RapNet


Rapaport News

 

Gemstones

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Gemfields' Emerald Auction Nets $32M

Jul 22, 2013 8:06 AM   By Jeff Miller
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Gemfields plc achieved revenue of $31.5 million, or $54 per carat, for its latest auction of primarily high-quality emerald and beryl in Lusaka, Zambia from July 15 to 19. All of the rough production the company placed on offer sold and the auction yielded the company's highest per carat value to date, beating the previous high of $42.71 per carat.  There were 37 companies participating in the auction, which tendered 583,448 carats in total.

Ian Harebottle, the CEO of Gemfields, said, "Favorable market conditions and particularly strong demand from our customers have yielded excellent auction results and record per carat prices. All indications show that demand for colored gemstones, and especially emeralds, will continue to increase at a steady pace over the coming year. We are delighted that this auction underscores Lusaka as a key hub in the international emerald trade and we would like to thank the Zambian government for their support.''

The company’s 13 auctions held since July 2009 have generated $207.3 million in aggregate revenue.

Tags: auction, carat, emerald, Gemfields, Jeff Miller, value
Similar Articles
GemfieldsNirav Modi Crisis Hits Gemfields
May 27, 2018
Proceeds slumped at Gemfields’ May auction ofhigher-quality rough emeralds as the...
Museum Finds Fakes in Gem Collection
Sapphire Ring Seals Royal Engagement
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us