Gemfields Reports $4.8 Million in Sales from Mini-Auction of Previously Unsold Higher-Quality Emeralds

The auction generated $4.8 million in revenue, reflecting an encouraging uptick in demand and pricing.

Auction Highlights:

• Total revenue: $4.8 million

• Lots sold: 10 out of 13 (77%)

• Carats sold: 45,864 out of 59,192 (77%)

• Average price per carat: $105.49

Adrian Banks, Managing Director of Product & Sales at Gemfields, noted that the auction presented a unique opportunity to assess market trends directly. He said, "This auction solely comprised unsold lots from Kagem’s November 2024 higher-quality emerald auction. The schedules remained unchanged, allowing for a direct comparison of demand and pricing. It was pleasing to see notably higher bids, with 10 of the 13 lots successfully sold. While market sentiment remains subdued, this improvement in demand and pricing is encouraging. We extend our best wishes to our auction partners ahead of the upcoming trade shows in Bangkok and Hong Kong."

The rough emeralds sold were extracted from the Kagem mine in Zambia, which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia. All proceeds from the auction will be repatriated to Kagem, with full royalties paid to the Government of Zambia based on the achieved sales prices.

With positive signs emerging in the market, Gemfields remains optimistic about the upcoming trade shows and continued recovery in the emerald sector.