Pearl Hi everyone who gets involved with pearl business. Have you known the current circumstances of pearl market in U.S.A.?

[Bigwellpearls]

Bigwellpearls
Hi everyone who gets involved with pearl business.

Have you known the current circumstances of pearl market in U.S.A.?
Inflation in Western nations impacts sales volume of cultured pearls!

However, pearl business is very hot in Mainland China.
Young Chinese people have fallen in love with Pearls.The Single or the married choose pearl as first choice adornment.

 

[CortezPearls]

Hello @Bigwellpearls
I am happy to hear pearls are doing GREAT in China!
But sadly this has caused prices to INCREASE, due to this higher demand.

 

[Bigwellpearls]

Hello @Bigwellpearls
I am happy to hear pearls are doing GREAT in China!
But sadly this has caused prices to INCREASE, due to this higher demand.

Given shortage of supplying chainof pearl jewellery in China,prices of all types of cultured pearls are crazily rising.
This market momentum of pearls provides well-known pearl brand to open chain store in key Chinese cities.Mikimoto,Tiffany,Bulgari etc are considering moving their flagship headquarters to Shanghai or Shenzhen？

 

[jshepherd]

The market in the US is strong. Pearls are very popular right now and retail sales are strong. The issue facing the US industry is supply.

During the pandemic, grafting dropped dramatically. Most grafters in French Polynesia are from China and none of them could travel back to FP for two years. This situation replayed itself around the world.

The Japanese akoya industry was hit with shell die-offs two years in a row, so we already knew production would be an issue and prices have been rising all year.

Over the past year, pearls have become a must-have accessory in China and demand has spiked. At the show, prices were increased 5-10x and it didn't matter. Everything was selling. I saw 9-11 multicolor Tahitian strands (beautiful strands) offered wholesale at $49,000 per strand. The 10-12 mm strands from the same dealer were $82,000 per strand - wholesale.

I'm very grateful for our relationships. We met with each of our primary suppliers and they assured us our pearl needs were taken care of. We've been receiving all our pearls on schedule, even though they could sell them for cash at a premium. We have nearly everything we planned to source. We're short on akoya and some white South Sea, but otherwise we are prepared for the holiday season.

Jennifer Heebner wrote an article on the Hong Kong frenzy -
Pearl Prices are Heating Up

 

[Bigwellpearls]

Dear Mr Jeremy Shepherd,

Thank you so much for your positive interactive communications!
I appreciate your frank and straightforward personality,especially your generosity and integrity!
China began to break away from lockdown of COVID-19 on December 20th,2022.
We had been enduring tough life caged at home and isolated by pandemics from January 2020 to December 2022.

Given the price hike of Akoya oysters for grafting, my partner Mr Tiger Fan has returned to invest in cultivating Akoya pearls on Bigwell Bay Farm and Jiawei, next to the largest Coral Reef Preservation Area in China.
Prices of young Akoya oysters in Xuwen 徐闻and Leizhou, 雷州 Beihai,北海 Guangxi has been rising from $0.10 to $0.15 per piece.
Akoya oysters tendons and meat are more marketable at higher price.
Pearl jewellery is more popular than traditional precious gems and metals in China. I think younger generation of ladies and men who have high income change their jewellery consumption habits without following traditions! They have independent judgment on adornments!
Perhaps, Queen Elizabeth II of the United Kingdom of Great Britain who enjoyed wearing pearl jewellery set a good example for them.

Jeremy, welcome to Beihai, the very beautiful,environmentally friendly seatport. we have a farm on Weizhou Island where millions of Akoya oysters are growing now.

Look forward to seeing you all again!
Best Regards,
Vigor He
Bigwell Cultured Pearls
Minsheng Import & Export
旻晟进出口有限公司
广西北海市海城区高德街道开江村130号