The retailer’s “On the Clock” campaign celebrates how time, precision, and purpose come together.
Gemfields June Ruby Auction Reaches Record High
The Singapore sale of mixed quality rough rubies was 93 percent sold by weight and hit a revenue high of $71.8 million.
London--If recent auction results were any indication, demand for Gemfields’ Mozambican rubies is strong.
The colored stone miner and marketer held its latest ruby auction from June 5 to 9 in Singapore, putting on offer untreated Mozambique rough rubies of high, medium and commercial grades.
The auction set two records for Gemfields--revenues reached an all-time high for any of the company’s sales at $71.8 million, while the average per-carat price was $122.
Of the 629,893 carats on offer, 588,656--or 93 percent by weight--were sold, which Gemfields said in a press release “provided a high level of comfort in respect of (its) understanding of the current market demand profile.”
Sean Gilbertson, CEO of Pallinghurst and Gemfields, added the “health of market demand for Mozambican rubies mined by MRM and marketed by Gemfields is amply demonstrated by these record-breaking auction results.”
Both of the last two ruby auctions for Gemfields offered mixed quality rough rubies. The November 2017 auction was 89 percent sold by weight and reached revenues of $55 million, while the June 2017 auction was 85 percent sold by weight and revenues were $54.8 million.
Last week’s event was Gemfields’ tenth auction of rough rubies from its Montepuez mining site, which has generated $407 million in total revenues since June 2014.
The news of the record ruby sale follows a May emerald auction that saw disappointing results for Gemfields as the Indian sector continued to struggle amid fallout from the Nirav Modi bank scandal.
In that auction, only 56 percent of the 310,000 carats on offer were sold after so many emerald customers have had trouble securing financing.
The Latest
Associate Editor Natalie Francisco chose her 12 favorite Piece of the Week picks from the year gone by.
Lab clients have the option to request this addition on their emerald reports.
A Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
Jamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
In the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
Co-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.
‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
Along with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
The man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.
The nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.
More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.
The videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.
Feldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.
The luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.
Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.
The nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.
The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.
“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.
Gearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.
The diamond cut grade is now available for marquise- and pear-shaped diamonds.
DDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.
Estimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
The highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
Recent expansion initiatives at the Zambian emerald mine have shown strong production numbers, said Grizzly founder Abdoulaye Ndiaye.