Mahogany is generally more expensive than elm. This is due to several factors, including the rarity and demand for mahogany, as well as its superior wood properties. Mahogany is a premium hardwood that is highly sought after for its rich color, durability, and workability. It is often used in high-end furniture, cabinetry, and musical instruments. Elm, while also a durable and versatile wood, is more commonly available and thus less expensive. According to the American Hardwood Export Council, the average price per board foot of mahogany can range from $5 to $15, whereas elm can be found for as low as $2 to $4 per board foot. This significant price difference reflects the higher value placed on mahogany in the market.