Supplier Spotlight Sponsored by GIA
Gemfields’ May Emerald Auction Brings in $14M
Though the sale set a new record for per-carat prices for lower quality stones, it was only 76 percent sold by weight and 79 percent sold by value.
London--Gemfields’ latest auction, which featured mostly lower quality rough emeralds from the Kagem mine in Zambia, totaled $14.3 million.
The sale, which was held from May 17 to 20 in Jaipur, India and included no beryl, set a record for per-carat prices for lower quality auctions at $5.15 per carat.
Approximately 3.67 million carats of lower quality emerald were put up for offer, but the auction was only 76 percent sold by weight and 79 percent sold by value.
Gemfields said that there were a few lots in which there was a “slightly higher degree of uncertainty with respect to final recovery from rough to finished goods.” As such, minimum reserve prices weren’t met and the lots were held back.
The company added that it “believes that these goods offer considerable opportunity to further build demand in other new areas” and it is “confident in the quality and longer-term value of these lots,” which is supported by evidence of the U.S. market continuing to come back on stream.
As a result of the May Jaipur auction, the Kagem mine has exceeded $100 million in revenue for the current financial year.
Gemfields has held 22 auctions featuring material sourced at Kagem since July 2009, generating a total of $426 million.
The mine is 75 percent owned by Gemfields and 25 percent owned by the government of the Republic of Zambia.
The company’s next auction is expected to take place next month in Singapore, comprised predominately of mixed quality rough ruby from the Montepuez mine in Mozambique.
The Latest
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.