Gemfields sold 87% lots of Mixed-Quality Rubies

 

99830 carats were offered & 68705 carats; i.e. 69% auctioned 

Gemfields announced the auction result of the Mixed-Quality Rubies and according to the key highlights, the Mixed-Quality Ruby Auction for the month of June 2025 are, 1: Total auction revenues of USD 31.7 million. 2: 78 of the 90 lots offered for sale were sold (87%). 3: 99,830 carats were offered for sale with 68,705 carats sold (69%) & 4: Average sales price of USD 461.48 per carat. 

The auction included rubies from a newer area of MRM which previously hasn’t been represented at auction in meaningful quantities, including a notable 36-carat ruby (pictured below) which sold well, becoming the third-most-valuable single-gemstone lot in MRM’s history. 

This auction follows a mini-auction of predominantly small-sized gemstones held in April 2025 that achieved auction revenues of USD 7.2 million and which would normally have been included in the June auction.

Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented; “While this was our smallest mixed-quality ruby offering by weight to date, and there is clearly ongoing instability in the market stemming from, inter alia, ongoing geo-political turbulence, China’s economic difficulties and considerable tariff uncertainty, today’s auction result demonstrated the resilience of rubies in turbulent times.  

Demand and pricing for fine-quality rubies remain strong. Notably, the secondary-type rubies recently recovered from a newer section of the mine, exhibiting different characteristics, were generally well received by auction customers.  

The 36-carat, fine-quality ruby recovered from this newer section of the mine attracted strong interest from all auction customers and achieved a highly pleasing sale price. This is a particularly promising development as Montepuez Ruby Mining (MRM) advances towards the completion of Processing Plant 2 (PP2), enhancing its ability to deliver a consistent and diversified supply of Mozambican rubies to meet the evolving demands of the market.  

It should be noted that the overall average USD per carat price was skewed by a combination of the sale in April 2025 of some predominantly small-sized rubies which would typically be included in the June auction and a number of higher weight, lower quality lots that remained unsold.”  

The gemstones were extracted in Mozambique by Montepuez Ruby Mining Limitada which is 75% owned by Gemfields and 25% by Mwiriti Limitada. The proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the Republic of Mozambique being paid on the full sales prices achieved at the auction.  

The auction lots were made available in Bangkok for private, in-person viewings by customers. 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.