Organised by Belpearl Auctions (HK) Ltd, the Belpearl Auction, which washeld from 26 to 29 November 2017 in Hong Kong, fetched approximately US$5,760,000. Among a total of 429 lots of South Sea pearls from producers in Myanmar, the Philippines, Indonesia and Tahiti, dark golden pearls were sought-after by Asian buyers, the pearl auction house said.
“South Sea pearls in deep golden colours, which are inherently rareespecially if they are clean and round, are being held by traders as a safe investment,” said Michael Hajjar, director of business development, Belpearl. He also stated that sales of black South Sea pearls from Tahiti and specifically the island of Rikitea in the Gambier have been robust, owing to the strong demand for darker black South Sea pearls.
Attracted over 75 companies to bid, the auction result reflected the impact of the demand from China on the pricing structure of the South Sea pearl market, according to Hajjar. He told Hong Kong Jewellery that the last five to 10 years witnessed dominated demand for South Sea pearls from Asia, especially China for golden South Sea pearls. China’s traders are inclined to purchase pearls in darker golden colours, irrespective of quality. This represents a shift in the value system which was dictated by surface quality and roundness as the main value factors.
Lots in the auction were from Myanmar Atlantic Pearl Co, Belpearl Myanmar, Belpearl Indonesia, Bima Sakti Indonesia, Timor Otsuki Mutiara Indonesia, and Sumapi Philippines.
Belpearl holds pearl auctions in collaboration with quality-focused producers of South Sea pearls. To ascertain pearl quality, Belpearl pays close attentionto the results of previous harvests from their auction partners. Hajjar said that generally, the harvest quality profile is consistent, though some farmers produced smaller-sized pearls in 2017, mainly due to either farm management decisions or environmental factors. “Pearl farming is unique and operated in production cycles that are slow. It takes about two years from seeding an oyster to getting a pearl, or four years if you start from growing the oyster,” he explained.
Belpearl currently has 11 auction partners and has added another producer from Tahiti who has signed on for the company’s next auction which will be held in February 2018. “Our success has always been providing an organised auction format for producers to get the highest possible prices for their harvests,” Hajjar concluded. (Photo courtesy: Belpearl)
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