Auction Results - Commercial Quality Emeralds
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("Gemfields" or the "Company")
Auction Results - Commercial Quality Emeralds
LONDON, 25 MARCH 2024
Gemfields is pleased to announce the results of an auction comprised of commercial quality rough emeralds held during the period 5 - 22 March 2024.
Highlights: March 2024 - Commercial Quality Emerald Auction
- Total auction revenues of USD 17.1 million
- 43 lots were offered for sale, of which 40 were sold (93%)
- Average price of USD 4.45 per carat
- The 47 auctions of Kagem gemstones held since July 2009 have generated USD 1,006 million in total revenues, reaching the USD 1 billion mark
Adrian Banks, Gemfields' Managing Director of Product & Sales, commented:
"We are pleased to conclude another successful Kagem auction, demonstrating that the commercial-quality emerald market remains in good shape and prices achieved are broadly in line with the September 2023 commercial-quality auction. This auction offering included large quantities of lower-quality emeralds which would normally be sold to smaller manufacturers in Jaipur via our Direct Sales channel. These parcels accounted for 55% of the auction by weight, resulting in the lower overall dollar-per-carat figure realised at this auction. The three unsold lots were also not typical auction grades, being one large cluster of low-quality crystals and two lots of 'Fines' comprised of small-size material.
"We now look forward to our next higher-quality emerald and mixed-quality ruby auctions to be held in Bangkok over May and June 2024."
The auction lots were made available for private, in-person viewings by customers in Jaipur. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed-bid process.
| AUCTION RESULTS (COMMERCIAL QUALITY) | Mar-Apr '22 AUCTION | Aug-Sep '22 AUCTION | Mar '23 AUCTION | Aug-Sep '23 AUCTION | Mar '24 AUCTION |
|---|---|---|---|---|---|
| Dates | 15 Mar - 1 Apr 2022 | 31 Aug - 19 Sept 2022 | 6 - 24 Mar 2023 | 29 Aug - 15 Sept 2023 | 5 - 22 Mar 2024 |
| Location | Jaipur, India / Online | Jaipur, India / Online | Jaipur, India / Online | Jaipur, India / Online | Jaipur, India / Online |
| Type | Commercial Quality | Commercial Quality | Commercial Quality | Commercial Quality | Commercial Quality |
| Carats offered | 4.52 million | 3.75 million | 3.15 million | 3.39 million | 4.17 million |
| Carats sold | 4.52 million | 3.65 million | 2.97 million | 3.39 million | 3.85 million |
| No. of companies placing bids | 56 | 44 | 45 | 50 | 50 |
| No. of lots offered | 32 | 34 | 29 | 43 | 43 |
| No. of lots sold | 32 | 33 | 25 | 43 | 40 |
| Percentage of lots sold | 100% | 97% | 86% | 100% | 93% |
| Percentage of lots sold by weight | 100% | 97% | 95% | 100% | 92% |
| Total sales realised at auction | USD 42.3 million | USD 32.9 million | USD 21.2 million | USD 25.5 million | USD 17.1 million |
| Average per carat sales value | USD 9.37/carat | USD 9.01/carat | USD 7.13/carat | USD 7.51/carat | USD 4.45/carat |
| GEMFIELDS | |||||
| GEMFIELDS.COM | INVESTORS | FOUNDATION | |||
| YOUTUBE | |||||
| FABERGÉ | |||||
| FABERGÉ.COM | YOUTUBE | ||||
KAGEM MINING LINKEDIN
MONTEPUEZ RUBY MINING LINKEDIN
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