Auction Results: Commercial-Quality Emeralds
Gemfields announces the results of an auction comprised of commercial-quality rough emeralds held during the period 11 – 29 April 2025.
Highlights: April 2025 Commercial-Quality Emerald Auction
- Total auction revenues of USD 16.4 million
- 36 lots were offered for sale, of which 32 were sold (89%)
- Average price of USD 6.87 per carat
- The 51 auctions of Kagem gemstones held since July 2009 have generated USD 1,090 million in total revenues
Auction Context
The specific auction mix and the quality of the lots offered at each auction vary in characteristics such as size, colour and clarity on account of variations in mined production and market demand. Therefore, the results of each auction are not always directly comparable.
Commentary from Management
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented:
“Today’s result marks a notable improvement on the disappointing commercial-quality auction held in September 2024. An increased number of bids and stronger prices across a broad quality-range point to improved sentiment and demand since our experience in Q3 2024. The overall USD per carat realisation has been positively skewed by the withdrawal of a schedule comprising very low-quality material, weighing 112,000 grams and representing 18.5% of the total weight offering. We extend our appreciation to the Kagem team and to the Government of the Republic of Zambia, Kagem’s 25% shareholder.”
Auction Format
The auction lots were made available for private, in-person viewings by customers in Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed bid process.
Source and Repatriation of Emeralds
The rough emeralds sold were extracted by Kagem (which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction.
Auction History Reference
The results of the five most recent commercial-quality Kagem auctions are summarised in the table below (and earlier results are available at www.gemfieldsgroup.com).
About Gemfields
Gemfields is a world-leading responsible miner and marketer of coloured gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world’s single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world). In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting licences in Zambia, Mozambique, Ethiopia and Madagascar.
Fabergé and Branding Strategy
Gemfields’ outright ownership of Fabergé – an iconic and prestigious brand of exceptional heritage – enables Gemfields to optimise positioning, perception and consumer awareness of coloured gemstones through Fabergé designs, advancing the wider group’s “mine and market” vision.
Auction Innovation
Gemfields has developed a proprietary grading system and a pioneering auction platform to provide a consistent supply of coloured gemstones to downstream markets, a key component of Gemfields’ business model that has played an important role in the growth of the global coloured gemstone sector.
About SVAR Media Network:
SVAR Media Network, India’s Best Magazine & Media in Jewellery, stands as the Most Followed Jewellery Magazine & Media House in India. Recognized as Asia’s one of the Best Media in Jewellery & one of the World’s Best Jewellery Media, SVAR Media Network sets Unparalleled Standards in the Gems & Jewellery industry. Proudly holding the prestigious ISO 9001:2015 Certification, SVAR Media is the First Media Brand in the Gems & Jewellery industry to achieve this milestone, showcasing its commitment to operational excellence.
Pioneering innovations include the launch of the World’s First AI Anchor in Fashion, Gems & Jewellery with SVARA AI, India’s One of the First Gems & Jewellery Podcast, Asia’s First Meta Verified Media, the World’s Second, India’s 1st Meta Verified Media in the industry. SVAR Media Network is India’s No 1 Digital Media & continues to be the Leading Jewellery Magazine & a Global Leader in Jewellery Media
SVAR Media Network offers a diverse range of services, including: Monthly Magazines, Digital Newsletters, Al-Driven News Bulletins, Social Media Promotions, Website Blogs and Articles, WhatsApp Updates, Podcasts & more…
