The Dubai Pearl Exchange (DPE), a subsidiary of Dubai Multi Commodities Centre (DMCC), hosted two major international pearl trade auctions for a total wholesale value of over $13.5 million.

The first auction, which took place recently, featured white South Sea pearls produced by Paspaley Pearling Co, in association with Cogent Trading.

The second auction featured a selection of Tahitian and golden South Sea pearls from Robert Wan and Jewelmer respectively.

The auctions attracted more than a 100 pearl traders from over 20 different countries, including representatives from Europe, the USA, the Middle East and Asia.

“The success of these two auctions is a testament to the Dubai Pearl Exchange’s continuous achievement in positioning Dubai as a global pearl trading hub and further highlights the region’s deeply-rooted passion for pearls,” said Ahmed Bin Sulayem, executive chairman of DMCC.-TradeArabia News Service