THE pearl auction at the last mid-year gems emporium sold 80 percent of its pearl lots, said a Myanmar Pearl Enterprise (MPE) official on November 19.

U Sein Lwin, MPE general manager, said the enterprise sold 207 lots out of 259 put up for auction during the emporium which ran from November 14 to 16.
“This is one of the best pearl sales on record,” he said. The pearl sale alone attracted 21 companies from Japan, Australia, Thailand, Hong Kong and Singapore.

U Sein Lwin said the enterprise is planning another pearl sale from November 28 to 30 for local pearl traders only. He said he expects the next sale at the emporium will be “great” as the local pearl sale aims to sell only to local pearl dealers with Myanmar currency.

“Many local traders couldn’t come to the mid-year gems emporium as they didn’t have foreign exchange earnings. So we expect more local traders will come to this sale,” he said.

U Sein Lwin said some of the pearl lots that were dropped from the mid-year gems emporium would be available at the local pearl sale.

The event will be held at the Gems Emporium Hall in Mayangone township.