Category: Auction sales

The fourth edition of Tahiti Auction took place yesterday, Thursday, in the gardens of Paofai at the Direction des Ressources Marines. Organized by GIE Poe o Tahiti Nui and Tahiti Pearl Auction, this international pearl sale brought together key industry players under the watchful eyes of President Edouard Fritch and the Chinese consul, who were present to assess the state of French Polynesia’s pearl sector.

A total of 280,000 pearls, primarily sourced from the Tuamotu lagoons, were offered for sale across 277 lots. Buyers from China, Japan, the U.S., and Australia participated, reaffirming strong international demand for Tahitian pearls.

A Market Under Pressure

Organizers had hoped to achieve sales between 250 and 300 million Fcfp (XPF)—a target shared by producers grappling with an ongoing crisis. The root cause? Overproduction in recent years, which has far exceeded global demand. As a result, prices have plummeted, destabilizing the entire industry.

Compounding the issue is an overall decline in pearl quality, further straining the sector. President Fritch addressed this reality head-on, urging regulation: “We must enforce production controls and implement necessary administrative measures. This is a priority if we want to safeguard the future of this iconic industry.”

Balancing Supply and Demand

The auction highlighted both the enduring appeal of Tahitian pearls and the urgent need for production discipline. With international buyers still engaged but prices under pressure, the sector faces a critical juncture—one that will require coordinated action to restore equilibrium.

This week, French Polynesia is hosting a landmark event: the auction of 600,000 pearls, drawing dozens of international buyers and high-profile officials, including three ministers, the President of French Polynesia, and a Pacific Islands Forum delegation. The gathering underscores the critical role of the pearl sector in the local economy.

A High-Stakes Auction

📍 Venue: GIE Poe o Tahiti Nui (former Maison de la Perle)
🌏 Global Competition: Pacific nations vie for a share of the global pearl market
📜 Policy Shift: Minister of the Blue Economy Teva Rohfritsch announced a new territorial law to restructure the industry, focusing on:
✔ Quality standards
✔ Production and inventory management
✔ Island-based concession reforms

By the Numbers

💎 GIE Poe o Tahiti Nui: 223,000 pearls (190 lots)
💎 Robert Wan: ~100,000 pearls (388 lots)
💎 GIE Poe o Rikitea: 293,000 pearls (645 lots)

“Auctions remain the best way to ensure fair value, far from informal sales,” emphasizes Élisabeth Moe, President of GIE Poe o Tahiti Nui.

Industry Calls for Action

🔊 Pearl Farmers’ Demands:

• Increased international promotion
• More funding for global marketing

🏛 Government’s Stance:
Prioritizes structural reforms before launching new promotional campaigns.

Buyers & Market Outlook

✈ Key Buyers: Primarily from Japan and Hong Kong
📉 Challenges:

• Price drops for mid-grade pearls
• Global market volatility

The future of Tahitian pearls hinges on quality control and adapting to global trends. As bids unfold, Polynesia’s pearl industry stands at a crossroads—balancing tradition with the demands of a competitive luxury market.

(This auction could set the tone for the sector’s revival—or reveal the need for deeper transformation.)

The GIE Poe O Rikitea is setting a new benchmark with its July pearl auction, presenting 660 curated lots with an ambitious 400 million FCFP sales target. This event underscores Tahiti’s enduring dominance in the global pearl trade.

