Traditional Tibetan dress up in their finest and wearing their most precious Jewelry during this festival. The most common gem stones are worn in the jewelry are Turquoise and red coral..Changtang Chachen Horse Race Festival (August 10th) is the most important festival in northern Tibet during the golden season on the grassland. Thousands of herdsmen throng to Nakchu riding fine horses and carrying local products. They erect a tent city south of Nakchu town. They celebrate with a thrilling horse race, archery contests, and demonstrations of horsemanship. Song-and-dance troupes from all parts of Tibet add to the festivity. It is said that this is the highest horse racing festival in the world, at 4800 meters.