Grogan, J. & Barreto, P. 2005.On 15 November 2003, big-leaf mahogany ( Swietenia macrophylla , King. Meliaceae), the most valuable widely traded Neotropical timber tree, gained strenghened regulatory protection from its listing on Appendix II of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). What happens next? Can Appendix II listing solve the mahogany problem? In this article, the authors summarize the lastest events related to the attempt of controlling mahogany international trade and discuss the challenges and opportunities to successfully implement the Appendix II to mahogany.