SourcingJan 23, 2025
RapNet, AGTA Partner to Launch Gemstone Trading NetworkSourcingJan 27, 2025
Dev Shetty To Head New Auction House for Rare Colored Gems
Jemora Gemhouse’s inaugural auction, slated for March, will take place in Dubai and feature polished sapphires.
Jemora Gemhouse is the latest venture to be led by Dev Shetty, the founder and ex-CEO of sapphire and emerald miner Fura Gems.
Dubai—Colored gemstone mining veteran Dev Shetty is heading a new auction house dedicated to rare, polished colored gemstones.
Jemora Gemhouse (JGH) is designed to provide collectors, luxury brands, and trade partners with “unparalleled access” to rare, valuable, unique, and premium-colored gemstones in a curated environment, the company said.
It’s led by Shetty, along with a team of expert gemologists responsible for meticulously sourcing, valuing, and appraising gemstones, JGH said.
Each gemstone will be certified by laboratories, including American Gemological Laboratories (AGL), GRS GemResearch Swisslab, Gübelin Gem Lab, and Swiss Gemmological Institute SSEF.
The inaugural auction will feature a collection of sapphires from Kashmir, Madagascar, and Sri Lanka, in categories including padparadscha, blue, pink, and yellow.
"Our inaugural auction promises to be a milestone event, featuring once-in-a-lifetime collections that are simply irreplaceable," said Shetty.
The sale is scheduled for March 17 to 19 and set to take place through the Dubai Diamond Exchange, the only diamond bourse in the Gulf Cooperation Council—the region comprising the Middle Eastern countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—affiliated with the World Federation of Diamond Bourses.
The DDE sits under the umbrella of the Dubai Multi Commodities Centre (DMCC).
"The Dubai Diamond Exchange is the world’s largest diamond tender facility, supporting over 1,350 companies and expanding rapidly into colored gemstones,” said Ahmed Bin Sulayem, executive chairman and CEO of DMCC.
He continued, “Recent record-breaking tenders for emeralds, rubies, and sapphires are a testament to our growth as the hub of choice for the global colored gemstone market. We are delighted to launch the Jemora Gem House today and look forward to working with Dev Shetty as we continue to facilitate access and drive trade growth through the UAE for some of the world’s most remarkable, colored gemstones.”
Related stories will be right here …
Jemora Gemhouse (JGH) is designed to provide collectors, luxury brands, and trade partners with “unparalleled access” to rare, valuable, unique, and premium-colored gemstones in a curated environment, the company said.
It’s led by Shetty, along with a team of expert gemologists responsible for meticulously sourcing, valuing, and appraising gemstones, JGH said.
Each gemstone will be certified by laboratories, including American Gemological Laboratories (AGL), GRS GemResearch Swisslab, Gübelin Gem Lab, and Swiss Gemmological Institute SSEF.
The inaugural auction will feature a collection of sapphires from Kashmir, Madagascar, and Sri Lanka, in categories including padparadscha, blue, pink, and yellow.
"Our inaugural auction promises to be a milestone event, featuring once-in-a-lifetime collections that are simply irreplaceable," said Shetty.
The sale is scheduled for March 17 to 19 and set to take place through the Dubai Diamond Exchange, the only diamond bourse in the Gulf Cooperation Council—the region comprising the Middle Eastern countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—affiliated with the World Federation of Diamond Bourses.
The DDE sits under the umbrella of the Dubai Multi Commodities Centre (DMCC).
"The Dubai Diamond Exchange is the world’s largest diamond tender facility, supporting over 1,350 companies and expanding rapidly into colored gemstones,” said Ahmed Bin Sulayem, executive chairman and CEO of DMCC.
He continued, “Recent record-breaking tenders for emeralds, rubies, and sapphires are a testament to our growth as the hub of choice for the global colored gemstone market. We are delighted to launch the Jemora Gem House today and look forward to working with Dev Shetty as we continue to facilitate access and drive trade growth through the UAE for some of the world’s most remarkable, colored gemstones.”
After a seven-year stint as chief operating officer and executive director of Gemfields, Shetty founded Fura Gems, a mining company sourcing emeralds in Colombia and sapphires in Mozambique and Australia, in 2017.
He stepped down as Fura’s CEO last summer, about one year after a 55-carat ruby from the company’s ruby mine in Mozambique set a record for the most expensive colored gemstone ever sold at auction.
He went on to establish Gaston Group, a mining investment company based in the United Arab Emirates, according to his LinkedIn profile. Jemora Gemhouse is part of the group.
“I’m so excited to unveil Jemora Gemhouse, the first-of-its-kind auction house dedicated to extremely rare and exclusive polished colored gemstones. For years, the industry has needed a specialized platform to showcase premium-colored gems to the right audience, bypassing the constraints of traditional auction houses,” Shetty said.
“Jemora Gemhouse fulfills this demand by connecting sellers directly with buyers, ensuring that the finest gemstones achieve their true market value."
The company said that for future auctions, it plans to include rare and high-valued gemstones, such as ruby, emerald, alexandrite, Paraiba tourmaline, and spinel.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
GradingJun 17, 2026
SSEF Issues Warning on Refilled EmeraldsThe lab is seeing emeralds with filler added post-testing enter the market, accompanied by reports that indicate little to no treatment.
Weekly QuizJun 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJun 17, 2026
Patek Philippe’s ‘Visionary’ Leader Philippe Stern Dies at 88 The third generation of the Stern family to head Patek Philippe, he navigated the “quartz crisis” and preserved the brand’s independence.
MajorsJun 17, 2026
James Avery to Revamp In-Store Retail ExperienceThe Texas-based jeweler is gradually rolling out a new experience-forward layout in its stores.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
MajorsJun 17, 2026
Seahawks’ Super Bowl Ring Blends Meaningful Design, Technical CraftsmanshipThe Super Bowl LX champions were honored with diamond and blue sapphire rings by Jason of Beverly Hills.
Policies & IssuesJun 17, 2026
Community for Ethical Jewelry Names New Executive DirectorMarianna Smirnova previously spent a decade working with the Responsible Minerals Initiative, in addition to other relevant roles.
MajorsJun 16, 2026
5 Things to Know About the 2026 NBA Championship TrophyThe New York Knicks took home the Larry O'Brien Trophy crafted by Tiffany & Co.
TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
MajorsJun 16, 2026
Sasha Primak Hires New Design DirectorThe manufacturer has tapped Alicia Arnold, the former director of custom design at Tiny Jewel Box.
IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
