Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
This Is Who Bought Gemfields’ 5,655-Carat Emerald
It is an Indian company known for its high-end colored gemstone jewelry.
London—After financing issues hurt its May emerald auction, Gemfields bounced back at its most recent sale, even finding a buyer for one particularly large piece of rough.
The colored gemstone mining company held an auction of higher-quality rough emeralds in Singapore from Nov. 14 to 17 that generated revenues of $28.4 million, with an average price per carat of $68.03.
The gemstone miner said “improved liquidity” among trade customers led to 74 percent of the carats on offer being sold. This compared with 56 percent at the last auction of higher quality emeralds held in Zambia in May, when Gemfields said the Nirav Modi fraud scandal made it difficult for Indian clients to get financing.
The auction was 77 percent sold by lot, up from 59 percent in May.
“The results of what was our first Singapore emerald auction in more than three years clearly reflect the emerging recovery among our trade customers after a protracted period of difficulty,” said Gemfields Managing Director of Product and Sales Adrian Banks. “The marked increases in the percentage of carats and number of lots sold, combined with the uptick in per carat price, bode well for further improvement in 2019.”
The highlight of the sale was the purchase of Inkalamu, the 5,655-carat emerald uncovered at Kagem in early October. Rajkumar and Rishabh Tongya of Dia-Color, an Indian company that specializes in high-end gemstone jewelry, purchased the rough gemstone.
Gemfields is not disclosing the purchase price but has said it will donate 10 percent of the proceeds to its conservation partners the Zambian Carnivore Programme and the Niassa Carnivore Project.
The Inkalamu emerald utilizes the Gübelin Provenance Proof nano-tagging, allowing all future stones cut from the rough to be traced not only to the mine of origin but to the gem of origin.
The Latest
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
Despite the rising prices, consumers continue to seek out the precious metal.
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.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
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.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.