Exceptional Auction: 660 Lots of Pearls Presented by GIE Poe O Rikitea
By Sandrine, Friday 25 July 2014 at 13:33 :: Auction sales
The Economic Interest Group (GIE) Poe O Rikitea is making headlines by offering 660 lots of pearls for sale, with the goal of generating nearly 400 million Pacific francs.
Throughout this week, around fifty buyers from both local and international companies are taking part in the preview phase to carefully examine the pearls ahead of the official auction on July 27. The wide variety of lots gives producers hope of conquering both local and foreign markets.
Among the participants, Loic Wiart — one of the largest local buyers — has mobilized two teams of four people to evaluate some 2,000 lots across the five planned auctions. His meticulous selection is based on the precise demands of target markets, both for export and domestic sales.
The average wholesale price of loose pearls remains stable at around 2,000 francs, regardless of market fluctuations. It is worth noting that 85% of the pearls from these transactions are destined for export, further strengthening the international presence of the Tahitian pearl.
The highlight of this sale: an exceptional pearl measuring 20.8 millimeters in diameter — a true treasure that underscores the importance of this event for the Polynesian pearl industry.
