EditorsJan 06, 2025
White Hot: 8 Glamorous Jewelry Looks From the Golden GlobesFrom Zendaya to Selena Gomez and Zoe Saldaña, many stars at the 82nd Golden Globes were wearing white gold or platinum jewelry.
SourcingOct 11, 2016
Gemfields’ September Auction Nets $11M
The sale, which offered emerald and amethyst from Zambia, indicated a softening in demand for lower-quality gemstones in some markets.
Gemfields, which mines colored gemstones in Africa, just held a sale of commercial-grade rough emeralds and higher-quality amethyst in Jaipur, India.
London--While it sold about 81 percent of the commercial-quality emerald lots put up for auction, Gemfields’ latest auction indicated a softening in demand for the material in some markets.
The company’s latest sale, held in Jaipur, India, from Sept. 26 to 29, included both predominantly commercial-quality rough emerald from the Kagem mine as well as higher-quality amethyst from the Kariba mine, both of which are located in Zambia.
The emerald auction saw revenues reach $10.7 million, resulting in $3.28 per carat for the auction mix offered.
With 3.27 million carats of the 4.05 million on the block selling, the auction was 81 percent sold by volume and 82 percent sold by value.
Gemfields’ last auction of commercial-quality emerald, held in Jaipur in May, was 76 percent sold by volume and 79 percent sold by value but saw revenues reach $14.3 million.
The mining company’s 23 auctions of material mined at Kagem since July 2009 have generated $437 million in revenues.
“While there is evidence of a softening in demand for some of the lower qualities in some markets, the overall average price per carat achieved was impacted by this auction not having the benefit of some of the larger-size, higher-quality gems that were placed on offer in our May 2016 auction,” Gemfields CEO Ian Harebottle said.
The Jaipur event also was used to auction off higher-quality amethyst from Kariba Minerals.
The auction put 13.6 million carats on the block, selling 11.6 million, or 86 percent by volume, and generating revenues of $400,000. It realized an overall average of approximately 4 cents per carat.
Gemfields has hosted only four rough amethyst auctions to date.
No beryl was placed on offer at this most recent sale.
The next Gemfields auction is slated for December in Singapore, comprised mostly of mixed-quality rough ruby from the Montepuez mine in Mozambique.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
CrimeJan 06, 2025
FBI Adds 2 Suspected Jewelry Thieves to Its Wanted ListDescribed by JSA as being “habitual offenders,” Vasile Sava and Onita Rostas have federal warrants out for their arrest in Kansas.
MajorsJan 06, 2025
PDPaola Opens First U.S. StoreThe Barcelona-based brand’s flagship boutique is located in New York City’s West Village neighborhood.
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday CampaignA Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
IndependentsJan 06, 2025
Facets of Fire Debuts New Jewelry DisplaysA solar-powered loose diamond holder rotates the stones to show off how they catch the light.
Weekly QuizDec 27, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsJan 03, 2025
Kelly Newton, Shipley Award Winner and Devoted Family Man, Dies at 74Newton owned and operated Newton’s Jewelers in Fort Smith, Arkansas, and is remembered for being positive, honest, and loving.
Events & AwardsJan 03, 2025
12 Works by Glenn Lehrer, Paula Crevoshay on Display at Lapidary Museum“Synergy & Symbiosis” is open now through late April at the Lizzadro Museum of Lapidary Art in Oak Brook, Illinois.
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
CollectionsJan 03, 2025
Piece of the Week: Renna’s ‘Butterfly Caspian’ NecklaceBegin 2025 with a butterfly intaglio symbolizing change and transformation.
CrimeJan 02, 2025
Rolex Sale That Went South Led to Murder of Florida Jeweler, Report SaysJeweler Anthony D’Amore was found dead inside his office Dec. 23, marking the fourth jeweler killed on the job in 2024, according to JSA.
WatchesJan 02, 2025
Ben Bridge Opens Tudor Boutique in HonoluluThe opening marks Tudor’s first location in Hawaii.
TrendsJan 02, 2025
Amanda’s Style File: New Year, New Jewels Set the tone for 2025 and commemorate the year gone by with glamorous jewelry fit for celebration.
IndependentsDec 30, 2024
In Memoriam: Jewelry Industry Leaders and Innovators We Lost in 2024From groundbreaking designers to dedicated retailers, National Jeweler pays tribute to the colleagues we bid farewell to this year.
MajorsDec 30, 2024
Saks Global Finalizes Acquisition of Neiman MarcusThe retailer’s portfolio now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks Off 5th.
Events & AwardsDec 30, 2024
Registration Now Open for JIS Spring 2025The jewelry trade show is set for March 9-11 in Miami.
IndependentsDec 30, 2024
MJSA Elects New Board ChairEdward N. DeCristofaro, who served as MJSA’s board chair from 2012 to 2014, is returning to the role.
MajorsDec 27, 2024
Buccellati to Expand Workforce by 500 Employees Over Next Three YearsThe Richemont-owned company is investing in its jewelry production and watchmaking workshops.
Events & AwardsDec 27, 2024
18 Designers Graduate from WJA’s Jewelry Loupe ProjectThe designers participated in a six-month business development and mentorship program to develop and launch their jewelry collections.
MajorsDec 24, 2024
Nordstrom Family, Partner to Take Retailer Private in $6B DealMembers of the founding family have partnered with Mexican retail company El Puerto de Liverpool to acquire Nordstrom.
MajorsDec 24, 2024
Boucheron Bets on Las VegasThe brand has opened its second U.S. location in the Fontainebleau resort and casino.
EditorsDec 24, 2024
The Spectrum Jewels I Want to Find Under the Tree Associate Editor Lauren McLemore highlights pieces from the AGTA Spectrum & Cutting Edge Awards she’d be thrilled to unwrap on Christmas.
SourcingDec 24, 2024
Gemfields to Temporarily Suspend Emerald MiningThe move is one of several cost-cutting measures outlined by the company as it faces a weaker luxury market and other challenges.
IndependentsDec 23, 2024
Philadelphia 76ers’ Tyrese Maxey Stars in The 1916 Company’s New CampaignThe retailer’s “On the Clock” campaign celebrates how time, precision, and purpose come together.
EditorsDec 23, 2024
My Favorite Piece of the Week Jewels of 2024Associate Editor Natalie Francisco chose her 12 favorite Piece of the Week picks from the year gone by.
GradingDec 23, 2024
GIA Adds Filler Identification to Emerald ReportsLab clients have the option to request this addition on their emerald reports.
Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein InternshipJamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for CharityIn the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
