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Witnessing the 56th Myanma Gems Emporium

Buyers were checking the quality of a jadeite boulder
Buyers busy checking a jadeite boulder with high potential at the 56th Myanma Gems Emporium. Photo by Wim Vertriest/GIA.


Since 1964, thousands of merchants have repeatedly attended the Myanma Gems Emporium to source premium gemstones produced from the legendary source of Myanmar (formerly Burma). Here the buyers compete in silent auctions arranged for each gem category. These include jadeite, pearls and coloured gemstones. The emporium is under the management of the Ministry of Natural Resources and Environmental Conservation. Very few people have had the opportunity to observe this event other than the participants, organisers and media. A team from GIA research and education was recently granted the opportunity to document the emporium for the first time in the Institute’s history. The 56th Myanma Gems Emporium was held in the country’s new capital city, Nay Pyi Taw, on 11-20 March 2019. The team spent four full days at the beginning of this 10-day event witnessing the bustling activity that few outsiders get to experience.

Competing for the Top Green at the Jadeite Auction

Many people in the trade call the Myanma Gems Emporium the “Jade Auction” since jade—specifically jadeite—is the absolute star here. Out of the total of 7,747 gem lots offered, 6,973 consisted of jadeite, the majority being pieces of rough. A very limited amount of finished jadeite was on offer as well. As the sole economically important source of jadeite, the emporium is the only official venue for buyers to source this material. It is well known that China bears a long history of jade appreciation and is the largest consumer market for jadeite. Nearly 3,000 Chinese buyers attended this year’s Emporium, together with about 1,500 local merchants, to compete for the top green.

Checking the quality of a jadeite boulder
Thousands of jadeite buyers come to the emporium each year to source their stock. Viewing and evaluating the quality of their bidding targets is their daily task at the event. Photo by Wim Vertriest/GIA.

Chinese buyers are mainly from Guangdong Province, the hub of jade manufacturing and trading. They come to the emporium in teams to share the workload. With the rocketing price of rough, they can also split the cost and the risk involved.

Jade Overview
Jadeite Production and Its Various Appearances

While it is a trading platform, the emporium also provides a panorama of the ever-changing colour, texture, transparency and pattern of jadeite. It is true that no two pieces of jade look the same. Myanmar has both primary and secondary jadeite deposits, though mining mainly happens on secondary deposits. All the lots at the emporium are from secondary deposits.

jadeite boulder
A typical jadeite boulder from an alluvial deposit. Boulders are often covered with skin, the weathered surface layer. Myanmar’s jadeite sellers are very good at showing the best appearance of jadeite rough by opening windows or show points, or slicing the boulder open. Although the two windows on this boulder show promising green colour, buyers need to study the piece carefully to determine whether the rest is also of good quality. Photo by Tao Hsu/GIA.

A jadeite boulder’s anatomy includes two major components: skin and the underlying jadeite. The appearance of both can vary considerably depending on the fluid activity during the formation, the completeness of metamorphism, the degree of weathering, the growth environment and other factors. Although boulders from the same deposit or location may show some similarities, no reliable prediction can be made on the internal quality. Most striking is the immense contrast in the large rough pieces, while the finished pieces seen on the market, especially in fine jewellery, often show quite even colour distribution and texture.

jadeite lot
Various Appearances

Even though the top green colour, often called “imperial green”, is extremely rare, different shades (tones and saturations) of green still dominate the auction, most being of low saturation. Lavender and reddish hues are much rarer. Medium- to low-quality lavender rough lots are not that uncommon, and the colour is often mixed with green areas in a single piece. Reddish and orange bodycolours are very hard to find. The authors saw some boulders with fine-textured, reddish skin, which could potentially be made into cabochons and small pendants. Top-quality colourless (sometime referred to as “ice jade”) rough is also very rare at the emporium, which might explain the high price asked for this type of material in the consumer market.

check green veins
Colours and Patterns
Quality Evaluation

The most challenging and mysterious but exciting part of jadeite rough purchasing is quality evaluation. Becoming an expert buyer usually requires decades of experience. There is no shortcut to excelling at this task, and “tuition” needs to be paid before mastering the job.

quality checking
Thousands of jadeite buyers come to the emporium each year to source their stock. Viewing and evaluating the quality of their bidding targets is their daily task at the event. Photo by Wim Vertriest/GIA.

A general principle in the jadeite business is that the more you see, the more you pay. Some people choose to buy gambling stones with no show points or windows at all. Though they might pay less for the rough, the risk involved is overwhelmingly high. In the jade trade, there is a famous saying: nine out of ten gamblers go broke. Therefore, the vast majority of jadeite rough buyers go with a stone that has some exposure to indicate its internal quality.

quality checking
Thousands of jadeite buyers come to the emporium each year to source their stock. Viewing and evaluating the quality of their bidding targets is their daily task at the event. Photo by Wim Vertriest/GIA.

