Gemfields auctioned at average US$113.96 per carat
Gemfields announces auction results of higher-quality emeralds Gemfields announces the results of an auction comprised of higher-quality rough emeralds held during the period 4 – 21 November 2024. According to the reported highlights of the November 2024 Higher-Quality Emerald Auction is, 1: Total auction revenues of USD 16.1 million, 2: 43 lots were offered for sale of which 30 were sold (70%), 3: 141,084 carats of 200,460 offered were sold (70%), 4: Average price of USD 113.96 per carat, 5: The 50 auctions of Kagem gemstones held since July 2009 have generated USD 1,068 million in total revenues. Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented, “While the top quality lots in this auction saw bidding within touching distance of our all-time records for emeralds, the overall result for this auction is very disappointing, driven by fewer and poorer bids for lesser quality grades. While the wider luxury and gemstone markets are undeniably...