Prices of Japanese pearls soar

Pearl prices have skyrocketed since COVID-19. According to interviews with stakeholders, the number has increased by 3-5 times compared to 2019.

Following Japanese Akoya pearls, South Sea pearls have also increased in price, and in the past few years, freshwater pearls have also increased in price.

The reason for this is the lack of supply compared to the demand for pearls.

Looking at trends in the production of Akoya pearls in Japan, the production amount has decreased from 32 tons in 2003 to 13 tons in 2022, more than half in 20 years.

Pearls are sold by auction by pearl farmers, and Japanese Akoya pearls are sold once a year, from January to February every year. The winning bid price at auction in 2024 is also 1.5 times higher than in 2023.

On the other hand, the price of South Sea pearls has stabilized somewhat. At the Hong Kong Jewelry Show held in September 2024, the price of pearls was too high and buyers were hesitant.