Paspaley holds first pearl auction in Dubai
Dubai, January 25, 2011
Paspaley, the leading South Sea pearl company, recently conducted its first ever auction in the Middle East during the Dubai Pearl Auction event at Jumeirah Lake Towers in Dubai.
The auction, organised by the Dubai Multi-Commodities Centre, marked the 75th anniversary of Paspaley’s founding.
The auction was conducted over a hectic two-day course with several bidders sitting from morning to noon studying pearls of their interest.
Paspaley pearls showcased at the event included its South Sea pearl strands, loose pearls and rare one-off pearls. Hailed as the most beautiful and coveted pearls in the world, Paspaley pearls are carefully nurtured under strictly monitored conditions at its famous pearl farms in Australia.
“This is our first major auction in the Middle East and we are overwhelmed with the response so far. Usually, we conduct such auctions at least four to five times on yearly basis across the globe, this year Dubai was our very first stop,” said James Paspaley, executive director Paspaley Pearls Group.
“There are many reasons behind this decision: Firstly the country has a rich pearling history and Dubai being at the cross roads, it provides easy access to both European and Asian traders alike. The government too imposes minimal restrictions on the import and export of pearls making it an attractive destination for people associated with this industry.”
“The minimum time taken for a pearl to form is two years, throughout which the shell is under strict scrutiny and all procedures and processes are carefully monitored in order to produce the best pearl. Pearling is a high-risk industry so quality control is very essential,” he added.
Paspaley is not only a retail brand but is also a wholesaler of pearls. Top quality and consistency of production makes Paspaley the producer of South Sea pearls of the highest volume in the world. The brand has around 20 farms stretching between North East Darwin and Western Australia.
“We have managed to stay ahead of the competition due to the fact that we have been in the industry of natural pearling from 1930s and have given a lot of importance to the quality of our production and invested in all aspects of the pearling industry,” Paspaley concluded. – TradeArabia News Service