This article first appeared in the Pearl Report 2023-2024.

The beloved conch pearl has been capturing hearts in the jewellery and gemstone world for years, and over the past decade, appreciation for the natural pink gem has only grown exponentially, according to Bertrand Ternat, owner of conch pearl specialist Ocean Flame.

Conch pearls, coveted for their exceptional colour and flame-like structure, started out as a collector’s item but have since become an essential element of fine jewellery collections.

“Conch pearls enjoy a broader circulation around the world as a result of jewellers regularly using conch pearls in their masterpiece collections and auction houses selling unique conch pearl jewellery,” revealed Ternat.

Jewellers also saw the need to develop different price-point collections as end-consumer demand continues to grow. In fact, conch pearls are among the highest-rotating goods in company inventories, he added.

Asia is currently the largest market for conch pearls, followed by North America and Europe, which both saw demand double in the last five years. Meanwhile, the Middle East is deemed the fastest-growing market now.

Amid steadily rising demand is the limited supply of conch pearls. The oval-shaped gem is naturally formed by fibrous crystals inside a rare sea snail called conch. It is non-nacreous, meaning it is not made of nacre or mother-of-pearl. Only one out of 10,000 to 15,000 shells produce a conch pearl and only 10 per cent of these are of gem quality.

Prices are relatively stable, considering how rare conch pearls are. By comparison, rough diamond output reached an estimated 117.5 million carats in 2022 while only about 22,000 carats of conch pearls were produced during the same year.

“We plan to hike prices by about 15 to 20 per cent in the next two to three years to reflect the pearl’s one-of-a-kind nature,” noted Ternat. “It is difficult to predict at which level or when conchs will mature, but what is certain is that the gap between demand and supply is progressively widening.”

Rosy future

Ocean Flame continues to develop its conch pearl expertise through innovation and partnerships with local communities and fishermen. Most recently, the company has extended its selection of natural pearls to include the Pinctada and Pteria species, which are known for producing gem-quality pearls.

Ternat is filled with optimism when it comes to the future of conch pearls. He said the pink pearl will most likely follow the growth trajectory experienced by other emerging gemstones in the industry.

There are three aspects that are worth mentioning, according to Ternat: Consumer education; broadening reach of pearls in Asian markets and other countries; and the conch pearl’s unparalleled exceptionality.

Customers have become more knowledgeable and accepting of conch pearls, and this has bolstered unprecedented demand for the gem. Keen interest mostly come from Asian buyers, but conch pearls are also gaining popularity in other markets. And what attracts them the most about conch pearls is their rarity.

“We see a bright future for natural pearls in general, conch pearls particularly. Prices are bound to keep rising as conch pearls remain undervalued for the time being,” noted Ternat. “Conch pearls exhibit such a bright and feminine charm that immediately lights up one’s mood. They are happy, beautiful gems.”