Bahrain gears up for first-ever natural pearl auction
MANAMA, June 18, 2023
The Bahrain Institute for Pearls and Gemstones (Danat) has announced that the kingdom will be hosting the first-ever international auction of natural pearls on June 20.
The auction, initiated by the Rapaport International Group - an international network of companies providing services that support the development of ethical, transparent and efficient diamond and jewellery markets - in the US early this month, has already traversed various cities within and outside the US.
Established in 1976, Rapaport has more than 20,000 clients in over 121 countries. Its group activities include Rapaport Information Services that provide the group's benchmark Diamond Price List.
Rapaport will oversee the management of the auctions in collaboration with a range of specialized companies. It will exclusively involve the participation of registered companies, with individual participation not being available.
When this historic auction unfolds this Tuesday at Danat's headquarters within the prestigious Bahrain World Trade Centre in Manama, it will open a 'world of natural pearls' before the global audience.
Danat has been instrumental in collecting, grading and certifying the pearls and only those natural pearls that are certified as natural by the Bahraini institute will be offered for sale, said its top official.
"We eagerly anticipate collaborating with Rapaport International Group to foster the growth of the natural pearl market. This endeavour aligns with the fourth objective of the national plan aimed at reviving the pearl sector in Bahrain,” remarked its CEO Noora Jamsheer.
"This initiative signifies the historical legacy of natural pearls, which served as the economic foundation of the Arabian Gulf region. For thousands of years, Bahrain held the position as the epicenter of this trade," stated Jamsheer.
"Bahraini pearls have consistently captivated international jewellery houses, drawing countless traders from the West who sought to acquire these precious gems," she added.
According to Jamsheer, natural pearls are one of the rarest gifts of nature - so rare that until now no one has been able to offer them for sale on a regular basis.
"Bahrain has produced natural pearls for centuries as it is blessed with sea-beds fed by fresh water, an ideal setting for natural pearl growth," she added.-TradeArabia News Service