Auction Highlights

🔍 Pre-Sale Inspection (July 21-26)

• 50+ international and local buyers scrutinizing lots
• Advanced digital tools complementing traditional grading methods
• Special “buyer concierge” service for VIP clients

💎 Star Attraction

• The 20.8mm showstopper pearl (equivalent to a rare AA+ grade)
• Accompanied by full UV reactivity and micronucleus documentation
• Projected to fetch 3-4x standard auction prices

Market Insights

🌐 Export Dominance

• 85% of lots destined for:
  • Japan (40%)
  • China/HK (30%)
  • EU/US (15%)
• New interest from Middle Eastern buyers noted

📊 Pricing Trends

• Stable wholesale at ~2,000 FCFP/pearl
• Premiums up to 25% for:
  • Metallic overtones
  • Perfectly round >15mm specimens
  • Rare pistachio/peacock colors

Behind the Scenes

🤵 Loic Wiart’s Buying Strategy

• Deploying 8 expert graders across 5 auctions
• Custom AI-assisted sorting for market-specific demands:
  • Japanese buyers: Preference for 10-12mm rounds
  • European designers: Seeking baroque pearls
• Allocated 120M FCFP for premium acquisitions

Industry Impact

This auction serves as a critical test for:

1. Post-pandemic market resilience
2. New Chinese tariff adaptations
3. Sustainable farming premium viability

“The 20.8mm pearl isn’t just merchandise—it’s a statement,” remarks a veteran trader. “Its sale will set the tone for next season’s pricing.”

Pro Tip: Watch for last-minute bidding wars on the “Tahitian Black” collection—these ultra-rare (>21mm) pearls have shattered records at every auction since 2019.

Papeete is preparing to host an extraordinary showcase of Tahitian cultured pearls, as four producer collectives (GIEs) gear up for their landmark July auctions.

Key Auction Details

📅 Preview: July 21
💎 Sales Dates: July 27-29
🌏 Buyers: 40+ local and international traders across four venues
✨ Total Pearls: 700,000+ (including a rare 20.8mm standout)

Market Momentum

• 3-year price surge: Stable growth at ~600 Fcfp/gram
• 2024 strategy: Controlled 10-15% annual price increases to maintain global competitiveness
• 2023 benchmark: 1 billion Fcfp in annual auction revenue
• 2024 performance: March sale already hit 500 million Fcfp

Special Highlights

🔹 Return of GIE Poe Rava Nui:

• Back after 8-year hiatus
• 50 producers presenting 200,000 pearls
• Signals renewed market confidence

🔹 The Showstopper Pearl:

• 20.8mm diameter (rare size)
• Graded B/C for minor surface blemishes
• Exceptional luster on 80% of surface
• Expected to spark fierce bidding

Why This Matters

For small-scale farmers, these auctions represent a crucial distribution channel. The 35-year-old system maintains strict professionalism:

• Blind reserve pricing: Buyers bid without knowing minimums
• Licensed traders only: Ensures market stability

“This July’s event isn’t just a sale—it’s a barometer for the entire industry,” notes a veteran pearl grader. With rare specimens and returning producers, the auctions promise to reinforce Tahiti’s dominance in the global pearl trade.

Pro Tip: Watch the 20.8mm pearl—its imperfections tell an authentic story, while its radiance could rewrite price records.

The 8th annual auction organized by GIE Poe O Rikitea was a resounding success, surpassing all projections and delivering outstanding results.

Record-Breaking Sales

• First day: Over 110 million FCFP in sales
• Second day: 171 million FCFP, far exceeding the initial forecast of 151 million
  Japanese buyers dominated the event, emerging as the primary purchasers.

A Rare Pearl Steals the Show

This year’s auction featured a remarkable surprise—an 18.6 mm pistachio-colored pearl of exceptional rarity. Initially, its owner, pearl farmer Dominique Devaux from the Gambier Islands, had not planned to sell it. However, the determination of a private collector convinced him otherwise. The pearl fetched an impressive 1,557,279 FCFP, and its new Japanese owner plans to showcase it internationally as an ambassador for Polynesian pearls.

Strong Demand Across All Lots

• 265 lots offered over two days, with a total reserve price of 151,846,500 FCFP
• Only 22 unsold lots remained by the final clearance day
• Total revenue reached 171,938,548 FCFP, reflecting a 19.65% premium
  Buyers from Europe, Asia, and Polynesia competed for the finest pearls, with Japanese purchasers leading (47,467 pearls), followed by Hong Kong, Polynesian, Danish, and French buyers.

