PodcastsJan 12, 2026
The latest poscasttest
SourcingMay 31, 2016
Gemfields’ May Emerald Auction Brings in $14M
Though the sale set a new record for per-carat prices for lower quality stones, it was only 76 percent sold by weight and 79 percent sold by value.
London--Gemfields’ latest auction, which featured mostly lower quality rough emeralds from the Kagem mine in Zambia, totaled $14.3 million.
The sale, which was held from May 17 to 20 in Jaipur, India and included no beryl, set a record for per-carat prices for lower quality auctions at $5.15 per carat.
Approximately 3.67 million carats of lower quality emerald were put up for offer, but the auction was only 76 percent sold by weight and 79 percent sold by value.
Gemfields said that there were a few lots in which there was a “slightly higher degree of uncertainty with respect to final recovery from rough to finished goods.” As such, minimum reserve prices weren’t met and the lots were held back.
The company added that it “believes that these goods offer considerable opportunity to further build demand in other new areas” and it is “confident in the quality and longer-term value of these lots,” which is supported by evidence of the U.S. market continuing to come back on stream.
As a result of the May Jaipur auction, the Kagem mine has exceeded $100 million in revenue for the current financial year.
Gemfields has held 22 auctions featuring material sourced at Kagem since July 2009, generating a total of $426 million.
The mine is 75 percent owned by Gemfields and 25 percent owned by the government of the Republic of Zambia.
The company’s next auction is expected to take place next month in Singapore, comprised predominately of mixed quality rough ruby from the Montepuez mine in Mozambique.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
SurveysOct 07, 2024
Hill & Co.’s New ‘Business of Jewelry Report’ Is OutThe first in what is slated to be a series of in-depth reports from the consulting company, it focuses on shortening supply chains.
WatchesOct 04, 2024
Watches of Switzerland Clocks Another Acquisition—HodinkeeThe company said Benjamin Clymer will return to his role as head of the watch news website, which will maintain editorial independence.
