The 16th Cooperate Tahiti Auction (Rikitea Auction) was held between 24 and 26 July 2016 in Tahiti, French Polynesia. The results were 42.7 percent higher than expectation. A total of 350,621 Tahitian pearls in a wide variety of colours, shapes and sizes were under auction. Over 96 percent or 338,373 pieces were sold for a total of 3,481,317 euros.
The sale drew more than 40 quality buyers from Japan, Hong Kong, French Polynesia, the United States, Canada, New Zealand, etc. New buyers come from Oceania, the United States and Europe this time reflecting a positive sign in those regions. Buyers from Asia accounted for 67 percent of the total sales and so as the total number of pearls sold. Major buyers from Hong Kong were Chan Ming Wing Pearl International Ltd, Eastern Pearl Co, Ltd, Fook Yue Pearl Co, Ltd, Gyso Pearls & Jewellery Ltd, Luen Hing Pearls & Jewellery Ltd and Merit Jewellery Group Limited. There are keen competitions for large-sized Tahitian pearls in various shapes. The unit price per piece increased four percent.
Auction organiser Dominique Devaux said: “The results were 42.7 percent higher than expectation and up in the continuity of the last four auctions. We believe that Chinese market for Tahitian pearls is still growing. Reviewing from Hong Kong’s leaping up as the top buying city and the stable purchase from other regions, buyers are confident in the market of Tahitian pearls.”
The pearls of this auction are famed of their quality and variety of colour. Devaux committed to continue striving to ensure the quality of the auction, and send all pearls to test and get certificates prior to the auction. The next auction is scheduled in November 2016 in Tahiti.
Information and photo source: Tahitian Pearl Association Hong Kong (TPAHK) and Gie Poe O Rikitea
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