Auction Results: Higher-Quality Emeralds
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("Gemfields" or the "Company")
Auction Results: Higher-Quality Emeralds
LONDON, 31 MAY 2024
Total auction revenues of USD 35.0 million
46 lots were offered for sale of which 43 were sold (93%)
Average price of USD 167.51 per carat
The 48 auctions of Kagem gemstones held since July 2009 have generated USD 1,041 million in total revenues
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented:
“We are very pleased to report robust auction results despite slightly softer market conditions. Today’s result demonstrates that both demand and willingness to pay premium prices for fine-quality Zambian emeralds remain at healthy levels. The overall price per carat for the lots sold echoes the record figure achieved in Kagem’s preceding high quality auction of May 2023. It should however be noted that today’s figure has been skewed by the fact that two of the unsold lots were among the lower qualities offered at the auction.
“We now look forward to our forthcoming mixed-quality ruby auction in June 2024 and the next commercial-quality emerald auction in September 2024.”
| AUCTION RESULTS (HIGHER QUALITY) | Nov-Dec ' 21 AUCTION (5 sequential mini-auctions) | May ' 22 AUCTION (5 sequential mini-auctions) | Nov '22 AUCTION (5 sequential mini-auctions) | May-Jun '23 AUCTION (5 sequential mini-auctions) | May '24 AUCTION (5 sequential mini-auctions) |
|---|---|---|---|---|---|
| Dates | 1 Nov - 6 Dec 2021 | 9 - 26 May 2022 | 30 Oct - 17 Nov 2022 | 15 May - 1 Jun 2023 | 13 - 30 May 2024 |
| Location | Various / Online | Bangkok / Online | Bangkok / Online | Bangkok / Online | Bangkok / Online |
| Type | Higher Quality | Higher Quality | Higher Quality | Higher Quality | Higher Quality |
| Carats offered | 250,764 | 277,775 | 426,180 | 264,132 | 240,000 |
| Carats sold | 250,764 | 277,775 | 401,180 | 264,132 | 208,990 |
| No. of companies placing bids | 58 | 62 | 50 | 69 | 60 |
| No. of lots offered | 32 | 38 | 37 | 35 | 46 |
| No. of lots sold | 32 | 38 | 34 | 35 | 43 |
| Percentage of lots sold | 100% | 100% | 92% | 100% | 93% |
| Percentage of lots sold by weight | 100% | 100% | 94% | 100% | 87% |
| Total sales realised at auction | USD 37.8 million | USD 43.3 million | USD 30.8 million | USD 43.7 million | USD 35.0 million |
| Average per carat sales value | USD 150.65 / carat | USD 155.90/carat | USD * 76.78/carat | USD 165.55 /carat | USD 167.51/carat |
* Includes the 37kg 'Kafubu Cluster', which comprised 44% of the weight offered at the auction.
GEMFIELDS
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| YOUTUBE | ||||
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KAGEM MINING LINKEDIN
MONTEPUEZ RUBY MINING LINKEDIN
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