracing high-traffic interior flooring as it is at enduring the harshest elements on exterior decks and in demanding industrial settings.
19. Ziricote Wood
Per-board Foot Price (USD): 25
Ziricote wood stands out as a true natural spectacle, captivating onlookers with its unique dance of colours and patterns. Its heartwood boasts a deep, rich red-brown, etched with mesmerizing, irregular streaks of a darker hue, swirling across its surface like the traces of a forgotten wind.
18. Zebrawood
Per-board Foot Price (USD): 28
Zebrawood’s namesake stripes, bold as a zebra’s pelt, are not mere paintbrush strokes but the intricate interplay of light and dark within the wood’s natural grain. Each piece possesses a unique fingerprint, making it as much a sculpture as a functional object.
17. Pink Ivory
Per-board Foot Price (USD): 30
Pink Ivory is a coveted hardwood sourced from trees rarely exceeding 35 feet and 12 inches in diameter. Its heartwood boasts a mesmerizing palette, transitioning from a blush pink to a warm caramel, each piece boasting a unique whisper of its own.
16. Genuine Mahogany
Per-board Foot Price (USD):30
Mahogany trees grow all over Central and South America! They’ve been prized for their beauty and amazing wood since explorers sent them to Europe hundreds of years ago. The wood is strong, works well for building things, and has a gorgeous deep red colour.
15. Red Heart
Per-board Foot Price (USD): 32
Redheart, a Central and South American hardwood, captivates with its vibrant blush, ranging from delicate pink to smouldering red. However, its fiery beauty is vulnerable to ultraviolet light, causing colours to fade over time. But fear not; this behaviour is parred for the course with many red-hued kinds of wood like Padauk and Bloodwood. A simple ultraviolet-blocking finish safeguards Redheart’s stunning hues, ensuring your creation retains its radiance.
14. Holy Wood
Per-board Foot Price (USD): 35
Holy domestic hardwood, prized for its exceptional machinability, excels in turning, carving, and inlay work. However, its rarity reflects its humble stature: slow growth and modest tree size limit commercial availability. Moreover, winter felling is critical to preserve its pristine ivory-to-white colour, warding off potential blue stains and greying.
13. Honduras Rosewood
Per-board Foot Price (USD): 36
Honduran Rosewood is a captivating chameleon, its hues shifting from a delicate pinkish brown to a deeper, almost purplish tone, all etched with fine, contrasting stripes. This variability is part of its charm, reflecting the natural diversity within the rosewood family. Antique restorers rely on rosewood’s chameleon nature to bring faded pieces back to life, seamlessly mimicking the patina of time. Captivated by its inherent beauty, furniture makers choose rosewood for its ability to elevate any creation.
12. Koa Wood
Per-board Foot Price (USD): 45
More than just a tropical jewel, Koa is a highly sought-after Hawaiian hardwood renowned for its exceptional durability and captivating beauty. This native species (Acacia koa) stands tall among its peers, reaching heights of 65-100 feet (20-30 meters) with a trunk diameter of 3-5 feet (1-1.5 meters). Its impressive strength, exceeding 7,060 lbf/in2, further elevates Koa as a truly exceptional material.
11. Cocobolo
Per-board Foot Price (USD): 50
Hailing from the lush tropics, Cocobolo wood reigns supreme amongst its peers, both in sight and sound. Craved by makers of fine furniture and musical instruments, it boasts a colour palette of rich, deep reds punctuated by mesmerizing swirls. The Cocobolo tree stands proud at 75-80 feet, its reddish-brown, scaly trunk a testament to its resilience. Yet, beneath this captivating beauty lies a practical truth: Cocobolo’s medium stature and often gnarled form contribute to its rarity and exclusivity.
10. Italian Olive
Per-board Foot Price (USD): 50
Gracing countless objects with its rich hues and enduring strength, olive wood hails from the sun-drenched shores of the Mediterranean. Primarily nurtured in countries like Israel, Palestine, and others along the southern and eastern coasts, these resilient trees require minimal care. Their lineage stretches back millennia, with the oldest documented olive tree boasting over 6,000 years of life. Indeed, it is a testament to nature’s perseverance and the enduring beauty it crafts.
9. Burmese Teak
Per-board Foot Price (USD): 53
Reigning supreme among its species, Burma Teak has long enchanted homeowners with its unparalleled durability and golden elegance. This prized wood, sourced from Myanmar’s ancient forests, has fueled a surging appetite for timeless furniture crafted to endure generations. Meanwhile, olive wood emerges as a sculptor’s muse, its tight grain yielding to simple tools and yielding masterpieces that marry form and colour. The Burmese Teak tree’s height ranges from 100-130 ft (30-40 m).
8. Ebony Wood
Per-board Foot Price (USD): 80
Renowned for its deep, luxurious colour and exceptional durability, ebony wood reigns supreme in crafted applications. Ebony’s dense heartwood offers unparalleled performance, from intricate inlays adorning fine cabinetry to musical instrument parts demanding resilience. This diverse family encompasses over ten distinct species, each reaching stately heights of around 30 feet. Furthermore, ebony’s natural resistance to termites and insects ensures lasting beauty and value, making it an exceptional choice for discerning projects.
7. Macassar Ebony
Per-board Foot Price (USD): 93.75
Macassar Ebony lumber, a prized wood native to Indonesia, stuns with its rich, dark beauty and exceptional strength. This exotic species, scientifically known as Diospyros celebica, boasts high density and stiffness, making it ideal for demanding applications. Macassar Ebony’s average dried weight is 71 pounds per cubic foot.
6. African Blackwood
Per-board Foot Price (USD): 100
African blackwood density is 79 lbs/ft³ (1,270 kg/m³). Heartwood stands 20-30 ft (6-9 m) tall. This exceptional wood typically boasts a deep, velvety blackness with scarcely a hint of grain, though rare specimens exhibit a subtle brown or purplish cast. The thin, pale yellow sapwood contrasts distinctly with the dark heart, marking a clear boundary for crafting.
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Disclosure. None. 20 Most Luxurious and Expensive Woods for Furniture In The World was initially published on Insider Monkey.