Lab-GrownMay 12, 2025
Lightbox to Go Dark by Summer, De Beers Says The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.
OtherNov 19, 2013
Gemfields beryl, emerald auction totals $16M
Gemfields’ auction of predominantly lower-quality rough emerald and beryl in Lusaka realized $16.4 million, a company record for lower-grade auctions.
Lusaka, Zambia--Gemfields’ auction of predominantly lower-quality rough emerald and beryl in Lusaka realized $16.4 million, a company record for lower-grade auctions.
The auction, held Nov. 11 to 15, sold 91 percent by value, and 4.9 million carats of the 5.6 million offered were purchased, meaning the sale sold 88 percent by volume.
Gemfields also reported that market conditions remain robust, yielding solid increases in prices. The per-carat price reached at this Lusaka auction was $3.32, a 27 percent increase as compared with the previous record.
This auction was the second featuring gems mined by Gemfields at the Kagem emerald mine in Zambia held during the current fiscal year, ending June 30, 2014. The first, held in July, totaled $31.5 million and set a new price-per-carat record while selling 100 percent by lot.
Gemfields also held an auction of traded rough emeralds in Jaipur, India in September, yielding gross revenues of $8.5 million and achieving a company price per carat high of $58.
"Gemfields has now completed three successful auctions in Zambia, all during the last eight months,” said CEO Ian Harebottle. “We have again set two records for auctions of predominantly lower-quality material--the highest total revenue and the highest average per carat price. We are delighted that this auction further demonstrates Lusaka to be a key hub on the international emerald auction circuit and, as always, we would like to thank the Zambian government, our partners in Kagem, for their ongoing support and hospitality.”
The company’s year-to-date auction revenues are $56.4 million, which surpasses the all-sources revenue of $48.4 million achieved in the fiscal full year ended June 30. The company’s financials were negatively affected during that period by the discussions between the company and the Zambian government regarding the proposed ban on auctioning emeralds outside of Zambia. The back-and-forth led to Gemfields holding one less auction.
Gemfields has held a total of 14 auctions since 2009, generating $224 million in total revenues.
More on Other
The Latest
Policies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.
Events & AwardsMay 12, 2025
Jewelry By Picasso, Dalí on Display at Florida Art Museum “Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsMay 12, 2025
CASE Awards Now Accepting Entries For 2025The deadline to submit is June 16.
Weekly QuizMay 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal InvestigationMoti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s DayLichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
SourcingMay 09, 2025
Gemfields Resumes Emerald Mining in ZambiaThe miner announced plans to recommence open-pit mining at Kagem.
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.
EditorsMay 08, 2025
5 ‘Superfine’ Met Gala Jewelry MomentsAssociate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.
Supplier BulletinMay 08, 2025
Instappraise Introduces Game-Changing Trifold Appraisal FormatSponsored by Instappraise
FinancialsMay 08, 2025
Brilliant Earth Notes an Uptick in Engagement Ring Sales in Q1CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.
IndependentsMay 08, 2025
Margot McKinney Lands in the U.S. With New BoutiqueThe brand’s first independent location outside of Australia has opened in Beverly Hills, California.
IndependentsMay 08, 2025
Verragio Announces New Regional Sales ManagerCathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.
FinancialsMay 07, 2025
Pandora Posts Strong Q1, Plans for TariffsThe company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.
ColumnistsMay 07, 2025
The Smart Lab: Building a Seasonal Marketing Strategy for Mother’s Day and BeyondConnecting with your customers throughout the year is key to a successful holiday marketing push.
SourcingMay 07, 2025
Gemfields Says Emerald Sales Improved in Latest AuctionIts commercial-quality emerald sale held last month totaled more than $16 million, up from about $11 million in September 2024.
TechnologyMay 07, 2025
Punchmark’s Latest Podcast Features a Very Special Guest National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.
AuctionsMay 06, 2025
Harwell Godfrey Reimagines 10-Carat Blue Diamond for Met Gala-Ready BroochDesigner Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”
Events & AwardsMay 06, 2025
Here’s Who Made Jewelers of America’s New ‘20 Under 40’ ListExpanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.
IndependentsMay 06, 2025
Sissy's Log Cabin Opens New StoreLocated in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.
IndependentsMay 06, 2025
Gunderson’s Jewelers to Be Featured on ‘World’s Greatest’ TV SeriesThe episode about the family-owned jeweler will premiere May 17.
IndependentsMay 05, 2025
Zadok Jewelers Opens Store in AustinThe Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.
AuctionsMay 05, 2025
Nancy Astor’s Cartier Tiara Heads to AuctionThe turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.
SourcingMay 05, 2025
Crater of Diamonds Yields 4-Carat Brown Diamond“The Duke Diamond” is the largest diamond registered at the Arkansas park so far this year.
TrendsMay 02, 2025
Ring Concierge, Kraft Partner on Mother’s Day Macaroni Necklace The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.
