Two Tahitian pearl auctions held in March this year in Tahiti fetched a total of nearly 5.2 million euros, asserting a high demand for quality pearls which are comparatively affordable than other luxury products amidst the slow economy, according to a recent release from the Tahitian Pearl Association Hong Kong (TPAHK).
The 15th Cooperate Tahiti Auction (Rikitea Auction) was held 27-29 March 2016 in Tahiti where 99 percent of 316,798 Tahitian pearls were sold for nearly 3.5 million euros. Major buyers were from Japan, Hong Kong, French Polynesia, mainland China, the United States, Hawaii and New Zealand. Asian buyers contributed to 65 percent of the pearls sold or 67 percent of the total sales. Renowned buyers from Hong Kong were Chan Ming Wing Pearl International Ltd, Eastern Pearl Co Ltd, Fook Yue Pearl Co Ltd, Gyso Pearls & Jewellery (HK) Ltd, and Luen Hing Pearls & Jewellery Ltd.
Organiser of the auction Dominique Devaux commented: “This is the best result we have achieved since the launch of the auction. The drop in production due to a lack of oysters has led to a lower quantity of pearls produced for more than one year.” He added that top quality Tahitian pearls only represents less than two percent of the total production. Price will be kept on an upward trend due to excessive demand.
The 7th Tahiti Auction organised by GIE Poe O Tahiti Nui was held 27-28 March 2016. A total of 188,315 pearls achieved over 1.7 million euros, among which nearly 1.3 million euros or over 76 percent of total sales were made by Asian buyers especially those from Japan, Hong Kong and Taiwan. (Photo courtesy: TPAHK)
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