Coloured gemstone miner Gemfields achieved US$4.8 million from the sale of previously unsold, higher-quality emeralds at its latest auction. 

The sale, held from February 19 to 21, 2025, saw 10 of the 13 lots sold, representing 45,864 carats out of 59,192 carats that were on offer. Average sales price was US$105.49 per carat.

The “mini auction” featured higher-quality emeralds that were previously offered in Gemfields’ November 2024 auction. 

Gemfields’ Managing Director of Product & Sales Adrian Banks said the composition of the schedules on offer remained unchanged, providing Gemfields with a rare opportunity to directly compare demand and pricing between the November 2024 and February 2025 auctions.

“It was pleasing to receive notably higher bids, resulting in 10 of the 13 unsold lots being successfully sold in this auction,” noted Banks. “Although market sentiment remains clearly subdued, it is encouraging to see improvement in both demand and pricing.”

The rough emeralds sold were extracted by Kagem, where Gemfields has a 75 per cent stake. The remaining 25 per cent is owned by the Industrial Development Corporation of Zambia.