SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest SaleSourcingSep 14, 2026
Gemfields Sells All Lots at First Emerald Auction in 9 Months
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.”
Related stories will be right here …
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.
More on Sourcing
The Latest
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
