Robert Wan sells 76% of Tahitian pearls at Kobe auction

(Tahitipresse) - Despite buyer claims of "quitehigh" average prices, the recent 28th RobertWan/Tahiti Perles Auction in Kobe, Japan,sold 76% of the Tahitian pearls offered,earning 5.09 million euros, or US$6.54million, according to a media report fromHong Kong.

The two-day auction held from May 16-17offered 258,965 Tahitian cultured pearls,196,717 of which were sold for an averageprice per pearl of 25.89, or US$33.27, theHong Kong-based magazine Jewellery NewsAsia (JNA) is reporting in its July edition. There were 94 potential buyers and 60 actual buyers.

This was Wan's second auction of the year, the first having sold about 80% of the pearls on offer in March despite some buyers' claims that the prices of higher-quality goods had increased by 20%. That auction, held in Hong Kong, earned 5.83 million, or US$7.05 million, JNA reported.

There were two special visitors to the Kobe auction—French Polynesia President Oscar Temaru and his newlyappointed perliculture minister, Michel Yip. They were on an official visit to Japan, which include a trip to Kobe forthe auction and the 10th International Jewellery trade show.

The 29th Robert Wan/Tahiti Perles Auction, the third Wan auction this year, is due to be held in Hong Kong fromJune 22-23.

At the latest auction in Kobe, "most buyers said the average prices were considered quite high given the goodsupply of 9 mm pearls and low availability of 13 mm or larger" pearls, JNA reported. Buyers also said pearl priceswere notably higher when compared with pearls of the same quality and size, according to JNA.

Wan, however, told JNA he considered his prices were very firm and were about the same compared with thoseof the Kobe auction held in May 2005. Wan added that he felt buyers were satisfied with the quality of Tahitianpearls he presented at the latest auction in Kobe.

One buyer agreeing with Wan, Hosei Co. Ltd. Chairman Yoshiro Shimizu, told JNA he felt the quality, especiallythe color of the Tahitian pearls, was good and similar to that found at the previous action in Hong Kong in March.

"However, there seemed to be less fancy colors and more dark colors this time than at the March Hong Kongauction," Shimizu said. "That was probably due to the harvest time, among other reasons," he added.

Tahitian cultured pearls are the second best-selling pearls in Japan, after Akoya pearls, Shimizu told JNA.Buyers at the May Robert Wan/Tahiti Perles Auction confidently submitted their bids, particularly for the nicequalitypearls, due to the strong Tahitian pearl market, he said.

Most of the 94 buyers present for the Kobe auction were from Japan, Wan said, followed by France, Switzerland,Taiwan and the United Kingdom. There was only one buyer from Hong Kong, which used to be a major source ofbuyers for pearl auctions.