An international pearl trading hub, Hong Kong superseded Japan as the world’s largest Tahitian pearl export market of French Polynesia in 2014. Notwithstanding the uninspiring global jewellery market in the midst of the weak economy across the board last year, the Tahitian Pearl Association Hong Kong (TPAHK) exerted its best effort to promote the image and boost the value of Tahitian pearls in Greater China by a series of initiatives. TPAHK’s general manager Ida Wong has more on it with an update of the pearl’s trends.
In an attempt to advance the understanding of Tahiti and Tahitian pearls, TPAHK brought 20 delegates from the pearl industry in China to Tahiti in November 2015. Made up of top executives from the pearl industry and key officials from Shenzhen Pearl Industry Association, the delegation visited Tahitian pearl auctions, quality control department, Robert Wan Museum, etc. “The delegates gave the tour an unanimous applause for it equipped them with sound knowledge on the beautiful landscape of Tahiti and the Tahitian pearls. They had also brought up the strong quest to implement promotion programmes in major cities in China such as Shenzhen,” Ida Wong expressed.
“We have also sponsored 2015 Miss Jewelry Hong Kong where the finalists and the winners were adorned with exquisite Tahitian pearl jewellery which successfully enhances the image of the pearl among the trade and the public,” she added. For buyers at trade fairs, the association has produced new premiums and a pearl care kit which are said to be well-received.
“In terms of exposure, we are one of the most aggressive associations with news coverage every quarter,” Wong claimed.
Despite increasing global demand for Tahitian pearls, supply is dropping due to slashed production resulted from shortage of baby oysters and climate change. Figures from Marine Resources Authority of French Polynesia show that total exports of Tahitian pearl in 2014 were 14.3 tonnes, an 11-percent drop over the 16.1 tonnes in 2010. In value terms, however, it registered a 17-percent increase from 7.4 billion XPF in 2010 to 8.6 billion XPF in 2014. Average price per gram during the years went up by 31 percent, while that of top-quality pearls doubled.
Hong Kong and Japan take the lion’s share of Tahitian pearl exports, with 52.1 percent (7,471 kg) and 43.8 percent (6,276 kg) respectively in 2014.
Auction results also reflect the world’s immense demand for the black pearl. At the 14th Cooperate Tahiti Auction (Rikitea Auction) held during 8-10 November 2015 in Tahiti, among the total of over 288,000 Tahitian pearls in different colours, shapes and sizes on sale, 98 percent or nearly 283,000 pearls were sold for over 3.1 million euros, exceeded expectations by 30 percent, according to Wong.
When it comes to consumption preference, she said mainland Chinese prefer top-quality round Tahitian pearls in 10mm or above with dark and strong colours, while 8-9mm in different shapes are more popular in Japan, Europe and the United States.
Tahitian pearls have reached out to young consumers thanks to the chic jewellery design, the surge of internet shopping, and the quest for individuality. “For young consumers, they tend to choose simple and fashionable jewellery suitable for daily wear. For contemporary and middle-class women, personalised and unique designs that speak for their characters are sought-after,” Ida Wong noted.
Speaking of the outlook for 2016, TPAHK is optimistic about Hong Kong’s exports of Tahitian pearls due to limited supply and constant demand. As the association’s president Johnny Cheng puts it: “Hong Kong, a tax free port with no price, import and export control of jewellery, is the best platform to meet east with west.” With the world’s largest jewellery shows and nearly 10 Tahitian pearl auctions being held in the city each year, Hong Kong is believed to keep striving to sustain its momentum as the world’s major pearl trading centre in 2016.
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