• Kobe auction in March 2026 sold 46,898 pearls at an average price of $66/piece
• Total revenue of $3.2 million
• Average Index Point per pearl sold was 22
• Average $/index point increased 13% to $2.95

Atlas Pearls Ltd (ASX: ATP) has provided an update on an auction held in Kobe, Japan on 26-27 March 2026. The company sold 46,898 pearls at an average price of $66/piece, generating total revenue of $3.2 million. The average Index Point per pearl sold was 22, down from the previous auction's average of 30. However, the average $/index point increased 13% from $2.61 in December 2025 to $2.95 in March 2026. The auction had a sell-through rate of 66%, with some product categories, particularly smaller 7-8 mm pearls, seeing lower demand as the auction coincided with the annual Akoya selling period. Atlas Pearls will retain these pearls and find appropriate customers for them. The CEO, Michael Ricci, commented that the auction results reflect the current market demand and quality challenges, with some customers reducing their spending due to slower downstream demand and elevated stock holdings. The company continues to focus on building relationships with new private sale customers to increase resilience in this sales channel. In early March 2026, Atlas Pearls sold around $1.3 million of product at the Hong Kong Jewellery Fair, which partially contributed to the relatively lower revenue at the Kobe auction. The CEO considers the March 2026 auction results as satisfactory, given the current market conditions.

Atlas Pearls continues to sell and expand its sales into wholesale, value-added, and a small, but growing, retail channel. The next major auction will be held in Kobe in June 2026.