SourcingMar 19, 2024
Fuli Gemstones Debuts ‘Aura Cut’SourcingMar 21, 2024
Grizzly Sells 4,145-Carat Emerald for Over $1M
The miner’s March auction generated $19 million.
Grizzly Mining sold 112 of the 117 lots offered at its recent emerald auction in Dubai.
Lusaka, Zambia—Grizzly Mining Ltd. announced that its latest international emerald auction garnered $19 million.
The emeralds offered this month were extracted from the company’s fully owned flagship Grizzly emerald mine in Zambia’s Lufwanyama region.
The sale offered a mix of medium- to high-grade rough emeralds in 117 lots.
Of those, 112 were sold. The five unsold lots are being reserved for the next auction, Grizzly said.
A 4,145-carat rough emerald, described by the company as having “exceptional gem quality,” sold for more than $1 million.
The March sale follows Grizzly’s previous record-breaking auction in August 2023, which garnered $48.6 million. All 106 lots offered sold.
The company said the August sale included higher-quality stones.
Related stories will be right here …
The emeralds offered this month were extracted from the company’s fully owned flagship Grizzly emerald mine in Zambia’s Lufwanyama region.
The sale offered a mix of medium- to high-grade rough emeralds in 117 lots.
Of those, 112 were sold. The five unsold lots are being reserved for the next auction, Grizzly said.
A 4,145-carat rough emerald, described by the company as having “exceptional gem quality,” sold for more than $1 million.
The March sale follows Grizzly’s previous record-breaking auction in August 2023, which garnered $48.6 million. All 106 lots offered sold.
The company said the August sale included higher-quality stones.
The recent auction took place in Dubai, United Arab Emirates, via an online platform specifically adapted for Grizzly, allowing customers to participate in a secure, confidential sealed-bid process.
A total of 76 clients from Europe, Asia and Africa attended.
The lots were made available for in-person viewings in Dubai prior to the sale.
“I am pleased to announce another strong auction from Grizzly Mining. Our spring auction was very well attended, underpinning the strong demand for high-quality Zambian emeralds,” said Abdoulaye Ndiaye, founder and chairman of Grizzly.
“I am pleased to see such strong bidding for the exceptional 4,145-carat stone and [offer] my congratulations to the winning client K. Sunil Narnoli, with whom we have worked for many years. We look forward to seeing their work on this unique stone in the coming months.”
Ndiaye added, “I would like to thank all our international partners who participated in the auction and our team on the ground in Zambia who have worked to make this happen.”
Grizzly Mining was founded in 1997. The Zambian mine produces around 60 million carats a year, with quarterly auctions in-country and internationally.
The company noted that each specific auction mix and the quality of the lots offered vary in characteristics such as size, color, and clarity due to variations in mine production and market demand.
More on Sourcing
The Latest
TrendsDec 13, 2024
Selena Gomez Said ‘Forever Begins Now’ to Marquise Diamond Engagement RingEstimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
TrendsDec 13, 2024
Piece of the Week: Martin Katz’s Tanzanite Drops These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
Recorded WebinarsDec 13, 2024
Watch: The Highs and Lows of 2024The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
Brought to you by
Advocacy and Excellence: How Jewelers of America Is Committed to Elevating Our Industry For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
AuctionsDec 12, 2024
Tom Brady’s Watches Top $4M at Sotheby’s AuctionThe highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
Weekly QuizDec 12, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsDec 12, 2024
Mark Henry Appoints New Director of SalesCarrie Forman joins the brand to guide it into the next phase of growth with major and independent retailers in the U.S. and abroad.
CollectionsDec 12, 2024
The Jared Atelier x Vera Wang Collection Emphasizes EleganceThe high jewelry collection features 14 one-of-a-kind pieces, with serpent and ribbon motifs winding their way through the collection.
Brought to you by
Protecting Your Sparkle: Why Screening Has Become Essential While no reputable jeweler would knowingly sell lab-grown stones as natural, it's a growing possibility.
