Gemfields has announced the results of its October 2026 mixed-quality rough ruby auction, which generated US$52.0 million in total revenue. Held from 5 to 16 October 2026, the auction saw 90 of the 99 lots offered sold, with 92,153 carats sold at an average sales price of US$564.54 per carat.
Quick Summary
- Gemfields generated US$52.0 million from its October 2026 mixed-quality rough ruby auction.
- The auction took place from 5 to 16 October 2026.
- 90 of 99 lots offered were sold, representing 90.9% of lots.
- A total of 92,153 carats were sold from 102,099 carats offered.
- The average sales price reached US$564.54 per carat.
- The rubies were extracted in Mozambique by Montepuez Ruby Mining Limitada, which is 75% owned by Gemfields and 25% by Mwiriti Limitada.
- Gemfields’ next Trade Select auction was planned for December 2026.
Gemfields Announces October 2026 Mixed-Quality Ruby Auction Results
Gemfields announces the results of an auction comprised of mixed-quality rough ruby held during the period 5 – 16 October 2026.
Key Highlights of the October 2026 Ruby Auction
Highlights – Mixed-Quality Ruby Auction – October 2026
- Total auction revenues of USD 52.0 million.
- 90 of the 99 lots offered for sale were sold (90.9%).
- 102,099 carats were offered for sale with 92,153 carats sold (90%).
- Average sales price of USD 564.54 per carat.
Adrian Banks Comments on Ruby Auction Performance
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented:
“The results achieved at this auction reflect robust demand across the range of sizes and qualities offered, with particularly strong prices for larger, fine-quality rubies. This underscores the premium customers place on these exceptionally rare and precious rubies.
At slightly over 20 kilograms, this Mixed-Quality auction was smaller than those held in previous years and comprised predominantly higher-quality rubies. The lower volume reflects the year’s operational challenges and the ‘Trade Select’ auction strategy introduced in June, under which selected grades and categories are now offered separately. This change in auction strategy gives customers a more focused offering while enabling MRM to align the timing and composition of its auctions more closely with available production and market demand.
We greatly value our customers’ continued participation and constructive feedback as the auction system evolves. We thank the MRM team for the considerable effort that contributed to this successful outcome and acknowledge the valued support of our partner, Mwiriti.
We look forward to building on this outcome at the next Trade Select auction, planned for December.”
Mozambique Ruby Production and Auction Proceeds
The gemstones were extracted in Mozambique by Montepuez Ruby Mining Limitada (“MRM”) which is 75% owned by Gemfields and 25% by Mwiriti Limitada. The proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the Republic of Mozambique being paid on the full sales prices achieved at the auction.
Auction Viewing and Online Bidding Process
The auction lots were made available in Bangkok for private, in-person viewings by customers. 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.
Comparison with Recent Mixed-Quality Ruby Auctions
The results of the five most recent Mixed-Quality MRM ruby auctions are summarised in the table below (and earlier results are available at www.gemfieldsgroup.com):
| Auction Metric | Jun 2024 | Dec 2024 | Jun 2025 | Feb 2026 | Oct 2026 |
|---|---|---|---|---|---|
| Dates | 3–18 Jun 2024 | 25 Nov–11 Dec 2024 | 2–13 Jun 2025 | 9–20 Feb 2026 | 5–16 Oct 2026 |
| Location | Bangkok / Online | Bangkok / Online | Bangkok / Online | Bangkok / Online | Bangkok / Online |
| Carats offered | 217,044 | 167,865 | 99,830 | 214,509 | 102,099 |
| Carats sold | 216,600 | 143,613 | 68,705 | 189,620 | 92,153 |
| Companies placing bids | 52 | 46 | 47 | 46 | 46 |
| Lots offered | 97 | 102 | 90 | 135 | 99 |
| Lots sold | 94 | 97 | 78 | 121 | 90 |
| Percentage of lots sold | 97% | 95% | 87% | 90% | 91% |
| Percentage of lots sold by weight | 99.8% | 86% | 69% | 88% | 90% |
| Total sales realised at auction | USD 68.7 million | USD 46.2 million | USD 31.7 million | USD 53.0 million | USD 52.0 million |
| Average per carat sales value | USD 316.95/carat | USD 321.94/carat | USD 461.48/carat | USD 279.39/carat | USD 564.54/carat |
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.
About Gemfields Group Limited
Gemfields is a world-leading miner of coloured gemstones, dual-listed on the Johannesburg and London AIM stock exchanges.
Gemfields is the operator and 75% owner of both Kagem Mining in Zambia (a world-leading emerald mine) and Montepuez Ruby Mining in Mozambique (situated on one of the most significant recently discovered ruby deposits in the world). In addition, Gemfields holds controlling interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique and Madagascar.
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.
FAQs
How much revenue did Gemfields generate from its October 2026 ruby auction?
Gemfields generated total auction revenue of US$52.0 million.
When was the October 2026 mixed-quality ruby auction held?
The auction was held from 5 to 16 October 2026.
How many ruby lots were sold at the auction?
Gemfields sold 90 of the 99 lots offered for sale, representing 90.9%.
How many carats were sold?
A total of 92,153 carats were sold from 102,099 carats offered.
What was the average sales price per carat?
The average sales price was US$564.54 per carat.
Where were the rubies mined?
The rubies were extracted in Mozambique by Montepuez Ruby Mining Limitada (MRM).
Who owns Montepuez Ruby Mining Limitada?
MRM is 75% owned by Gemfields and 25% by Mwiriti Limitada.
When is the next Gemfields Trade Select auction planned?
The next Trade Select auction was planned for December 2026.
Source: SVAR Media Network
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