End of Year Gem Sale Exceeds Expectation in Myanmar

Sales exceeded last year’s Emporium and beat expectations at mid-December sales in Myanmar's Gem Emporium event. "A total of 190 gem lots and 6,685 jade lots were exhibited, and 32 gem lots and 5,054 jade lots were sold," according to the Myanmar Times. More than 4,400 gem merchants attended, about half from China. No U.S. buyers were present. According to a report by Global New Light, sales of gems and jade amounted to 439.35 million euros.
UPDATE: There were reports about less participation in this Emporium. Among explanations are government regulation, taxation and the black market. Here is an article exploring many of the problems.

Consider a Visit to Myanmar's Jade Pagoda

Planning next year's vacation? Maybe you would like to visit Myanmar's Werawsana Jade Pagoda, 75 ft. tall and built of 11.000 tons of that country's precious stone. Located near Mandalay, it is a favorite site of pilgrims and tourists. A visit could be combined with a visit to Mandalay's jade market, said to be the world's largest such outlet. It is geared mainly to dealers, often Chinese traders who will take their finds back home and increase the price considerably. But worth the visit as you will likely see genuine jade rather than the enhanced or faked material so common to western sales venues.

Sanctions Would Have Little Effect

Gem merchants in Myanmar say that sanctions imposed by some foreign firms are unlikely to have much effect on sales. The bulk of gem sales by far involve jade sold to China where no sanctions are envisioned. From the story: "Myanmar is currently holding another jade and gems emporium in Naypyitaw that will sell 190 gem lots and 6,685 jade lots. More than 2,000 Chinese buyers, 19 Thai buyers and three buyers from Macao have come to the emporium, while only a Canadian buyer has registered to attend." here is the link.