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Gemfields Achieves $32M at High-Quality Emerald Auction
It included the sale of the 11,685-carat “Imboo” emerald that was recently discovered at Kagem.
Strong demand was “evident across the grades” at Gemfields’ latest emerald auction, according to Adrian Banks, managing director of product and sales at Gemfields.
London—Gemfields has announced that its latest auction of high-quality rough emeralds brought in $32 million.
All 38 lots offered sold, realizing an average per-carat price of $160.78.
The rough emeralds on offer, which included the 11,685-carat “Imboo” emerald, were mined at Kagem, which is 75 percent owned by Gemfields and 25 percent by the Industrial Development Corporation of Zambia.
The auction was the first high-quality emerald sale since the November 2024 auction, which yielded “disappointing” results. Unsold lots from that auction were re-offered for sale this past February.
Operations at Kagem were suspended in January of this year due to oversupply in the market but, following signs of recovery at the April commercial-quality auction, two mining points were reopened in May.
“While the wider market continues to navigate mixed sentiment and tariff uncertainty, today’s auction result has validated these decisions and delivered a highly positive outcome. Strong demand was evident across the grades, with robust prices achieved,” said Adrian Banks, Gemfields’ managing director of product and sales.
The auction was held Aug. 25-Sept. 11., 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.
Lots were made available for private, in-person viewings by customers in Bangkok.
The 52 auctions of Kagem gemstones held since July 2009 have generated more than $1.12 billion in total revenues.
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All 38 lots offered sold, realizing an average per-carat price of $160.78.
The rough emeralds on offer, which included the 11,685-carat “Imboo” emerald, were mined at Kagem, which is 75 percent owned by Gemfields and 25 percent by the Industrial Development Corporation of Zambia.
The auction was the first high-quality emerald sale since the November 2024 auction, which yielded “disappointing” results. Unsold lots from that auction were re-offered for sale this past February.
Operations at Kagem were suspended in January of this year due to oversupply in the market but, following signs of recovery at the April commercial-quality auction, two mining points were reopened in May.
“While the wider market continues to navigate mixed sentiment and tariff uncertainty, today’s auction result has validated these decisions and delivered a highly positive outcome. Strong demand was evident across the grades, with robust prices achieved,” said Adrian Banks, Gemfields’ managing director of product and sales.
The auction was held Aug. 25-Sept. 11., 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.
Lots were made available for private, in-person viewings by customers in Bangkok.
The 52 auctions of Kagem gemstones held since July 2009 have generated more than $1.12 billion in total revenues.
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