I think they're very different! Magnolia is on the fuchsia/purple side and RE is on the pink/red side.
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I always thought Rose Extreme was more raspberry red but compared to Magnolia it looks more orange red.
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Yes, the lighting and type of leather make a huge difference. My picture was under fluorescent office lighting and not altered. Normal light makes rose extreme look like a blue raspberry red. Magnolia can have that hint of blue too but can also look more like rose lipstick. Depending on the lighting, magnolia can be my favorite color or not so favorite color. I definitely prefer the color saturation of both in swift leather.In this picture it does, but what I am seeing here doesn’t match what I know both colors to be IRL. It seems like the combination of lighting and angle are throwing both colors off a bit (plus we know how notoriously difficult H colors are to photograph!).
Here is a photo I took with RE and Jaune Ambre samples recently. I color adjusted the photo when I took it to match the true color of RE that I was seeing in front of me.
ETA: I think the leather makes a huge difference, too.
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They are very different colors! I think Magnolia is a bit easier to work into any wardrobe.