Monday, October 7, 2024

Gemfields Reports Strong Results for Commercial-Grade Emerald Auction

Key Highlights:

Total auction revenues: USD 17.1 million

Lots sold: 40 out of 43 offered (93% sell-through rate)

Average price: USD 4.45 per carat

Cumulative auction revenue since July 2009: USD 1,006 million

Gemfields, a leading supplier of responsibly sourced colored gemstones, has announced the successful conclusion of its latest auction for commercial-grade emeralds from its Kagem mine in Zambia. The auction generated total revenues of USD 17.1 million, with 93% of the offered lots sold.

While the average price per carat of USD 4.45 was lower than some previous auctions, this is attributed to the inclusion of a significant quantity (55% by weight) of lower-quality emeralds typically sold through Gemfields’ Direct Sales channel.

Adrian Banks, Gemfields’ Managing Director of Product & Sales, expressed satisfaction with the auction results, stating that they “demonstrate that the commercial-quality emerald market remains in good shape.” He further noted that the three unsold lots consisted of atypical auction grades, including a large cluster of low-quality crystals and two lots of small-sized “Fines.”

Looking ahead, Gemfields anticipates its next auctions for higher-quality emeralds and mixed-quality rubies to be held in Bangkok in May and June 2024.

This auction marks a significant milestone for Gemfields, as it pushes the company’s total auction revenue past the USD 1 billion mark since July 2009. This achievement underscores Gemfields’ position as a leading player in the colored gemstone market and its commitment to responsible sourcing practices.

The auction process involved private viewings for customers in Jaipur, followed by a sealed-bid online auction, allowing for participation from international buyers.

Alice
Alice
Alice is a seasoned jewelry designer renowned for her exquisite creations that seamlessly blend artistry with elegance. With a passion for craftsmanship and an unwavering commitment to quality, Alice has established herself as a distinguished figure in the world of fine jewelry. Drawing inspiration from diverse cultures and artistic movements, Alice brings a unique perspective to her designs, creating pieces that transcend mere accessories to become timeless works of art. Her meticulous attention to detail and insistence on using only the finest materials ensure that each creation reflects not only her artistic vision but also a commitment to unparalleled craftsmanship. Having honed her skills through years of dedicated practice and a keen understanding of evolving trends, Alice is adept at translating her clients' desires into bespoke, one-of-a-kind pieces. Her portfolio encompasses a range of styles, from classic and timeless to avant-garde and contemporary, showcasing her versatility and ability to cater to a diverse clientele.

Related Articles

Latest Articles