Coral Pricing and Revenue Generation
Soft Coral, such as Kenya Tree Coral or Toadstool Coral, ranges from $5 to $10 per gram. Large Polyp Stony coral costs $10-$20 per gram. Prices vary by quality, rarity, sustainability, and legality. Beginner corals cost $40 or less. Exotic specimens can cost over $300. Adding live coral to aquariums is optional. Packs for expert tank owners average $180. Larger corals are more expensive due to cultivation effort.
Coral Industry and Restoration
Coral reef tourism contributes $5.2 billion to the Australian economy. Over 30 years, 50% of the world’s coral has died from pollution, overfishing, and climate change. Coral farms play a crucial role in revenue generation by selling to wholesalers, retailers, and clients. Artificial reefs can aid in ecosystem restoration, although costs are high due to scale.
Coral Jewelry and Value
Selling coral jewelry requires considering rarity, fashion, and quality for pricing. High-quality coral with vibrant colors and natural patterns commands higher values. Pieces like a 10-carat coral can exceed $250. Red coral of exceptional quality can be worth over $1000 per gram. Unique samples are scarce, making most jewelry reasonably priced.
Coral Farming and Revenue Generation
Coral farms sell to wholesalers, retailers, and individuals, with prices varying by species. Average retail prices range from $30 to $50, but some rare corals can fetch hundreds or thousands of dollars. Asexual reproduction and sales play a significant role in revenue generation. Coral reefs support various industries and contribute billions to economies annually.