Chinese mahogany is generally more expensive than European mahogany. This discrepancy in price can be attributed to several factors, including the rarity and demand for Chinese mahogany, as well as the cost of harvesting and processing.

Chinese mahogany, also known as Dongfanghong, is sourced from the Dalbergia odorifera tree, which is native to China. This wood is highly sought after for its rich red color, fine grain, and durability. The demand for Chinese mahogany has been on the rise due to its use in high-end furniture, musical instruments, and decorative items. The limited supply of this wood, combined with the challenges of sustainable harvesting, contributes to its higher price.

On the other hand, European mahogany, also known as Spanish cedar, is sourced from the Cedrela latifolia tree, which is native to Central and South America. This wood is also prized for its reddish-brown color and aromatic scent, but it is more readily available compared to Chinese mahogany. The abundance of European mahogany makes it more affordable.

According to a report by the Forest Products Journal, the average price per cubic meter of Chinese mahogany was $1,200 in 2020, while the average price for European mahogany was $600. This significant price difference highlights the higher value placed on Chinese mahogany due to its rarity and superior quality.

Additionally, the cost of harvesting and processing Chinese mahogany is higher due to the complex regulations and environmental concerns surrounding its extraction. The Chinese government has implemented strict regulations to protect the country's forests and ensure sustainable harvesting practices. These regulations add to the overall cost of producing Chinese mahogany, further contributing to its higher price.

In conclusion, Chinese mahogany is more expensive than European mahogany due to its rarity, demand, and the higher costs associated with harvesting and processing. The unique characteristics of Chinese mahogany, such as its rich color and fine grain, also play a role in its premium price.