SourcingMay 05, 2025
Crater of Diamonds Yields 4-Carat Brown DiamondSourcingMay 07, 2025
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.
Gemfields’ latest commercial-quality emerald auction took place April 11-29.
London—Gemfields announced its latest commercial-quality emerald auction brought in $16.4 million, a marked improvement from the third quarter 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.
Related stories will be right here …
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.
More on Sourcing
The Latest
Supplier BulletinJul 03, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
MajorsJul 03, 2025
Brilliant Earth Names Tennis Star Madison Keys as Its New AmbassadorThe 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.
MajorsJul 03, 2025
Muse Sets Up Shop in Nordstrom’s New Jewelry HallThe West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
CollectionsJul 03, 2025
Piece of the Week: A Firework of Diamonds From YepremThe brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.
Weekly QuizJul 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeJul 03, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in BurglariesJSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.
MajorsJul 02, 2025
Boucheron Looks to LA for First West Coast FlagshipLocated on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
MajorsJul 02, 2025
Marco Bicego Opens Milan FlagshipThe new location continues the brand’s celebration of its 25th anniversary.
WatchesJul 02, 2025
Chrono24 Revamps Brand, Launches New CampaignThe online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.
CrimeJul 02, 2025
Pandora, Amazon Partner to Uncover Counterfeit Jewelry NetworkWorking with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.
MajorsJul 01, 2025
Cast Closes Business, Plans for RelaunchThe jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship ProgramThe company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73He is remembered for his successful entrepreneurship, generosity, and dedication to his family.
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report SaysThe jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.
TrendsJul 01, 2025
Amanda’s Style File: Red Hot RubiesWelcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry SalesThe best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education ScholarshipThis year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry“The Jewelry Book” comes out this September.
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech PlatformThe company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
IndependentsJun 27, 2025
David Webb Announces New Hires, PromotionsFollowing its recent acquisition, the storied brand has updated its leadership team and regional managers.
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner AGS also named the recipient of its “Women in Leadership” scholarship.
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap RingThe 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers DownsizesRocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.
IndependentsJun 26, 2025
Penny Ruston Dies at 80 The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.
SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.