CrimeDec 11, 2024
Former Tiffany & Co. Factory Supervisor Sentenced for Stealing Precious Metals A federal judge gave Benjamin Preacher 59 days in jail, plus 10 months of home confinement and two years of supervised release.
GradingDec 11, 2024
IGI Set to Go Public Next WeekIn a CNBC interview, CEO Tehmasp Printer discussed the IPO in India and what declining lab-grown diamond prices mean for the company.
AuctionsDec 11, 2024
Sotheby’s Important Watches Sale Fetches $16.6MThe offering included vintage Rolexes, timepieces worn in “Titanic,” Steve McQueen's watch, and a special Citizen pocket watch.
CollectionsDec 11, 2024
Stephanie Gottlieb Brings Natural Diamonds to StudsThe 13-piece “Stephanie Gottlieb x Studs” collection is the piercing studio’s first fine jewelry offering to feature the gemstone.
IndependentsDec 10, 2024
Sauer Opens First U.S. StoreThe Brazilian jewelry brand made a home on New York City’s Madison Avenue with exclusive pieces only available at the location.
SurveysDec 10, 2024
Jewelry Among Top Sellers on Cyber Monday, Says AdobeAn Adobe Analytics report explored the rise in mobile shopping, the popularity of Buy Now Pay Later options, and peak shopping hours.
Events & AwardsDec 10, 2024
AGTA Launches Scholarship for University of Arizona Geosciences StudentsThe inaugural Dick Greenwood Memorial Scholarship in Gems Science will cover the fall 2025 and spring 2026 semesters.
Events & AwardsDec 10, 2024
JA New York To Debut 2 New Pavilions at Spring 2025 ShowA Piazza Italia pavilion will feature Italian designers and manufacturers while “MJSA Showcase” brings over a piece of the MJSA Expo.
CollectionsDec 09, 2024
Ray Griffiths’ First Coffee Table Book Spans 5 Decades of Design“Ray Griffiths: The Works” tells the story of the master jeweler’s career, which started with an apprenticeship in Australia at age 15.
MajorsDec 09, 2024
Thomas Davis, Grant Mobley Join WJA Foundation Board Davis is the director of business development at Select Jewelry Inc., and Mobley is the jewelry and watch editor at the Natural Diamond Council.
FinancialsDec 09, 2024
Movado’s Q3 Sales Down 3% Amid ‘Challenging’ EnvironmentThe retailer has been upping its marketing spend to drive revenue growth and brand awareness.
IndependentsDec 06, 2024
After 44 Years in Business, This Wisconsin Independent Is ClosingMike Straub and John Treiber opened Treiber & Straub in 1980 with the goal of bringing Milwaukeeans the best jewelry brands.
TrendsDec 06, 2024
Pantone’s Color of the Year Is a Delicious MousseThe color for 2025, “Mocha Mousse,” embodies thoughtful indulgences and everyday pleasures.
CollectionsDec 06, 2024
Piece of the Week: Cocoerow Fine Jewelry’s ‘Kokoro’ PendantThe Yoruba word for ant, “Kokoro” embodies the strength of womanhood in ant society while highlighting responsible sourcing.
FinancialsDec 06, 2024
Roberto Coin Acquisition Gives Watches of Switzerland a Boost in H1The retailer’s jewelry sales doubled, with branded jewelry performing especially well.
FinancialsDec 05, 2024
Signet Jewelers’ Q3 Sales Slide Amid Slow Engagement Ring Sales, Tech IssuesThe jewelry retailer addressed the lab-grown diamond “disruption,” the price of gold, and its holiday weekend performance.
SurveysDec 05, 2024
Consumer Confidence Rises Again in NovemberA more positive view of the current labor market boosted the Conference Board’s index last month.
Events & AwardsDec 05, 2024
Michael S. Krzemnicki to Receive 2024 Bonanno AwardThe director of the Swiss Gemmological Institute (SSEF) will be honored for his impact on gemology and dedication to advancing the science.
Supplier BulletinDec 05, 2024
Join Us For Color's Premier Show: 2025 AGTA GemFair TucsonSponsored by 2025 AGTA GemFair Tucson
