Gemfields Says Emerald Sales Improved in Latest Auction
Its commercial-quality emerald sale held last month totaled more than $16 million, up from about $11 million in September 2024.

It was 89 percent sold by lot, with 32 of the 36 lots offered finding buyers, and 79 percent sold by weight.
Adrian Banks, Gemfields’ managing director of product and sales, said the results are a “notable improvement” on the company’s disappointing emerald auction held in September 2024.
“An increased number of bids and stronger prices across a broad quality range point to improved sentiment and demand since our experience in Q3 2024,” he said.
The most recent sale generated an average price per carat of $6.87, up more than $2 a carat from the per-carat average of $4.47 posted in September, with that sale totaling $10.8 million.
However, Banks noted that the per-carat price was “positively skewed” by the fact that Gemfields withdrew some “very low-quality” material from the auction. That material accounted for about 19 percent of the total carat weight offering.
The miner also noted that auction results are “not always directly comparable,” as the lots offered vary in size, color, and clarity on account of variations in mined production and market demand.
The rough emeralds were mined at Kagem, which is 75 percent owned by Gemfields and 25 percent by the Industrial Development Corporation of Zambia.
The auction was held April 11 to 29, taking place via an online auction platform specifically adapted for the miner that permits customers from multiple jurisdictions to participate in a sealed-bid process.
Prior to the sale, the auction lots were made available for private in-person viewings by customers in Jaipur, India.
In December, Gemfields announced it was suspending operations at Kagem for up to six months due to an oversupply of emeralds on the market.
The suspension remained in effect as of press time.
The Latest

Current Diamond Council of America President and CEO Terry Chandler is set to retire in January 2026.

The company's Series A shares will continue to trade following a reverse stock split while its Series B shares will be delisted.

Communicating clearly with your staff is key to navigating turbulent times, writes columnist Peter Smith.

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

The “Inner Journey” collection debuted as the brand celebrated its 25th anniversary, with designs inspired by Morais’ journey.


Tanishq is expanding its presence in the United States with a new store in Santa Clara, California, which is its largest in the country.

Sales for Richemont’s four jewelry brands increased 8 percent, while watch sales picked up toward the end of the year.

Supplier Spotlight Sponsored by GIA

Two scholarships are available, one for new and non-members and another for NAJA certified members.

The retailer’s new flagship is set to open in October at the Tuscan Village development in Salem, New Hampshire.

Plus, parent company Saks Global announces plans to cut ties with up to 600 vendors.

Peter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.

The necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.

Sponsored by the Las Vegas Antique Jewelry and Watch Show

A private American collector purchased the 10-carat fancy vivid blue diamond.

The designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.

Around 54 million Americans and counting live with a disability. Here’s how to make your jewelry store and website more accessible.

The event is also accepting poster submissions now through June 16.

Before Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.

The one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.

While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.

The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.

The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.

The donation was the result of the brand’s annual Earth Day Ingot event.

Located in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.

The nonprofit has made updates to the content in its beginner and advanced jewelry sales courses.

BIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.