Jadeite buyers at the emporium are well equipped with hand-held tools. A strong torch, a spray bottle, a plastic bangle template and an erasable marker are necessities. A dual-intensity torch allows buyers to view the rough both indoors and outdoors. The spray bottle helps to wet the surface so colour and texture can be better revealed. The bangle template is used to locate areas of the rough where bangles could be cut. Since bangles command the highest price in the trade, they are always the first thing rough buyers are looking to make. The erasable marker is used to mark any potential finished products on the rough, such as bangles, beads and pendants.

color checking
Quality Checking

The factors buyers care most about are the colour, texture and transparency of the rough. After these three value factors, they also pay attention to how much of the material can be used to make profitable jewellery. In terms of colour, even though the hue is obvious, the tricky part is that the finished product can show slightly different colour appearance. This is partially due to uneven distribution of colour and partially due to the path length of light—in other words, the distance light travels through the stone. Since most rough will be sliced into thinner slabs, the path length of the finished pieces is quite different compared to the rough. Experienced buyers tend to estimate the colour appearance of finished products more accurately than people with very limited experience.

Jade Evaluation

There is an unwritten rule in the jade trade that buyers would rather buy a green vein than a big patch of green on the surface. This is especially useful for buyers with little experience. When the green colour distributes linearly as a vein and the seller slices the boulder open along the vein, the surface is full of green colour but the depth of the colour is very hard to determine. If buyers can see the vein, it shows more potential since the vein clearly penetrates into the stone. There is still no 100% guarantee, since the vein could possibly thin out. This uncertainty is also the charm of jadeite rough purchasing and even the entire jadeite business.

green veins
If the sellers slice the boulder open along the green vein, it will probably display well but definitely sacrifice the thickness or volume of the green. Slicing perpendicular to the vein but also showing the side view of the green colour distribution, as seen in this photo, can help the buyers more accurately estimate the value of the piece. Photo by Tao Hsu/GIA.

Buyers rely heavily on their torches to determine transparency and texture. These two value factors are often considered together as “water” in the jade trade. Depending on the halo and the depth of the light, buyers get a good idea of whether the rough’s “water” is high or low. After that, the quality is evaluated. Buyers also use the ruler on one side of the torch to measure the rough and then decide how much rough is useful and how many finished pieces can be produced. Sellers usually label fractures that have apparent durability concerns. However, it is unavoidable that buyers will see some fractures hidden inside the stone. This factor needs to be considered before determining the bidding price.

Jade Show and Tell
Buying Process

Jadeite buying at the emporium is a laborious journey for every buyer. The first four days are reserved solely for viewing, while pearls and coloured stones are both viewed and auctioned at the same time. Starting on the fifth day, bidding and the revealing of results happen together, along with more viewing. From day 5 to day 10, the prices for all lots (6,973 in this case) are released gradually.

Hundreds of bidding boxes are arranged in rows on the fifth day of the event. Buyers often bid on many different lots. Sometimes dozens of lots. They need to fill in the bidding forms carefully to avoid any unnecessary financial loss caused by typos and mismatched lot numbers. Once bidding starts, they will also follow the results closely so they won’t miss their winning lots or be penalised. Photo by Wim Vertriest/GIA.

Almost all the jade lots are spread out in dozens of metal roofed sheds outside the air-conditioned main hall. There are a few extra showrooms in the main hall. In March, the average outdoor temperature here is around 40 degrees Celsius (104 degrees Fahrenheit). This makes the buying process hot and dehydrating. In these conditions, buyers need water as much as the jade!

gems emporium layout
The layout of the 56th Myanma Gems Emporium. Illustration by Russel Samson/GIA.
Most of the jade lots take up considerable space and cannot be shown in the indoor hall. The vast majority is stored in open sheds where buyers can view mainly “utility-grade” jade. Photo by Wim Vertriest/GIA.
Buying Process

The lots are presented in many different forms, including single boulders, multiple boulders, sawn slabs, small pieces ready for carving and even bangle cores. The weight of a lot can range from 40 g to over 5000 kg. Very limited amounts of finished goods are also offered as lots, including beads, bangles, teacups and bowls. Complete beds were also on offer for those with more eccentric tastes.

