GEMSWORLD | 34 | 2019/20 THE SOURCE The gem markets For the inhabitants of Mogok, the Htar Pwe or gem market, is a huge part of daily living. It attracts buyers and speculators from the town and surrounding areas. Traders display their gemstones, offer a starting price and haggle with buyers for a deal. The asking price is normally higher than the market price so bargaining is recommended. Most buyers and sellers are Myanmar nationals since foreigners have limited access to Mogok due to the nation’s policy. When foreigners show up in the markets, they are quickly surrounded by local traders eager to maximise their stay. A large variety of gemstones are traded in the public gem markets of Mogok, including rough and polished rubies, sapphires and spinels, with prices ranging between a few US dollars and over US$2,000. The expensive stones of 3 carats and up such as unheated pigeon’s blood rubies are usually traded indoors. There are four major gemmarkets in Mogok. The Mingalar market by the lake in east Mogok is a morning market where sellers sit behind rented spaces to display their gems. Pan Chan market in east Mogok, also called the umbrella market, opens in the afternoon where buyers rent tables with umbrellas to wait for sellers to bring the goods. The other two busy markets in west Mogok – Aung Thit Lwin (morning market) and Pan Ma (afternoon market) hardly offer tables so business transactions are done while standing. These markets rely on natural daylight to trade stones. An experienced trader knows that daylight in Mogok is more flattering on the gems than in most Chinese cities, for instance, therefore a vibrant coloured ruby might appear darker when viewed elsewhere. It is better to take a colour sample for a more precise comparison. Uncertainties Since the US lifted the ban on the importation of Burmese rubies in 2016, the Myanmar government has stopped re-issuing mining concession permits, significantly disrupting gemstone production. In May 2019, all mining permits in Mogok will have expired. This uncertainty is bound to affect the livelihoods of tens of thousands of miners, lapidaries, traders and other industry stakeholders as well as their families. This could also result in major jewellers, who buy huge quantities of Mogok gems but need a year in advance to plan marketing campaigns, to possibly rely on other gem sources such as Mozambique for rubies or Sri Lanka and Madagascar for sapphires. All images by Julius Zheng Majority of gem traders in the markets are females. | 自然之美的幕后，人才真正的珍宝。市场上的大多数交易商都是女性。照片由郑嵘提供
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