The 21st Cooperate Tahiti Auction (Rikitea Auction) was held from 25th to 26th March 2018 in Tahiti. The result is encouraging with 22% percent higher than its estimation.
A total of 367,262 Tahitian pearls in a wide variety of colours, shapes and sizes were under auction. 97.55%, 358,298 pieces fetched a total of 4,077,640euros. The sale drew quality buyers from Japan, China, Hong Kong, French Polynesia, the United States, Hawaii, etc. Buyers from Asia accounted for 86.31% by pearls sold and 90.23% by total sales. 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., etc.
Asian buyers (China, Japan & Hong Kong) are aggressive in the bid, particularly the top-quality pearls. It shows that they have strong confident in the market and project an optimistic outlook. Compare with the auction held in March last year, there is 10% & 18% acceleration in the no of pearls and sales Asian buyers bid respectively.
The next auctions in Tahiti are scheduled in July 2018
A total of 297,688 Tahitian pearls in a wide variety of colours, shapes and sizes were under auction. 98.16%, 292,214 pieces fetched a total of 3,291,153 euros. The sale drew quality buyers from Japan, Hong Kong, French Polynesia, the United States and Europe. Buyers from Asia accounted for 72 % by pearls sold as well as total sales. 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. & Man Sang Jewellery (Hong Kong) Ltd. , Merit Jewellery Group Ltd., etc.
Mr Dominique Devaux, the auction organizer expressed, “thanks to the good sales at Hong Kong Jewellery show and Kobe Jewellery show, keen competition and satisfactory sales are recorded in the auction. When compared with the auction in last July, the sales has increased by 10 %.” He further added, “I think prices may rise even higher as it is very difficult to find good luster pearls.” Only 5,474 pieces of pearls are unsold, accounts for 1.84% of the total pearls displayed.”
Two other renowned Tahitian pearl auctions were held concurrently in Tahiti, namely Robert Wan Auction (Jul 24) & Tahiti Poe O Tahiti Nui Auction (Jul 23). According to the industry player, both auctions recorded satisfactory sales.
The next auctions in Tahiti are scheduled in November 2017.
According to Jonathan Cheng, organizer of the auction, “the market has picked up over the last few months. The buyers were much more confident in bidding.” Tahitian pearls in good colour remain highly sought after. He added, “demand for these pearls is stronger than ever but supply remains very limited.”
Concurrently, Poe Raua Nui Auction was held. A very satisfied result was noted. The next auctions in Hong Kong are scheduled in September 2017.