Different Formats of Jade Lots

Buyers need to check all lots briefly to narrow down their target group. Then they spend time studying the targeted lots in detail. This includes extensive viewing, measuring and calculating as a group to make final bidding decisions. The value factors mentioned previously are carefully evaluated one by one. Once the bidding price is determined, buyers will drop their bidding form into the corresponding bidding boxes and wait for the final price to be announced. Sometimes mistakes happen, and there are quite strict rules that the buyers must follow.

Bidding Mistakes
Exciting Auction Results and Impact

This year’s jadeite auction turned out some staggering numbers and outperformed the June 2018 emporium. For the past five years or so, the number of jade lots offered at the emporium has been declining from around 20,000 lots to around 7,000 lots this year. This shortage of supply is caused by the quick exhaustion of many deposits over the past two decades and the stricter regulations recently introduced to the mining sector. This time, nearly 80% of the jade lots fell into the low-quality category, while less than 5% were considered fine quality.

Myanmar Emporium Report Jade Price Table
A selection of jadeite auction results.

Going back 10 to 15 years, the Chinese domestic jadeite market experienced very fast growth. Jadeite jewellery prices kept going up until about 2015. During the past five years, this linear price jump has stopped. The market is relatively stable but with some ups and downs. However, different market sectors have changed in different ways. The slowdown and price dip have mainly affected the middle to high market sector, while the low to middle sector has, in fact, expanded with good sales numbers. At the same time, the low-quality and top-quality market stayed about the same.

Jade Supply

On the other side, jadeite rough prices also experienced rocketing growth during the same time period. The rough price is now fairly point. Many buyers are more cautious, but when the quality is great, big capital is still spent on the rough. This is well reflected by the results here at the emporium.

Out of the 6,948 jade lots, 5,263 were sold for 474.1 million euros ($539 million/£425.3 million). This represents a turnover rate of over 75%. Buyers also felt that the quality of jade lots was better than the previous year. The king of the all jade lots was lot number 4996, with a final price tag of 10.59 million euros (£9.5 million). Second place went to lot 5219, with a final price of 9.11 million euros (£8.17 million). There were more than a dozen jade lots that sold for over 1 million euros. With the high prices of jadeite rough, it is unlikely that finished jadeite jewellery prices will drop in the very near future.

jadeite king
The King of All Lots

The Pearl Rising Star: Burmese Pearl Auction

pearl table
Pearl lots on sale at this year’s emporium.

Burmese pearls are farmed in the waters around the islands of the Myeik (Mergui) archipelago. One state-owned farm and eleven local and foreign joint venture companies operate pearl farms, some with hatcheries, between Mali Island in northern Myeik and St Luke’s Island in southern Myeik. Pinctada maxima oysters are raised there, and when they reached adulthood, shell bead nuclei are implanted to grow bead-cultured pearls. Non-bead cultured pearls (keshi) sometimes form as a byproduct, and these are popular within the trade. The usual sizes for the bead cultured pearls range from 11 mm to 19 mm, and the colours obtained are in the white to golden range including cream, silver and other colours.

pearl farms
Map showing the locations of the twelve farms that operate in the Myeik (Mergui) archipelago.

All pearls are examined and graded by staff of the Myanmar Pearl Enterprise (MPE). The main factors evaluated are size, shape, colour, lustre and nacre quality. The highest-grade lots comprise colour-matched, round, pure golden pearls, while other lots consist of lower-quality goods that are not so carefully matched.

A significant number of pearl buyers were women, many of whom were Chinese. The other two main nationalities present were local buyers and Indians. They inspected the pearls in daylight or under daylight-equivalent desk lights and paid close attention to the matching of the pearls on all quality factors with an eye towards the finished products. However, some of the lots were intentionally of low quality and mixed sizes, and the GIA team soon learned that the buyers bid on such lots with the intention of processing them via peeling and polishing to dramatically improve their appearance.

quality checking
Most of the pearl buyers at the emporium were women working in a family business, learning the trade from their mothers. This young woman is checking the surface quality of a pearl for blemishes or irregularities. Photo by Wim Vertriest/GIA.
golden pearls
Pearl buyers pay close attention to the matching of pearls in a lot. Even though the lots are graded by colour, shape and other characteristics, there are still differences between pearls within a single lot. Subtle differences in lustre, colour and overtone can have a large impact on the price of the jewellery, so these need to be taken into account when buying the starting materials. Photo by Wim Vertriest/GIA.
lot labelling
At the emporium’s pearl sale, the pearls have been evaluated and are grouped in parcels based on their size, colour and lustre. All pearls in a given lot originate from the same company, which might operate different farms. Photo by Wim Vertriest/GIA.
baroque pearls
Not all pearls are round… Several lots comprised a wide variety of pearl shapes and colours. While round pearls are often used for the classic strands, these more irregular pearls are commonly used in other jewellery types. Photo by Wim Vertriest/GIA.
pearl lots
Three tables with rows of pre-sorted pearl lots were ready for buyers to examine. The lots could be inspected for up to fifteen minutes at a time at a table in the viewing area. Each lot was weighed before take-in and upon return to make sure all was in order. Photo by Nicholas Sturman/GIA.

