Burma's 20th Gems and Jade Sales this week in Rangoon has attracted more than a thousand merchants.
An official news outlet New Light of Myanmar reports that the auction for 286 lots of gems and 986 lots of jade will take place today.
The French news agency reports the total value of the goods at about 36 million dollars. They have been on display since Monday.
Military-ruled Burma is one of the poorest and most isolated countries in Asia.
However, it has vast natural resources, including gems, minerals and highly prized teak wood, that often disappear into the black market.
The military government holds gem auctions to try to curb smuggling and gain foreign currency.
Information for this report is provided by AFP.