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Most summer auctions in 2018 were dominated by precious metals, diamonds, rare gemstones, and pearl made a comeback. Pearl was highly in demand in some of the auctions. The auction in Geneva, Switzerland in June showcased a gold and pearl earring by Sotheby. A diamond ring and a Burmese ruby and pearl items were in the range of $ 5,900 to $120,100. The auctions of jewelleries by Sotheby’s held in the UK showcased Cartier necklace-based on 20.30 carats diamond and pearl. Pearl has been out of fashion for some time, albeit, the price of a pearl necklace at the auction in Hong Kong in May by Christie’s Magnificent Jewels was up to US $ 2.8 million.
The online auction of Audrey Hepburn’s pair of pink ballet pumps and pearl earrings by Christie in the year, which include other items belonging to the Oscar wining Tiffany’s actress was expected to get in the range of £200 to £15,000.
Types of pearls and its price
Price of pearl varies depending on quality and type of the pearl, and also on the type of gemstone and precious metals used in the jewellery. The colour, shape, lustres and size of the pearl, partially, determines its market price. Harvesting of pearl requires minimum two years and the market of pearl has grown three times in seven years.
Workmanship, demand, marketing strategy (branding, association to celebrated personalities etc.) and supply have direct impact on the market rates.
Pearl producers and global market
Australian pearl accounts for less than one per cent of the global pearl production but the sale value is about 25 per cent of the global value. The largest producers of pearl in the world include Tahiti and China. The highest demand for pearl jewellery is in the Eastern Europe and the Middle East.
The global market of pearl is expected to grow to US dollar 1,777.3 million in 2018 from US dollar 1,174.5 million in 2014 (as per World Bank report).
Paspaley is one of the leading pearl producers, which accounts for about 70 per cent of the pearl production in Australia. It has many farms of pearl where it, mainly, cultivates Pincdata maxima, widely used in jewelleries and also in Chinese and Ayurvedic cures.
Ecommerce provides new platforms for the branding, marketing and sale of pearl. It is estimated at least 10 per cent of the global sale of pearl will go online by 2020 and the jewellery items will be highly in demand in the Asian and the Middle East markets.
Consumption expense and value of processed pearls
The total consumption expense on pearl increased at the rate of 10.3 per cent in the 5 years ( 2009-2013) in the world market, where the value of pearl items increased from US dollar 8,109.0 million to US dollar 11,984.3 million. The consumption expense is expected to be around US dollar 19,704.2 million in 2018.
The total value of processed pearl will grow at the rate of 4.1 per cent to US dollar 3,086.4 million in 2018 from US dollar 2,630.8 million in 2014, as per World Bank data.
To find out more about pearl production, markets and sales, click 99 Alternative – (http://www.99alternatives.com).
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