13 June 2018
Belpearl Auctions (HK) Ltd is maintaining a resplendent outlook for the loose pearls sector with golden South Sea pearls leading the growth, fuelled by sturdy demand from Asian buyers.
Pearl auctioneer Belpearl Auctions (HK) Ltd remains optimistic about the future of the pearl industry. Michael Hajjar, director of business development at Belpearl, talks about the company’s long-term plans as well as growth prospects in 2018.
JNA: Based on the results of Belpearl auctions earlier this year, what are your expectations for upcoming auctions? What do you think will be the fastest-moving products and which markets are likely to drive growth?
Michael Hajjar: Tahitian pearl prices seem to be enjoying strong premiums as supply of high-quality, round dark pearls is tightening due to Chinese demand. Prices of golden South Sea pearls maintained strong premiums although yellow-coloured pearls experienced a drastic price correction earlier in the year. Prices however returned to higher levels following a successful March Hong Kong Fair.
JNA: What is your outlook for the pearl business in 2018? Could you share with us some bright spots as well as challenges in terms of demand and pricing?
Hajjar: Growth in the South Sea pearl industry continues to be driven by Asian demand and we expect this to continue at a steady pace through 2018. Pricing on vividly coloured pearls such as deep gold, deep black and bright white seems to carry premiums as traders continue to snap up stocks that are limited in supply.
JNA: What can we expect from Belpearl in the next five years?
Hajjar: We will continue to provide the market with a fair, balanced and, above all, trusted platform by which fine-quality pearl producers can benefit from direct access to, and seeing their pearls reach, the international market. Our scheduled auction this month features two premier Indonesian pearl producers. Bima Sakti Mutiara’s latest harvest of high-quality pearls from its farms, and the harvest of Timor Otsuki Mutiara are taking centre stage on June 16 and 17. The Motupoe Auction, which will feature Tahitian pearls from producers across Tahiti, including two new sources from the Tuamotu Islands, is scheduled the following day.