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
CrimeDec 01, 2025
Fourth Man Charged in Louvre Jewelry HeistThe man, who has a criminal history, is suspected of being the fourth member of the four-man crew that carried out the heist.
AuctionsDec 01, 2025
Christie’s Presents ‘Splendor & Style’ CollectionThe single-owner collection includes one of the largest offerings of Verdura jewels ever to appear at auction, said Christie’s.
IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago JewelerMichael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
MajorsDec 01, 2025
PGI Debuts Platinum-Filled Holiday Gift GuideThe guide features all-new platinum designs for the holiday season by brands like Harwell Godfrey, Ritani, and Suna.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
CrimeNov 25, 2025
Former Arizona AG Official Charged With Trafficking Stolen JewelryVanessa Hickman, 49, allegedly sold a diamond bracelet that was mistakenly sent to her home.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
Recorded WebinarsNov 24, 2025
Watch: Top Tips for Social Media EtiquetteSocial media experts spoke about protecting brand reputation through behaving mindfully online.
WatchesNov 24, 2025
Breitling Reveals Plans for Gallet, Universal GenèveIn 2026, the three will come together as “House of Brands,” with Gallet sold in Breitling stores and Universal Genève sold separately.
CollectionsNov 24, 2025
Muse Debuts a Wicked 'Have a Heart x Cynthia Erivo' SequelThe second drop, which includes more Elphaba-inspired pieces from additional designers, will continue to benefit nonprofit Dreams of Hope.
IndependentsNov 24, 2025
J.R. Dunn Jewelers Names New PresidentSecond-generation jeweler Sean Dunn has taken on the role.
MajorsNov 21, 2025
Natural Diamond Council Names New CEOAmber Pepper’s main focus will be on digital innovation and engaging younger consumers.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
