GEMFIELDS BREAKS OWN RECORD IN LATEST EMERALD AUCTION
Emerald miner Gemfields raked in $22.4 million at its Singapore auction of higher quality emeralds from its Kagem mine in Zambia (May 14-17). According to Gem Konnect, the company made an average $71.85 per carat, which is “an all time record for Gemfields auctions”.
45 companies participated in the auction, which sold 28 of the 35 offered lots, and 72% of the carats offered. According to Gemfields Managing Director of Product & Sales Adrian Banks, Chatree Gems of Thailand won the top lot, which comprised two gems weighing a total of 62 carats, and “set a new record price per carat for Zambian rough emeralds at a Gemfields auction”.
Since Gemfields started the auctions from Kagem in 2009, the miner held 32 auctions, and sold an aggregate $589 million.