Sourcing

Grizzly Sells 4,145-Carat Emerald for Over $1M

SourcingMar 21, 2024

Grizzly Sells 4,145-Carat Emerald for Over $1M

The miner’s March auction generated $19 million.

Grizzly Mining rough emeralds
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 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

Fabergé Beetlejuice Beetlejuice jewelry collection
CollectionsSep 06, 2024
The ‘Fabergé x Beetlejuice Beetlejuice’ Collection is Scary Chic

It’s showtime for these jewels, inspired by the motifs and color palette of the new Tim Burton film.

Movado Connect 2.0 watches
FinancialsSep 06, 2024
Movado Lowers Guidance as Q2 Sales Slip

CEO Efraim Grinberg pointed to a challenging consumer spending environment, particularly in the watch category.

Lizzie Mandler’s Liquid Gold Hoops
CollectionsSep 06, 2024
Piece of the Week: Lizzie Mandler’s ‘Liquid Gold’ Hoops

Inspired by a 19th century sculpture, Mandler transformed gold into liquid for these earrings.

How to Increase Instagram Followers Naturally in 2024 2.0 (1).jpg
Brought to you by
How to Increase Instagram Followers Naturally in 2024

Growing your Instagram following organically is more important than ever in today's technological environment.

Bella Hadid in Chopard Campaigns
CollectionsSep 05, 2024
Bella Hadid Is Chopard’s New Brand Ambassador

The model and entrepreneur stars in two new Chopard campaigns.

Weekly QuizSep 05, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Nordstrom men’s store New York City
MajorsSep 05, 2024
Nordstrom Family Offers to Buy Namesake Retailer for $3.8B

Members of the founding family partnered with Mexican retail company El Puerto de Liverpool to possibly take Nordstrom private.

Tiffany & Co. Elsa Peretti Bone cuff
MajorsSep 05, 2024
Tiffany & Co. Celebrates Elsa Peretti’s Bone Cuff

The iconic design has joined a lineup of notable pieces featured in the jeweler’s “With Love, Since 1837” campaign.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: Natural Diamonds: A Great (but Often Untold) Geology Story

Supplier Spotlight Sponsored by GIA.

New Cadar CEO Ralph Simons
MajorsSep 05, 2024
Former Chopard, Frederique Constant Executive Tapped to Head Cadar

Ralph Simons is now CEO of the jewelry brand started by fashion designer Michal Kadar and her husband, Avraham Kadar, in 2015.

National Jeweler columnists Duvall O’Steen and Jen Cullen Williams
ColumnistsSep 04, 2024
Creative Connecting: Why ‘Experience Content’ Matters

Jen Cullen Williams and Duvall O’Steen say it’s all about giving your social media feeds a human touch.

 Models Taylor Hill and Soo Joo Park wearing Messika jewelry
TrendsSep 04, 2024
Taylor Hill, Soo Joo Park Star in New Messika Campaign

The models and friends of founder and artistic designer Valérie Messika showcase the brand’s jewelry in the “Back to Icons” campaign.

Bloomingdale’s From Italy, With Love campaign
MajorsSep 04, 2024
Bloomingdale’s to Highlight Italian Jewelry in New Campaign

“From Italy, With Love” will showcase Roberto Coin, Marco Bicego, and other Italian brands.

Zales tennis necklace over Prince tennis racket
CollectionsSep 03, 2024
Zales, Prince Debut US Open-Inspired Collection

The jewelry retailer will also have a diamond-set tennis racket on display at the tournament.

Ylang 23 Flagship
IndependentsSep 03, 2024
Ylang 23 Relocates, Expands Dallas Flagship

The retailer has moved into a 3,200-square-foot space at The Shops of Highland Park.

Suzanne Kalan
TrendsSep 03, 2024
Amanda’s Style File: Sapphires for September

The month’s birthstone is vibrant in every color.

Breitling watches
WatchesAug 30, 2024
Breitling Marks 140 Years With Special Editions of 3 Classic Watches

The special editions of the Premier, Navitimer, and Chronomat are equipped with a new perpetual calendar movement from the brand.

K. Brunini Jewel’s Butterfly Ring
CollectionsAug 30, 2024
Piece of the Week: K. Brunini Jewels’ Butterfly Ring

Fly away with designer Katey Brunini’s butterfly ring, as its spring-loaded wings flutter above your fingers.

Brilliant Earth showroom Roosevelt Field mall
MajorsAug 29, 2024
Brilliant Earth Promotes Two Executives to C-Suite Roles

The jewelry retailer has a new chief brand officer and chief operations officer.

JA Multifaceted Learning Workshop
MajorsAug 29, 2024
JA Takes Its Learning Workshops to Washington D.C., New York

Its next event will take place in D.C. on Sept. 17 and in New York City on Oct. 29.

Woman shopping
SurveysAug 28, 2024
Consumer Confidence Rises in August Despite Labor Market Worries

Inflation remained a top concern among survey-takers who included write-in responses.

A person wearing the Ultrahuman Ring Air smart ring while holding a cell phone
TechnologyAug 28, 2024
Verizon Throws Its Hat in the Ring on Smart Rings

The wireless carrier is now stocking the Ultrahuman Ring Air in select U.S. stores.

Rings and a necklace from Pamela Love Jardin collection
CollectionsAug 28, 2024
Pamela Love’s ‘Jardin’ Collection Is Filled With Lush Green Emeralds

In a collaboration with Muzo, Pamela Love hand-selected each Colombian emerald for eight one-of-a-kind pieces.

Stuller headquarters
MajorsAug 28, 2024
Stuller Named ‘Great Place to Work’

The certification is based on employee responses about their experience working at a company.

Stock image of loose polished diamonds
Policies & IssuesAug 27, 2024
US to Allow Import of ‘Legacy’ Diamonds From Russia

OFAC has issued two licenses addressing the issue, one for diamond-set jewelry and one for loose diamonds.

Man at International Gemological Institute microscope
GradingAug 27, 2024
IGI Files for IPO in India

The gemological lab is looking to raise up to $477 million.

Earrings by Olga Shatrova
Events & AwardsAug 27, 2024
Here Are the Winners of the 2024 CASE Awards

The annual jewelry design competition celebrates creativity, artistry, style, and excellence.

David Yurman Columbus Ohio store
MajorsAug 27, 2024
David Yurman Opens Store in Columbus, Ohio

The boutique is in Easton Town Center’s newly renovated fashion district.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy