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  1. #1

    Default Newbie questions Tahiti auction

    Hi,

    We are considering buying direct from an auction in Tahiti for our business, and we have some newbie questions relating to this. If this information is already available on this forum, then please redirect us there, and excuse our ignorance.

    GIE Poe o Tahiti Nui has an auction on July 23, 2017 which seem interesting. https://www.facebook.com/tpafp/ .

    I am really asking those who have participated in this kind of auction before.

    1) Is the bidding secret and in writing, or open and live like a traditional auction?
    2) Will there typically be bags of mixed pearls for 50.000 dollars or less, or do we need to bring 500.000 dollars. What price ranges are typical for a bag. Of course it depends on a lot of factors, but we are trying to get a gut feeling to see if this auction is only for the big guys. We are mostly interested in smaller pearls and baroque pearls.
    3) We are prepared to pay taxes on import to Australia, but is there still an export tax from Tahiti? If so how much?
    4) Is there anything else in particular we should be aware of?

    Br, Kim

  2. #2
    Pearl Journalist Senior Pearl-Guide.com Pearl Expert GemGeek's Avatar
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    Jeremy Shepherd's company, Pearl Paradise, has participated in an auction in Tahiti. Perhaps he will chime in.

    http://www.pearl-guide.com/forum/sho...tahiti+auction
    GemGeek
    The World Is My Oyster!

  3. #3
    Super Moderator Senior Pearl-Guide.com Pearl Expert jshepherd's Avatar
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    Quote Originally Posted by kimbentsen View Post

    1) Is the bidding secret and in writing, or open and live like a traditional auction?
    2) Will there typically be bags of mixed pearls for 50.000 dollars or less, or do we need to bring 500.000 dollars. What price ranges are typical for a bag. Of course it depends on a lot of factors, but we are trying to get a gut feeling to see if this auction is only for the big guys. We are mostly interested in smaller pearls and baroque pearls.
    3) We are prepared to pay taxes on import to Australia, but is there still an export tax from Tahiti? If so how much?
    4) Is there anything else in particular we should be aware of?

    Br, Kim
    Sure.

    1. It is secret and in writing. A lot may or may not have a floor price.

    2. Yes. Larger lots and mixed lots will be a better value.
    - Mixed lots are more difficult to work. You have a combination of sizes, colors and qualities. The lot has to be pretty big to do anything with it. Large lots of similar or same can be a good value but they can also be difficult to move because all the resulting pairs and strands will be similar.
    3. You may not pay any import into Australia. Check to see if unfinished, loose pearls carry duty. The export out of Tahiti is 50 cents per pearl.
    4. Just because it's an auction doesn't mean all the lots are well priced. The last auction I went to in Papeete had lots from several different producers and they had set floor prices without collaboration, or so it appeared.
    Whether or not you pay fair prices are pay way over market is going to be solely up to you. It's a dangerous way to start buying Tahitian pearls if you don't have much experience.

  4. #4
    Pearl Journalist Senior Pearl-Guide.com Pearl Expert GemGeek's Avatar
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    I would wait and purchase at the September show in Hong Kong.
    GemGeek
    The World Is My Oyster!

  5. #5
    Rare Pearl Senior Pearl-Guide.com Pearl Expert
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    Jeremy offers sound advice.... as does GemGeek .... I would definitely wait for HK as you can buy large loose bags of whatever type of Tahitian you want .... or buy the strands ... or both
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