Pu-erh is one of the few teas that genuinely improves with age, making it a legitimate collectible. Dry-stored cakes from reputable factories (Dayi, Xiaguan, Menghai) from the late 1990s-2000s have seen substantial price appreciation. Key factors when evaluating: storage history (dry vs wet), factory authenticity, leaf grade, compression quality, and the characteristic 'aged warehousing' notes of camphor and dried wood. Beware of artificially aged tea sold as vintage.
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