Upcoming B2B Gems & Jewellery Exhibition- 19th - 20th - 21st January 2019. Bangalore.

Gemfields auction brought 33mn!


Gemfields recently held Lusaka Emerald and Amethyst Auctions of predominantly higher quality rough emeraldextracted by Kagem Mining inZambia.The auction also included higher quality amethyst from Kariba Minerals in Zambia.

According to the company the Emerald Auction fetched revenues of USD 33.1 million. New record registered with USD 70.68 per carat for higher quality auctions. About 558k carats were offered for sale and about 469k carats were sold& that stood at 84%. This was the 21 Kagem auctions held since July 2009& Gemfields have generated USD 412 million in total revenues.

The Amethyst Auction brought revenues of USD 0.22 million with the average realised price of USD 3.26 per carat.Total 9.4 million carats were offered for sale& about 6.6 million carats were sold was equal to 70%.In addition to the auction of gemstones mined by Gemfields at Kagem, the Lusaka event was also used to host an auction ofhigher quality amethyst mined by Kariba Minerals.

The Lusaka amethyst auction saw 9.4 million carats of higher quality amethyst extracted from Kariba placed onoffer, with 8 ofthe 14 lots offered being sold, generating auction revenues of USD 0.22 million from the 6.6 million carats sold. The amethystauction realised an overall average value of 3.26 US cents per carat.

Gemfields has hosted only three prior rough amethyst auctions which took place in Jaipur in March 2011, Lusaka in February2015 and Singapore in September 2015.