A Bright Future for Polynesian Pearl Farmers

Beyond commercial success, this auction has renewed optimism for Polynesia’s pearl industry. Organizer Dominique Devaux also announced a new pearl oyster hatchery project in collaboration with IFREMER and the Marine Resources Directorate, aiming to enhance pearl quality and strengthen Polynesia’s position in the global market.

The next auction, scheduled for March 2014, is already shaping up to be a must-attend event, further cementing Tahitian black pearls as a cornerstone of luxury jewelry worldwide.

The seventh pearl auction organized by the Economic Interest Group (GIE) Poe o Rikitea concluded triumphantly on Tuesday, shattering all previous records since the event’s inception in 2011.

Record-Breaking Results

💰 Total Sales: Nearly 330 million CFP francs
📈 Success Rate: 83% of lots sold (255,250 pearls) – the highest in auction history
⬆️ Price Premium: Final revenues reached 325.4 million FCFP, exceeding reserve prices by 6%

Buyer Breakdown

🌴 Local Dominance: Polynesian buyers led with 34.84% of purchases
🏙 Hong Kong Close Second: 34.48% market share
🗾 Japanese Demand: Accounted for 25.29% of sales

Participant Profile

👥 47 registered buyers (38 completed purchases)
🔹 Majority representing small pearl farms, showcasing sector diversity

“These results confirm the growing global appetite for Tahitian pearls,” stated auction organizers. The next edition is already scheduled for November 10-12, with equally promising expectations.

Five pearl industry groups, hand-in-glove with Maison de la Perle, launched Tahiti’s 3rd cultured pearl auction Sunday at Sofitel Maeva Beach – and the numbers already sing.

The Opening Act
Marine Resources Minister Temuari Foster and Minister Tauhiti Nena cut the ribbon before a who’s-who of Polynesian officials. The air hummed with the electric tension of 71 buyers – Tokyo pearl barons brushing shoulders with Hong Kong upstarts – all here for 625,345 glimmering orbs (est. 600M XPF).

Day One Fireworks

• 249,592 pearls crossed the block
• Top lots: 18mm “Midnight Suns” fetching 3,200 XPF/gram
• Buyers from Japan, China, UAE locked in silent bidding wars

Behind the Curtain
The Marine Resources Directorate executed military-precise logistics – every lot scanned, every nacre measurement verified. No room for error with 187,944 more pearls hitting the block today.

Why This Auction Matters

• 2010’s gamble pays off: Foster’s vision of local auctions proves its worth
• New alliance: Farmers and bureaucrats finally rowing in unison
• Market signal: Tahiti reclaims its throne as black pearl epicenter

The Real Winners

• Atoll families seeing prices stabilize
• Master grafters whose calloused hands birthed these gems
• The oysters themselves – now valued like the living artworks they are

Papeete’s Sofitel Maeva Beach becomes the beating heart of the pearl trade as 71 Polynesian growers unveil 625,345 luminous orbs – a treasure trove valued at 600 million XPF. Behind closed doors, Japan’s elite buyers (commanding 50% of seats) lock horns with emerging players from Shanghai to Seoul, while New Zealand’s newcomers test the waters.

The Game Changer
For the first time, the Maison de la Perle opens its coffers, bankrolling 30% of operational costs in a historic détente between bureaucrats and salt-crusted farmers. Each dusk, the GIE Poe O Rikitea’s website crackles with real-time results – a digital drumbeat tracking fortunes won and lost.

