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
MajorsMar 07, 2025
Jane Fonda, Mariska Hargitay Star in Pomellato’s IWD CampaignThe annual star-studded campaign for International Women’s Day encourages collective action against domestic violence.
CollectionsMar 07, 2025
Piece of the Week: Yeprem’s ‘Golden Strada’ NecklaceThe statement piece is seen in Yeprem’s new “You Play the Game” campaign, created for International Women’s Day.
MajorsMar 07, 2025
Borsheims Names New Senior Security and Facilities ManagerLongtime employee Kyle Slosson has been promoted to the role.
Brought to you by
Have a Plan for EmergenciesEmergencies can happen anytime, anywhere , and Jewelers of America has what you need to be prepared for it all.
IndependentsMar 06, 2025
Wixon Jewelers to Close After 37 YearsFirst-generation jewelers Dan and Hope Wixon are retiring and will close their Minneapolis-area jewelry store in May.
Weekly QuizMar 06, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMar 06, 2025
Guzema, 3.1 Phillip Lim Collab on New ‘Snake’ DesignsThe limited-edition collection, a nod to the Year of the Snake, is Ukrainian brand Guzema’s first partnership with a U.S. brand.
IndependentsMar 06, 2025
Stephen Barnes Is the New Owner of IJOAfter more than 50 years, Jeff Roberts is handing over ownership of the organization to IJO President Stephen Barnes.
Brought to you by
A Diamond ETF is the Way to Reinvigorate Natural Diamond SalesThe jewelry industry faces challenges from lab-grown diamonds. A diamond ETF can restore natural diamonds' value and drive investor demand.
Events & AwardsMar 06, 2025
Borsheims’ ‘Ike-It’ Award Goes to JewelerSenior Jeweler Jay Wolff was named employee of the year.
MajorsMar 05, 2025
Neiman Marcus’ Dallas Flagship Store to Close, Confirms Saks GlobalThe 111-year-old store will close following a dispute among Saks Global, a landlord, and the City of Dallas over a small piece of land.
AuctionsMar 05, 2025
Sotheby's To Auction 51 ‘Alien’ WatchesThe upcoming “Area_51” watch sale is a collaboration with heist-out, featuring vintage and modern timepieces with futuristic designs.
MajorsMar 05, 2025
Jewelers of America Unveils 3-Year Strategic Plan The trade organization, which will mark 120 years of service next year, has a refined focus and a new mission statement.
Events & AwardsMar 05, 2025
92NY Accepting 2025 Jewelry Artist Residency ApplicationsThe application period is now open for established and emerging jewelers and metalsmiths to apply to the month-long residency program.
CrimeMar 04, 2025
4 Suspects Arrested in Fatal Armed Robbery of California Jewelry Store Uc Thí Vo, who co-owned Kim Tin Jewelry in Sacramento with her husband of 40 years, was killed during the November 2024 robbery.
CrimeMar 04, 2025
NYC Diamond Dealer Pleads Guilty to Lab-Grown Diamond SwapsManashe Sezanayev pleaded guilty to grand larceny and is expected to receive five years’ probation when he’s sentenced in May.
TrendsMar 04, 2025
Amanda’s Style File: Peaceful and Powerful AquamarineThe March birthstone pairs perfectly with hues of Mocha Mousse, Pantone’s Color of the Year for 2025.
ColumnistsMar 04, 2025
The Smart Lab: Using Online Events to Supercharge Sales Emmanuel Raheb shares strategies to prepare for, publicize, and engage the audience during events on platforms like TikTok and Zoom.
EditorsMar 03, 2025
Drop Necklaces, Archival Pieces Take Over at the 2025 OscarsFrom Doja Cat to Mikey Madison and Selena Gomez, many of this year’s Academy Awards attendees donned drop necklaces.
Policies & IssuesMar 03, 2025
Customs Indefinitely Postpones Requirement to Disclose Country of MiningOriginally slated to take effect in April, official U.S. Customs and Border Protection documents now show the implementation date as “TBD.”
SurveysMar 03, 2025
Consumer Confidence Fell in February Amid Concerns About the FutureThe recent jump in the prices of household staples, like eggs, and the potential impact of tariffs worried consumers.
Events & AwardsMar 03, 2025
AGA Now Accepting Applications for Its Gemological Education Scholarship The application period for the program is now open for aspiring gemologists around the world.
CollectionsFeb 28, 2025
Piece of the Week: Ironhorse Quillwork EarringsThe work of Indigenous designer Joe Big Mountain, these earrings are similar to the pair Lily Gladstone just wore to the SAG Awards.
AuctionsFeb 28, 2025
300-Year-Old Ring With Ties to Witch Trial Judge Up for Auction A metal detectorist uncovered the ring created in memory of Sir Richard Rainsford, who presided over some of England’s last witch trials.
Recorded WebinarsFeb 28, 2025
Watch: 2025 Jewelry Trends ForecastFine jewelry consultant and publicist Francesca Simons joins Amanda Gizzi and Natalie Francisco to discuss the trends set to rise this year.
TrendsFeb 27, 2025
Model Winnie Harlow Says ‘Yes’ to 3-Stone Engagement RingHarlow’s partner, NBA player Kyle Kuzma, worked with Vobara to design the ring, which features oval and pear-shaped diamonds.
MajorsFeb 27, 2025
Winona Ryder, Iman Star in New Pandora CampaignThe Danish jeweler released the next chapter of its “Be Love” campaign, which celebrates love in all its forms.
Events & AwardsFeb 27, 2025
JA to Host Workshop During Alabama Jewelers Association ConventionThe learning workshop and the convention are both scheduled to take place April 26 and 27 in Montgomery, Alabama.
