Gemfields emerald auction sees 59% increase on last year

Gemfields rough emerald auction saw a 59 per cent increase on revenue over the prior auction of traded emeralds held last year.

Of the 41 lots offered at the auction held in Jaipur, 21 were sold representing approximately 86 per cent of the market value. The gemstones sold comprised of Zambian and Brazilian emeralds obtained by Gemfields in the open market from various sources.

A total of 40 companies attended and placed bids at the auction. The auction saw 0.764 million carats of traded emeralds placed on offer generating gross auction revenues of USD 13.5 million.

The Jaipur auction yielded an overall average value of USD 50 per carat. While lower than the USD 58 per carat realised in the previous auction of traded emeralds held in September 2013, the composition of the two auctions was considerably different given variations in the qualities available in the open market.

Ian Harebottle, CEO of Gemfields said: “Gemfields’ second standalone auction of traded rough emeralds demonstrates considerable growth in our vision of being able to deliver gems from various sources to our valued customers within the framework of our transparent and well proven auctions.”