Gemfields auction sold all offered 5.7mn carats!
Sapphire, corundum & ruby auction revenues of US$2.3mn Gemfields announces the results of an auction of predominantly commercial-quality sapphire, corundum and commercial-quality ruby held from 2 to 4 September 2024. Key takeaways are, 1: MRM Commercial-Quality Auction – September 2024, 2: Auction revenues of USD 2.3 million (2023’s MRM Commercial-Quality Auction: USD 1.5 million). 3: All of the 5.7 million carats (1,130 kilograms) offered in 10 lots were sold (100%), 4: Average sales price of USD 0.41 per carat. Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented, “We extend our gratitude to the auction participants who made this brief, three-day auction such an enjoyable event. The majority of the auction’s offering consisted of corundum and sapphire, which are considered by- products of MRM. Despite the commercial nature of these goods, the auction saw strong attendance and robust demand.