Business transparency is increasingly important for all industries; and the pearl industry is of no exception. Partnering with independent pearl farms in Indonesia, the Philippines, Myanmar and Tahiti and bringing pearl producers to their auctions, Belpearl Auction seeks to transform the pearl industry and provide international buyers with direct access to South Sea pearls.
With 75 years of experience in pearl sourcing and trading, Belpearl holds three to four invitation-only auctions a year, with Hong Kong being the primary location. According to business development manager Michael Hajjar, auctions held in 2016 performed quite well despite the softening demand from China and Asia in general.
With regard to production, he observed that supply of pearls from Myanmar is increasing. “Due to several technological and ecological setbacks in the past, Myanmar pearl production was low-scale, but now because of the improved farm management and new direct paths to international markets, supply has increased,” Hajjar noted. In the past three years, there have been four new farms added to the six existing farms in Myanmar. He added that the recent improvements in the political sphere could lead to enhanced confidence among foreign investors to invest in the country.
While the effects of the lifting of the US sanctions on Myanmar are yet to be seen, Belpearl is actively working to promote Myanmar pearls through their US distribution branch. According to Hajjar, although US jewellers are well aware of the golden pearls since the 1980s, “very few know the amazing quality that comes from Myanmar.” So their first step is education and the second is to provide government-endorsed certificates of authenticity. In Hajjar’s words, pearls produced in Myanmar possess unusual lustre with colours ranging from canary yellow to dark gold, cream and warm white are also common.
Regarding the South Sea pearl industry as a whole, he saw a lack of regulation on production and generic marketing and branding initiatives. He believed in the need for a sustainability standard with a certification system or a trusted source that jewellers and consumers have confidence in. While this will require marketing methods that come from outside of the traditional scope of precious gemstone and jewellery trade, he regarded efforts such as theirs to bring different producers under one banner should help the industry to plan better for the future. (Photo courtesy: Belpearl Auction)
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