Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Gemfields to Launch Global Marketing Campaign for Rubies
The campaign will focus specifically on Mozambican rubies and follows the company’s highest-grossing ruby auction yet.
London--Gemfields is scheduled to unveil a new global marketing campaign this week designed to ignite demand for its rubies mined in Mozambique.
The campaign, which was previewed for buyers at its recent rough ruby auction in Singapore, is slated to launch Wednesday in London, the city where the colored gemstone miner is headquartered.
The start of the campaign follows Gemfields’ highest-grossing ruby auction yet, which was a mix of high- and commercial-grade material that was both treated and untreated. (All treated lots, Gemfields said, were disclosed and involved industry-accepted techniques.)
The company reported revenues of $44.3 million, which topped its previous record of $43.3 million set at its December 2014 sale in Singapore.
Gemfields has held six auctions of rough rubies since it began selling the stones two years ago, with those sales ranging in revenue from $15.9 million to this auction’s $44 million total.
The auction’s average realized price was $29.21 per carat. A total of 44 companies placed bids and it was about 95 percent sold by lot, with 71 of the 75 lots finding buyers.
Because the auction was a mix of qualities and sizes, Gemfields said it cannot directly compare this auction’s average per-carat price with those achieved at other auctions, though it noted that “on a quality-for-quality basis, however, the per-carat price achieved were indicative of improved overall global demand when compared with previous auctions.”
Gemfields ruby auction took place June 13 to 19. It was the last ruby auction planned for this fiscal year.
The material sold at the auction was extracted by Montepuez Ruby Mining Limitada, which is 75 percent owned by Gemfields and 25 percent by local partner Mwiriti Limitada, from the Montepuez ruby deposit in Mozambique.
In addition to rubies in Mozambique, Gemfields mines emeralds and amethysts, both in Zambia.
The Latest
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Despite the rising prices, consumers continue to seek out the precious metal.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.