Gemfields announced a 17% rise in revenue from its recent auction of rubies, citing a “significant rebound in market prices,” IDEX Online reports.
The UK-based miner of colored gems sold $80.4 million worth of mixed-quality rough at a series of online and physical auctions held in Bangkok earlier this month, marking an increase from the $66.8 million achieved in December last year.
The average price per carat reached $265.99 – a growth of over 40% since December. However, Gemfields acknowledged that this figure was inflated due to the unsold 26.8kg lot, representing 30% of the total weight offered.
Adrian Banks, Gemfields’ managing director of product and sales, commented: “The ruby market is clearly firing on all 12 cylinders and the step-change in market pricing which we reported in 2022 is notably enhanced.”
