NAYPYITAW- Over 3,900 gem and jade lots will be sold at the Gem Emporium in Nay Pyi Taw, according to the sources.

All transactions are to be dealt with through the Myanmar Kyats. Among the gem and jade lots, the highest bid of Ks 180 million worth gem lot is also included.

The gem emporium is being held at the Mani Yadana Jade Hall in Nay Pyi Taw from January 2nd to 7th.

286 gem lots and 3,695 jade lots will be sold during the event.

Gem lots will be sold via open tender on January 4th and jade lots will be put on sale through the open tender system from January 5th to 7th.

“The highest bid for a jade lot is Ks 100 million so also the highest bid for a gem lot is Ks 180 million,” said General Manager Thet Khaing from Myanmar Gems Enterprise.

The local gem merchants will have a chance to attend the Gem Emporium which will sell the gem and jade lots only in Kyats. However, they must be paid earnest money at least Ks 1 million.

Min Thu, Acting Managing Director from Myanmar Gems Enterprise said that gem and jade lots worth around Ks 40 billion would be sold out for gem merchants who produce the finished products.

“Uncut jade is scarce in Mandalay. So, we thanked the authorities for selling the gem and jade lots only in Kyats. We paid Ks 60,000 for entrance fee,” said Gem Merchant Maung Toe from Mandalay.

There are 1,634 local gem merchants being registered at the sale.