border regions during this period often resulted in changes to the black market smuggling of jade across the border. After 1962, General Ne Win nationalized the mines and prohibited private mining and sale of jade and gems. All such trade was to be conducted only through the Ministry of Mines. From 1964 onwards, the Ministry of Mines set up the Myanmar Gems Enterprise to manage the sale of jade at government-controlled auctions in Rangoon. Smuggling of small quantities of jade continued, however. The Ministry of Mines now conducted the extraction and sale of jade exclusively through their auctions (emporiums). From 1964 to 1975, dollar volume of jade sales remained less than $1 million. The first time jade sales reached more than $1 million was in 1976. The amount of jade sold in dollar terms achieved $1 billion in 2010. Restrictions on private mining enterprises slowly eased throughout the 1980s and 1990s (see above). Present-day Until the capital of Myanmar was moved from Yangon (formerly Rangoon) to Naypyidaw, jade auctions were held in the city. The auction procedure was open only to invited buyers. Buyers were given time to view and examine the jade boulders with provisions for light, water, and other paraphernalia necessary for close examination. The auction was held over a 10-day period, with viewing occurring the first day, along with auctions of gems and pearls, followed by auction of jade. All registered buyers received catalogues and an assigned bidder number, which had to be recorded on their bid form. Bid forms were collected by MGE officials and opened by the auction committee. MGE classifies jade into Imperial jade (7 grades): grade A brings the highest price. The catalog then lists Commercial jade (also 7 grades): higher grades of commercial jade, both cabochons and rough, are priced very close to imperial jade. The third grade is Utility jade, which is of such quality that it can be used only for carving and made into cups and saucers and other decorative items. This utility jade is commonly bleached and dyed. After the capital was moved to Naypyidaw, auctions were held there. In the 1990s ceasefire agreements between the Burmese government and ethnic militias have opened up the jade business to third parties. Under the 1995 Myanmar Gemstone Law private individuals were once again officially given the rights to private ownership and sale of jade in exchange for a 10% tax