Are pearl prices on the rise?

[heartofawareness]

I was speaking with a vendor looking to buy some South Sea Pearls and she told me that

"pearl prices have risen by about 50% or more recently due to the drop in cultivation. As of 2023, high-quality pearls are predicted to rise in price and will continue in the near future"

Is this true?

Thank you!

Monica

 

[Pearl Dreams]

Certainly akoya prices are on the rise. I imagine SSP also if the cultivation is decreased.

There is another discussion about this, with link to an article you may like to read:

In the News: Japanese Akoya Pearl Prices Have Skyrocketed 80% (2023)

Jennifer Heebner of the CPAA and AGTA wrote this very interesting article about the HIGH DEMAND for Akoya Pearls, leading to an 60-80% PRICE HIKE! I personally met with Joshua & x Nick Israeliff during the Tucson Gem Show and they explained that the high demand from China has helped increase...

www.pearl-guide.com

 

[heartofawareness]

Certainly akoya prices are on the rise. I imagine SSP also if the cultivation is decreased.

There is another discussion about this, with link to an article you may like to read:

In the News: Japanese Akoya Pearl Prices Have Skyrocketed 80% (2023)

Jennifer Heebner of the CPAA and AGTA wrote this very interesting article about the HIGH DEMAND for Akoya Pearls, leading to an 60-80% PRICE HIKE! I personally met with Joshua & x Nick Israeliff during the Tucson Gem Show and they explained that the high demand from China has helped increase...

www.pearl-guide.com

Thank you @Pearl Dreams. Wow..shocking! I better get my orders in. I'm glad I found this forum.

Monica

 

[ccc123]

It seems SSP prices have risen dramatically since this thread was started. The only listed pearl producer in the world, Atlas Pearls, just reported that they collected over $100 per loose pearl over the last 6 months via auction, up from ~$30-50 for the preceding 6 month period.

Has anyone noticed a dramatic increase in SSP prices as of late? Does anyone have any insight into the driver of dramatic price rise. Some theories include: (1) China cracking down on freshwater farming practices due to environmental concerns, and (2) change in cyclical fashion trends, particularly in China. I'm not an insider and I have scoured the internet for an answer, but there just doesn't seem to be a coherent explanation.

What I would really like to know is: (1) what is driving the current dramatic price rise, and (2) how long will this elevated price likely last for.

 

[ennui]

Will the tariffs and trade war affect pearl prices? Discuss.

 

[Shani]

What gets me is that you read on how rare good pearls are ie: only 20% of the harvest being of great quality etc and then you see these pearl wholesaler markets etc where they have tonnes and tonnes of pearls in giant sacks and this isn't even all of their stock. Thousands of sellers with massive stockpiles and yet they seem to find justification on raising the prices.

 

[Pearl Dreams]

A lot of those are freshwater pearls. It's the akoyas that are scarcer now due to oyster mortality. And those are definitely higher in price now for that reason.

 

[SteveM]

Will the tariffs and trade war affect pearl prices? Discuss.

An increase of 34% on Chinese FW exports will have to be passed along to one degree or another. Fiji sticks out at 32%, J. Hunter seems to be uniquely targeted there, as French Polynesia scrapes by with just the universal 10%. I believe PP is selling from large stocks of J. Hunter pearls already in the US, offering a strong purchase incentive. Japan at 24% is probably the most impacted, given the quantity sold and average invoice price subject to the tariff. And at 46% you can forget Vietnamese Akoya as an economical alternative.

 

[ennui]

My thought is that there are plenty of international markets for pearls, so the farmers should be okay. It's the lowly US buyers who may whine a bit.

It may be like the tariffs on cars. The tariff on a complete car is higher than the tariffs on parts.

 

[SteveM]

My thought is that there are plenty of international markets for pearls, so the fearmers should be okay. It's the lowly US buyers who may whine a bit.

It may be like the tariffs on cars. The tariff on a complete car is higher than the tariffs on parts.

Yes you would hope they have diversified markets. Looks like US was the third largest pearl import market in 2023 at $77M, pittance of course compared with the car industry. US also ranks high on the list of pearl exporters, but pearls can't be exported from here until they're imported. I think a significant shrinking of the US market would be difficult to compensate.

Official trade reactions will no doubt be forthcoming. There's a lot to digest.

 

[jshepherd]

We sent out a report to the CPAA membership today. Basically everything is going to be affected.

 

[SteveM]

We sent out a report to the CPAA membership today. Basically everything is going to be affected.

View attachment 473106View attachment 473105

An aside, any progress in removing the 'C' from CPAA?

 

[jshepherd]

There will be a big announcement on May 18th

 

[SteveM]

We sent out a report to the CPAA membership today. Basically everything is going to be affected.

View attachment 473106View attachment 473105

All the lists I've seen online show 10% for French Polynesia (and Cook Islands), not 20%.