SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid UncertaintySourcingApr 29, 2025
Gemfields Mini Ruby Auction Achieves $7M
The miner said its April sale featured a mix of commercial-quality primary rubies and secondary rubies of varying quality.
Gemfields’ recent five-day mini sale of rubies produced “very healthy results” for the size and quality of the material on offer, according to the miner.
London—Gemfields announced its latest rough ruby auction, which took place April 21-25 in Bangkok, Thailand, brought in $7.2 million.
At the sale, 73 percent of the 250,004 carats on offer sold, and the average price per carat was $39.47.
“This auction can be described as a hybrid offering, featuring both primary and secondary rubies,” said Adrian Banks, Gemfields’ managing director of product and sales.
“Over 90 percent of the secondary material was under 0.2 grams (1 carat), presented across 13 lots and spanning a broad range of qualities. The primary rubies offered were of commercial quality, predominantly in smaller sizes.”
Of the 21 lots offered, one lot remained unsold, Gemfields said.
The lot was a 13.6 kg parcel of L2-quality gemstones weighing between 0.05 and 0.09 grams, or about 0.25 to 0.45 carats. The miner said it was expected to yield small, mixed-color sapphires after cutting and polishing.
The lot was the largest by weight, accounting for 27 percent of the total carat weight offered at the auction.
Related stories will be right here …
At the sale, 73 percent of the 250,004 carats on offer sold, and the average price per carat was $39.47.
“This auction can be described as a hybrid offering, featuring both primary and secondary rubies,” said Adrian Banks, Gemfields’ managing director of product and sales.
“Over 90 percent of the secondary material was under 0.2 grams (1 carat), presented across 13 lots and spanning a broad range of qualities. The primary rubies offered were of commercial quality, predominantly in smaller sizes.”
Of the 21 lots offered, one lot remained unsold, Gemfields said.
The lot was a 13.6 kg parcel of L2-quality gemstones weighing between 0.05 and 0.09 grams, or about 0.25 to 0.45 carats. The miner said it was expected to yield small, mixed-color sapphires after cutting and polishing.
The lot was the largest by weight, accounting for 27 percent of the total carat weight offered at the auction.
Montepuez Ruby Mining Limitada (MRM), which is 75 percent owned by Gemfields and 25 percent by Mozambican partner Mwiriti Limitada, mined the gemstones from the Montepuez mine in Mozambique.
“The auction saw strong attendance and robust demand, providing a timely affirmation of the state of the ruby market against the backdrop of tariff-induced uncertainty in global markets,” Banks said.
“We extend our thanks and congratulations to the government of Mozambique and our partners at Mwiriti, both of whom attended, on achieving very healthy results for material of this size and quality.”
The proceeds of the auction will be fully repatriated to MRM in Mozambique, with all royalties due to the Mozambican government paid on the full sales price achieved at the auction.
More on Sourcing
The Latest
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
Weekly QuizSep 10, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 YearsThe Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine CollectionFine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.
Policies & IssuesSep 09, 2026
8 Key Changes the FTC Made to the Jewelry Guides: A Refresher Learn more about the new terms for lab-grown diamonds and composite gemstones, and the major changes in store for precious metals jewelry.
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
