The auction house is located just across Lombok International airport in Tanah Awu, Pujut sub-district, Central Lombok district.
The new facility is expected to help promote Indonesian pearls internationally and also to help educate the public about the countrys pearls, the minister noted.
In addition to pearl transactions, a number of trainings and courses on pearl cultivation and related activities will be organized in the pearl house.
Among those present in the inauguration ceremony were Deputy Governor of West Nusa Tengara Muh Amin and Central Lombok District Head Suhaili FT.
This is the only pearl auction house in Indonesia, Saut P Hutagalung, the Ministrys Fishery Product Processing and Marketing Director General, pointed out recently.
The auction house is expected to attract tourists to Lombok and promote world-quality pearls produced in the province internationally.
The construction of the two-story auction house cost Rp5 billion. The one thousand meter building has been constructed on one-hectare plot of land. It also has a food court offering a variety of Indonesian dishes.
West Nusa Tenggaras pearl cultivation areas cover 19,056 hectares, producing 1.4 tons to 1.8 tons annually.
Around 10 to 30 percent of the total production is sent to Surabaya and Jakarta, which are later exported to various countries by 38 pearl businessmen.