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As a pearl trading hub, Hong Kong hosts numerous pearl auctions every year. In November 2018 alone, a string of pearl auctions was held in the city, top-billed by the Rio Pearl auction. The sale offered 465 lots including South Sea pearls from Australia and Indonesia, golden South Sea pearls from Myanmar as well as Tahitian pearls. Of the 198,410 pearls placed on the auction block, 85 percent was sold, generating US$3.08 million.