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
Events & AwardsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”
AuctionsMar 24, 2026
White Diamonds Shine In Christie's Jewels Online SaleThe highest-grossing lot was a Tiffany & Co. ring set with a flawless, emerald-cut diamond of 10 carats.
WatchesMar 24, 2026
Christie’s Names New Senior Specialist, WatchesFormer Sotheby’s executive Tom Heap has taken on the London-based role.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CrimeMar 23, 2026
NYPD Looking for 3 Jewelry Store Robbery SuspectsThe group of women allegedly robbed two Catbird stores and one Gorjana location on the afternoon of March 9.
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsMar 23, 2026
Movado’s Q4 Sales Rise As Demand Grows From Younger Shoppers, WomenMovado CEO Efraim Grinberg noted continued strength in the fashion watch and accessible luxury segments in the U.S.
TrendsMar 23, 2026
Marco Bicego’s New Campaign Showcases ‘The Art of Craft’After celebrating 25 years in 2025, the campaign marks a new chapter for the jewelry brand with the message that “Identity Creates Value.”
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
Events & AwardsMar 23, 2026
These Watch Brands Are Heading to Couture This YearCouture and Time to Watches announced the watch brands, from big names to independents, attendees will see at the show.
FinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’sPlus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu BoutiqueThe store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
