• Kobe auction in December 2024 realised sales of 83,184 pearls at an average price of $72.50/piece
• Total revenue of $6 million
• Pricing achieved in line with previous auction

Atlas Pearls Ltd (ASX: ATP) has provided an update on a recent auction held in Kobe, Japan. The company held an auction in Kobe on 10th and 11th of December 2024, presenting approximately 89,000 pearls and selling approximately 83,000 pearls at an average price of $72.50/piece. This pricing was in line with the last auction in October 2024 and continues the trend of successful auction results for 2024. The company withheld approximately 6,000 pearls from this Kobe December auction, which are expected to realise better value through other sales channels, including private sales of loose pearls, wholesale and value-add products, as well as other channels that Atlas Pearls continues to develop. Atlas Pearls remains committed to maximising the value of each pearl produced. The CEO, Michael Ricci, stated that the auction result was pleasing as it reflects the continued market pricing stability seen since the start of the calendar year. There was good attendance and activity at the auction, and demand continues to be stronger in the categories where Atlas Pearls has most of its production volume. The company continues to build its customer base, geographic spread, and stronger relationships with customers across all sales channels. Atlas Pearls is also celebrating its 30th Anniversary and has been carrying out small capital works presents for its local villages and stakeholders, which has been well received.

Atlas Pearls will continue to focus on growing revenue from its multiple sales channels outside of the auction system, which will also increase its margins overall. The next major auction will be held in Kobe in April 2025, with a low-grade auction in Sanur, Bali in February 2025. Atlas Pearls will continue to sell into wholesale and value-add channels.