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The company’s managing director of sales said the results demonstrate “continued strong demand for commercial-quality emeralds.”
Colored gemstone miner Gemfields just announced the results of its latest commercial-quality emerald auction. In-person viewings of the auction’s lots took place in Jaipur, India. The auction took place online over a three-week period beginning Aug. 24.
London—Gemfields just concluded its first commercial-quality emerald auction in nine months and reported strong interest in its goods as well as continued demand for emeralds.
The colored gemstone miner announced Friday that the online auction, held Aug. 24 to Sept. 10, generated $29.6 million in revenue, with all 44 lots offered finding buyers and the average sales value nearing $10 per carat.
Adrian Banks, the company’s managing director of product and sales, said he was “encouraged by this robust result.”
Metrics were up across the board compared with the company’s last emerald auction, held in November/December 2025.
Sales increased nearly 17 percent ($25.4 million to $29.6 million); percentage of lots sold rose from 98 percent to 100 percent; and price per carat jumped 30 percent ($7.46 per carat to $9.72 per carat), though Gemfields noted that the mix of goods varies from auction to auction, meaning the results aren’t always directly comparable.
“Viewing activity in Jaipur was intense throughout the auction, reflecting a high level of customer engagement, with very positive feedback regarding both the quality of the emeralds and the composition of the lots offered,” Banks said.
“This result demonstrates continued strong demand for commercial-quality emeralds and reflects the solid production performance delivered by Kagem over the past year.”
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The colored gemstone miner announced Friday that the online auction, held Aug. 24 to Sept. 10, generated $29.6 million in revenue, with all 44 lots offered finding buyers and the average sales value nearing $10 per carat.
Adrian Banks, the company’s managing director of product and sales, said he was “encouraged by this robust result.”
Metrics were up across the board compared with the company’s last emerald auction, held in November/December 2025.
Sales increased nearly 17 percent ($25.4 million to $29.6 million); percentage of lots sold rose from 98 percent to 100 percent; and price per carat jumped 30 percent ($7.46 per carat to $9.72 per carat), though Gemfields noted that the mix of goods varies from auction to auction, meaning the results aren’t always directly comparable.
“Viewing activity in Jaipur was intense throughout the auction, reflecting a high level of customer engagement, with very positive feedback regarding both the quality of the emeralds and the composition of the lots offered,” Banks said.
“This result demonstrates continued strong demand for commercial-quality emeralds and reflects the solid production performance delivered by Kagem over the past year.”
The Kagem emerald mine is in Zambia. Gemfields owns 75 percent of the mine and the Industrial Development Corporation of Zambia, a state-owned investment company, owns the remaining 25 percent.
In December 2024, Gemfields announced it would halt production at the mine on Jan.1, 2025, as part of cost-cutting measures and in response to market conditions. At the time, Gemfields said there was too much supply and not enough demand.
Mining at the site resumed five months later, in May 2025, as rough emerald sales improved.
The company’s April 2025 auction was 89 percent sold by lot, a vast improvement from August/September 2024, when only 61 percent of lots found buyers.
Sales increased from $10.8 million to $16.4 million, and average sales value improved, increasing from $4.47 per carat to $6.87 per carat.
Results improved again in the aforementioned auction held at the end of 2025, which was 98 percent sold by lot and generated $25.4 million, with price per carat climbing to $7.46.
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