What’s at Stake

• The Lots: From 12mm “peacock tears” to rare 18mm midnight spheres
• The Future: A five-auction blitz through 2013 targeting 2 million pearls
• The Fight: Proving Tahiti’s black gold can outshine Chinese freshwater rivals

The Players

• The Old Guard: Japanese dealers wielding 40 years of contacts
• The New Money: Thai wholesalers hungry for statement pieces
• The Wildcards: Silicon Valley tech wives seeking trophy jewels

Why It Matters
This isn’t commerce – it’s cultural warfare. Every pearl sold at 2,800 XPF/gram keeps afloat:

• 17 atoll communities
• 3 generations of grafting knowledge
• The myth of Polynesian luxury

Mark Your Calendars

Q1 2013: “The Gauguin Collection” – art-inspired lots

August 2012: The “Monsoon Auction” – when Hong Kong’s tigers pounce

CESC President Highlights Industry Resilience at Unsubsidized Sales Event

In a strong show of support for Polynesia’s pearl industry, Madame Raymonde Raoulx, President of the Economic, Social, and Cultural Council (CESC), attended the year’s second international pearl auction organized by the GIE Poe O Rikitea at Sofitel Maeva Beach. The event showcased harvests from 40+ pearl farmers across the Tuamotu and Gambier archipelagos, united under five Economic Interest Groups (GIEs).

Key Auction Highlights

• 392 lots offered with an estimated total value of 450 million XPF (≈€3.8M)
• International buyers from Japan, U.S., Hong Kong, Canada, Hawai‘i, and mainland France
• Standout piece: An 18mm semi-round “C-grade” pearl from Rikitea with rare red-green iridescence, drawing collector frenzy

Financial Impact & Autonomy

💎 Self-funded success: Zero public subsidies, with 300+ million XPF (≈€2.5M) generated in two days
💎 Day 1 revenue: 126 million XPF (≈€1M)
💎 Tax benefits: ~20 million XPF (≈€168K) for French Polynesia’s treasury

Accompanied by Georges Mataoa (CESC pearl producers’ representative), Raoulx emphasized:
“This auction proves our farmers can compete globally without state intermediation. Their collective effort sustains a vital economic sector.”

Industry at a Crossroads

The event underscored:
✅ Farmer empowerment: GIEs bypass traditional channels like the Maison de la Perle
✅ Market demand: Strong prices despite global luxury slowdown
✅ Cultural legacy: Preserving Polynesia’s pearl heritage through direct trade

“These sales aren’t just transactions—they’re lifelines for our atoll communities,” noted a Rikitea farmer.

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Clash Over Venue Access and Funding Sparks Public Dispute

A brewing conflict between pearl farmers and the French Polynesian government has escalated after officials denied use of the former presidential building for a pearl auction scheduled for August 6-8, 2024. The decision has angered five Pearl Farmers’ Economic Interest Groups (GIEs), prompting a sharp rebuttal from Marine Resources Minister Temauri Foster.

The Core Dispute

• Venue Blocked: GIEs accuse the government of obstructing their auction by refusing access to the historic Presidential Palace in Papeete.
• Government’s Defense: Foster claims the GIEs rejected partnership offers with the Maison de la Perle (Pearl House), the state-backed pearl promotion agency.
• Financial Feud: Farmers allege mismanagement of public funds, while the government insists its budget is 80 million XPF/year—not the 200 million XPF/month cited by critics.

Minister Foster’s Counterarguments

1. “Misinformation Campaign” – Denounces GIEs for “false claims” about Pearl House finances.
2. Historical Context – Reveals 2009 startup costs (213M XPF) were partially funded by state gemstone agency DGDE.
3. Farmer Boycott – Notes that dissident GIEs quit the Pearl House board and now push for its dissolution.

Broader Industry Tensions

The rift follows an April 2024 “rogue auction” in Pirae, where GIEs sold 150,000+ pearls without Pearl House support. This independent move—and the current standoff—highlights:

• Declining trust in centralized pearl marketing
• Power struggles over who controls Tahiti’s “black gold” brand
• Economic pressures as pearl prices fluctuate

What’s Next?

• The GIEs may relocate their August auction, risking lower visibility.
• The government could tighten regulations on independent sales.
• Pearl House faces legitimacy challenges if more farmers defect.