Gems Emporium to sell over 7,000 lots of jewels, pearls and jade

Nay Yaing and Zeya Tun

The 55th Myanmar Gems Emporium will put up for sale 7,491 lots of precious stones including 15 million Euros worth of jade.

Pearl lots are a new addition starting from this year’s emporium, the ongoing event is due to sell 360 lots of pearls with the floor price of 500 euro and above per lot under open tender system from June 20 to 21.

Moreover, 336 lots of jewels will go on sale with the price of 500 euro and above on June 23. Meanwhile, 6,795 lots of jade will be sold with the price of 1,000 euro and above or 4,000 euro and above under open tender system.

"The number of merchants visiting the emporium has increased because we have made a few changes. Our country produces ruby, sapphire and jade. So we have to sell them with good prices," said Than Zaw Oo, vice chairman of the management committee for organising the event.

Despite an increase in the number of foreign visitors, that of local merchants has decreased this year.

"Among foreign merchants are those from Canada and the United States this year. They have come here enthusiastically. There are about 20 Thai merchants. Out of the 3,000 foreign merchants, most are from China, Hong Kong and Taiwan," Than Zaw Oo added.

To attend the 55th Myanmar Gems Emporium being held in Nay Pyi Taw, 3,102 merchants from 2,656 Chinese companies, 24 merchants from 21 Thai companies, six merchants from three companies each from Canada and the US and 1,203 merchants from 510 local companies have enlisted.