Record-Breaking Auction: Over 700,000 Tahitian Pearls Ready to Shine at the July Sales
By Sandrine, Saturday 19 July 2014 at 19:34 :: Auction sales
At the end of July, four Economic Interest Groups (GIE) of producers will orchestrate exceptional auctions of Tahitian cultured pearls in Papeete.
The lot preview will begin on July 21, ahead of the sales scheduled for July 27, 28, and 29. The event will gather around forty local and international dealers across four different venues, showcasing more than 700,000 pearls ready to captivate buyers from around the globe.
For the past three years, pearl prices have been rising steadily, now reaching about 600 XPF per gram. Producers aim to maintain moderate growth, limited to 10–15% per year, in order to preserve the attractiveness of Tahitian pearls on world markets.
Although only three pearl auctions are held annually in Tahiti, they remain highly strategic. In 2013, they generated a turnover of one billion XPF. Already, the first auction of 2014, held in March, had reached around 500 million XPF, confirming a positive trend.
For small producers, these sales represent a vital opportunity to move their production. The process, refined over 35 years, remains reserved for accredited professional dealers, who will submit their bids starting July 21 — without knowing the reserve prices set by the producers.
Highlight of This Edition: The Return of GIE Poe Rava Nui
After an eight-year absence, the GIE Poe Rava Nui is back. This group, bringing together around fifty producers, will present 200,000 pearls, confirming the renewed vitality of the local market.
Focus: An Exceptional 20.8-Millimeter Pearl
As in every auction, rare pearls will take center stage. Among them, a unique 20.8 mm specimen will stand out. Despite being classified as B or C due to slight imperfections, its exceptional luster over most of its surface will make it one of the most coveted gems of the sale.
