Yes, I’d noticed it was lower grade pearls. Presumably that’s why it’s at Bali, not Kobe, and ATP is happy to only receive local currency rather than US$ etc. Proceeds will go towards paying for local operating costs. Still interested to know more about the size of the auction! I’ve speculated before that seconds might have been cumulated from past harvests, and sold now in the higher pricing environment.
ATP - General Discussion, page-184
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