Grizzly Sells 4,145-Carat Emerald for Over $1M
The miner’s March auction generated $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.
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.
The Latest
The grading lab said the search for her successor is underway.
In this special op-ed, designer Jules Kim calls on big brands to collaborate with independent creators instead of copying their designs.
Several jewelry designers are lending a helping hand to charities in Los Angeles amid the raging wildfires.
The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
A pioneering figure in gemology, he is remembered for his spirit of generosity, curiosity, and joy.
The peak selling days leading up to Christmas did not meet the jewelry retailer’s expectations.
Schneider brings over 20 years of luxury and fashion industry experience to his role as a key member of the brand’s global leadership team.
A Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
With versions in 18-karat gold and platinum, the wearables company is blending health technology and fine jewelry.
The executive brings more than two decades of industry experience to the role.
The New York City-based retailer is bringing its curation of jewels to a pop-up shop at Love Binetti in Palm Beach, Florida.
Created by JA and DCA, the fund is collecting money for jewelry businesses damaged by the wildfires in Los Angeles County.
Adrien Brody received his first Golden Globe while wearing the “Mozi” brooch, which depicts a spill of traditional Chinese calligraphy ink.
Officers in Champlain, New York valued the jewels, if genuine, at nearly $30,000.
The “Moonlight Rhapsody” collection is overflowing with gemstones, from raw opal to morganite and spessartite.
The seminar series covers topics from market trends and colored stone terminology to working with museums and growing an Instagram profile.
The artist collaborated with industry creatives on the project, which features five fictional stories and five corresponding paintings.
Nine jewelers donated jewels for a raffle to support the Children’s Hospital Foundation at Virginia Commonwealth University.
Miss Piggy shared her thoughts on being fabulous, the importance of accessories, and how to be your own cheerleader.
“Promise by Effy” includes fashion jewelry and engagement rings.
The Texas-based jeweler is closing all three locations.
Zendaya’s ring, featuring an east-west set elongated cushion-cut diamond, is said to be from British designer Jessica McCormack.
Micro-influencers, customer reviews, and shoppable videos are going to be key to getting customers’ attention, Emmanuel Raheb writes.
Garnet is comprised of a group of minerals, giving those with a birthday in January options when it comes to their birthstone.
The annual award, created in memory of business coach William “Wag” Wagner, went to a retailer in Fairfax, Virginia.
Retailers and vendors can ask customers to make a donation by rounding up to the next dollar at checkout.
The wholesaler is partnering with Australian brand Cheal Opal on a new offering of calibrated stones.