UAE to Sell Cultured Pearls on Open Market

UAE to Sell Cultured Pearls on Open Market

Several bags of tiny misshapen pearls, or baroque in pearling parlance, which are known as keshis, are also being offered. Keshi pearls are a by-product of the cultivation process and are as close to natural pearls as you can find on the market today.

He delivered the pearls to the Dubai Multi Commodities Centre (DMCC), home of the Dubai Pearl Exchange, on Wednesday night.

The pearls were ceremoniously handed over to officials who began the laborious process of logging each one. There were between 4,000 and 5,000 pearls in total ranging in size from 7 millimetres in diameter up to 13mm.

The small consignment is expected to fetch north of Dh1 million, according to conservative estimates.

There are at least 50 buyers from all over the world already queuing up to buy the pearls, according to Franco Bosoni, the DMCC director of commodities services.

“We anticipate a lot of interest in the sale,” Mr Bosoni said. “Not only for the quality of the pearls themselves but for the historic nature of the sale. This is a first for the UAE.”

“This is the first time anyone has commercially successfully cultured pearls in the Middle East,” Mr Karani said. “This sale could be the start of something very important for the UAE.”


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