AuctionsApr 29, 2025
‘Golconda Blue’ Diamond Pulled From AuctionThe 23-carat fancy vivid blue diamond, set to headline Christie’s May jewelry auction, was expected to sell for as much as $50 million.
OtherFeb 26, 2014
Gemfields emerald, beryl auction nets $36M
Gemfields’ recent auction of predominantly higher quality rough emerald and beryl in Lusaka realized $36.5 million, a company record for any auction.
Lusaka, Zambia--Gemfields’ recent auction of predominantly higher quality rough emerald and beryl in Lusaka realized $36.5 million, a company record for any auction.
Held Feb. 21 to 25, the auction sold 86 percent by value, and 620,000 carats of the 840,000 carats available were purchased, a 74 percent sale by volume.
The company also notes that market conditions for higher quality rough stones remains robust, allowing for solid increases in price. The overall average value at this auction was $59.31 per carat, a 10 percent increase on the previous Kagem record.
This auction was the third featuring gems mined at the Kagem emerald mine in Zambia held during the current fiscal year, which ends June 30.
The first, held last July and featuring higher quality rough, realized $31.5 million and sold 100 percent by lot. The second was held in November and featured predominantly lower quality rough, reaching $16.4 million in total sales.
Including a direct sale of the two lowest grades of beryl, total revenues in the financial year-to-date from rough emerald and beryl sales are at $96.4 million, a record revenue year for Gemfields.
There are two more auctions scheduled to take place before the year is over, including the inaugural auction for rough rubies and corundum from the Montepuez ruby deposit in Mozambique.
RELATED CONTENT: Gemfields beryl, emerald auction totals $16M
“Our commitment to our vision for precious colored gemstones, our operational investments, the acquisition of Fabergé and our ever expanding international marketing endeavors are clearly furthering the momentum we have built during the last five years,” said CEO Ian Harebottle. "Zambia’s role in the global emerald market has never been more important, with Zambian emeralds now favored by many as the emerald of choice.”
Additionally, Kagem Mining Limited has invested $1 million as part of a two-year social investment program to help the communities in which it operates. Initiatives include the funding and construction of a four-ward building at the Nkana Clinic and adding three nurses’ accommodation blocks, turning the facility into a “mini-hospital,” according to Gemfields.
Money will also go to the construction of a new higher secondary school at Chapula and to provide sports equipment to the existing primary school there.
More on Other
The Latest
IndependentsApr 29, 2025
Maryland Jeweler to Close After 36 YearsG.B. Heron Jewelers in Salisbury, Maryland, is set to close as its owner, Jeff Cassels, retires.
ColumnistsApr 29, 2025
Google Ads vs. Social Media Ads: Which Are More Effective?Emmanuel Raheb outlines the differences between the two platforms and posits that the most successful jewelers use both.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2025
Gemfields Mini Ruby Auction Achieves $7MThe miner said its April sale featured a mix of commercial-quality primary rubies and secondary rubies of varying quality.
Weekly QuizApr 24, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeApr 28, 2025
Customs Seizes Nearly 2,000 Pieces of Counterfeit Van Cleef & Arpels JewelryU.S. customs agents in El Paso, Texas, intercepted the package, which would have been worth $9 million if the jewelry was genuine.
TrendsApr 28, 2025
Suzanne Kalan Launches Tech Ring Jacket CollectionHealth monitors become statement pieces when paired with the brand’s new collection of stackable diamond-studded bands.
Brought to you by
Emerging Jewelers Accelerator Program Announces Second Cohort of Aspiring Jewelry Entrepreneurs Six new retail businesses were selected for the 2025 program, which began in January.
Events & AwardsApr 28, 2025
JCK Industry Fund Announces 2025 Grant RecipientsTen organizations were selected this year.
IndependentsApr 28, 2025
John Atencio Appoints 2 to Wholesale TeamKim Carpenter and Sam Gevisenheit have joined the brand.
CollectionsApr 25, 2025
Sylvie Looks to Water in New Sculptural Bridal Collection“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
FinancialsApr 25, 2025
Kering’s Jewelry Brands Persevere as Q1 Sales Sink 14%Boucheron and Pomellato performed well in an otherwise bleak quarter for Kering amid struggles at Gucci.
EditorsApr 25, 2025
Piece of the Week: Deborah Meyers Experience’s ‘The Birds’ EarringsDesigner Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.
SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid UncertaintyThe company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.
Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99 A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.
FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to NoncomplianceThe company failed to file its quarterly reports in a timely manner.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in ItalyLocated in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen BrownThe basketball stars wear men’s jewelry from the “Curb Chain” collection.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry CollectionThe 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