Prior to the emporium’s opening ceremony, GIA’s Nicholas Sturman and Joyce Wing Yan Ho gave presentations to MPE officials and staff in the gem museum within the confines of the emporium venue. The GIA presentations, organised by Tin Chaw in conjunction with the MPE, covered the farming of cultured pearls in Myeik and other locations around the world as well as the identification and classification of pearls using GIA protocols. The GIA team in turn was treated to a presentation by an MPE representative on the pearl production process, which included very useful information on the procedures and operations used by the pearling companies in Myeik.

Colours from the Legendary Source: Burmese Coloured Stones Auction

Colored Stones

In addition to jade, Myanmar has deposits of almost every other coloured stone.

Rubies are the most coveted of coloured gemstones, and Burmese rubies are held in especially high esteem. There are three areas that produce rubies in Myanmar: Mogok, Mong Hsu and Namya (Nanyazeik). Mogok rubies are rarely treated, while Mong Hsu material requires treatment with flux to optimise its appearance. During the auction, the majority of ruby lots are untreated, but some are treated and even cut. The best rubies presented at auction were two untreated rough rubies from Namya (Nanyazeik) with a good shape, colour and fluorescence.

Sapphires from Mogok were also available, often as cut stones. Colours included blue and purple to more pastel colours and yellows.

Large volumes of peridot crystals from the Pyaung-Gaung mine in northern Mogok as well as a few lots of amber from the northern Kachin Province were offered for sale.

Most of the buyers of rough coloured stones at the emporium are Burmese people, based in Mogok and Yangon. Thai and Chinese buyers also have an interest in certain goods. Thai dealers look for untreated Mong Hsu rubies, while Chinese customers are more interested in finished products (i.e. cut stones). Stones are checked in front of wide windows with ample daylight to judge colour but are also inspected with torches and loupes to reveal internal flaws.

quality checking
Thai dealers are most interested in rubies, especially those from the Mong Hsu area. This material often requires heat treatment with flux, a skill created and perfected in Chanthaburi, Thailand. Close inspection of colour zones and inclusions is necessary to estimate the value of the stone, even before treatment, since not every stone reacts in the same way. Photo by Wim Vertriest/GIA.
quality checking
These two gem buyers from Mogok travelled to the emporium to acquire peridot crystals from the mines in their native region. They are shining a torch through the side of the crystal to evaluate its internal characteristics such as fractures or included crystals. The colour of this stone was evaluated in natural light, without torches. Photo by Wim Vertriest/GIA.
While this 7 ct sapphire was not the largest one, it was the finest shown during the 56th Myanma Gems Emporium. The stone combines a good colour intensity with high clarity. Photo by Wim Vertriest/GIA.
These four rubies are part of a larger lot put on offer. While they are a bit flat and have a slight window, their colour is still magnificent. Photo by Wim Vertriest/GIA.
An unexpected find at the auction was these two rubies from Namya (Nanyazeik) in northern Myanmar. The 7.5 ct and 4.5 ct stones have an attractive colour and strong red fluorescence under long-wave UV, shown in the photo on the right. Photos by Wim Vertriest.
This pure green peridot crystal, about 6 cm high, was part of a larger lot comprising around 35 crystals of comparable size. This piece shows the orthorhombic crystal shape of olivine/peridot crystals. The faces show the etching typical of Mogok peridot. Photo by Wim Vertriest/GIA.

In March 2019, the Burmese government implemented mining legislation that installed a new licence-issuing system. In the three years prior to that (since late 2016), no new licences had been issued, which has seriously impacted coloured stone production. This is especially the case for ruby mines, most of which have been closed for months if not years. This decrease in production in the main coloured stone mining areas was clearly visible at the auction, where the volume and quality of rubies, sapphires and other gems was significantly lower than at previous events.

Tao Hsu is director of global professional development and a technical editor of Gems & Gemology; Wim Vertriest is supervisor of field gemmology. Tin Chaw is identification services representative, and Nicholas Sturman is senior manager of global pearl services at GIA in Bangkok. Shane McClure is global director of coloured stone services. Joyce Wing Yan Ho is a senior staff gemmologist specialising in pearls at GIA in New York, and Kevin Schumacher is photo and video producer for Gems & Gemology at GIA in Carlsbad, California.