An uncut blue emerald valued at €1 million will be sold to the highest bidder during the 51st Myanmar Jewellery Exhibition which runs from June 24 to July 6.
The blue emerald is owned by Aung Htay, a small-scale dealer, and will be sold alongside other precious items including €300,000 uncut rubies, topaz as well as finished jewellery.
The exhibition is being held at Maniyadana Jade Hall in Nay Pyi Taw, where curators say that there are more cut and polished gems on display compared to last year.
“We expect 4,000 local and foreign merchants. In this year’s show, we are displaying cut jade stone more than raw jade to promote jade on the market,” said Htun Hla Aung, joint-secretary of the Myanmar Jewellery Federation.
On June 27, up to 271 items of precious stones and jewellery will be sold through a tender process while 165 items will be sold through a competitive bidding system at Mani Yadana Jade Hall.
As for finished jewellery, a €90,000 ruby ring and a €40,000 ruby necklace owned by Arrow Brothers Company will also be on sale.
The Myanmar Pearl Production and Dealing Enterprise will also present 204 lots of pearls owned by the government, as well as 138 lots of pearl owned by three private companies on June 24. For the next three days lots will be sold through an open tender system as well as through auction at the Myanmar Jewel Museum.
In last year’s exhibition, a collection of more than 18,000 pieces of jewellery was displayed and over 8,000 local and foreign merchants had participated.
The exhibition allows both companies and small-scale traders to present and sell precious stones and finished jewellery from Myanmar at various shops and stands in the exhibition hall.
Source: ELEVEN MYANMAR