GJ Town India

Managed with mini & online auctions! Gemfields’ typical auction schedule consists of five to six auctions per year: two of mixed-quality rubies and three to four of emeralds (split between higher quality and commercial quality). In 2019, Gemfields’ six auctions accounted for 93% of total group revenue (approximately USD 200 million out of some USD 216 million) with USD 120 million of revenue derived from two ruby auctions and USD 80 million derived from four emerald auctions. The average number of lots offered at Gemfields’ emerald and ruby auctions to date is 24 and 72 respectively.   Gemfields’ 2020 auction schedule has been severely impacted by the many travel, quarantine and congregating restrictions put in place to mitigate Covid-19 contagion. Gemfields has only been able to host one regular-format auction thus far in 2020, yielding USD 11.5 million from the sale of commercial quality emeralds in February 2020 in Lusaka.  Five further regular-format auctions scheduled for Ma

  1,733 carats brought US$ $6.9 million   Alrosa announces the results of special size (over 10.8 carats) rough diamond auction held in Belgium this October. The company sold 112 rough diamonds with a total weight of 1,733 carats. The overall revenue amounted to $6.9 million. “Despite all the current challenges associated with the pandemic, we try to meet the needs of our customers by offering rough diamonds in those countries where they operate. During the latest auction, 28 companies purchased our diamonds. We appreciate that our customers find an opportunity to continue their business and purchase our products despite all the restrictions,” said Evgeny Agureev, Deputy CEO of Alrosa. Under the current legislation, Alrosa sells special-size (over 10.8 carats) rough diamonds at auctions only. In March 2020, Alrosa suspended auctions due to the Covid-19 pandemic. Customers participated in online auctions with detailed digital copies of each rough diamond provided for review and detail