International News
Gemfields Generates $4.8 Million from Mini-Auction of Higher-Quality Emeralds
Mini-auction of unsold emeralds from November 2024 shows a promising rise in demand and prices, with 77% of lots sold.
Gemfields has reported strong results from its mini-auction held from February 19 to 21, 2025, featuring higher-quality emeralds that had remained unsold during its November 2024 auction. The event raised $4.8 million in revenue, signaling a notable recovery in demand and pricing within the emerald market.
Auction Performance:
- Total revenue: $4.8 million
- Lots sold: 10 out of 13 (77%)
- Carats sold: 45,864 out of 59,192 (77%)
- Average price per carat: $105.49
Adrian Banks, Managing Director of Product & Sales at Gemfields, highlighted that the auction offered a valuable opportunity to assess current market trends. “This auction exclusively featured unsold lots from Kagem’s November 2024 higher-quality emerald auction. With the same schedules in place, we could directly compare demand and pricing, and it was encouraging to see a notable increase in bids. Despite a subdued market sentiment, the rise in demand and pricing is a positive sign for the sector,” said Banks.
The emeralds sold were mined at the Kagem mine in Zambia, where Gemfields holds a 75% stake, while the Industrial Development Corporation of Zambia owns the remaining 25%. Proceeds from the auction will be fully repatriated to Kagem, with royalties paid to the Government of Zambia based on the final sales prices.
With positive market signs emerging, Gemfields remains optimistic about the upcoming trade shows in Bangkok and Hong Kong, anticipating further recovery in the emerald market.
International News
Fluorescent Diamonds: GIA to Introduce Clearer Guidance
According to GIA, around 25% to 35% of all diamonds show some level of fluorescence. Greater transparency about this significant segment of the market could help improve confidence among both consumers and the jewellery trade.
Later this year, the Gemological Institute of America (GIA) will introduce new wording in its diamond grading reports to reduce confusion about fluorescent diamonds. The update, expected in the fourth quarter, is one of the most important steps taken by a grading laboratory to explain this feature more clearly to both the jewellery trade and consumers.
Rapaport Intelligence Report explores what this change could mean for the diamond market. Fluorescence has had a long and complicated history. In the past, fluorescent diamonds often sold at premium prices. However, attitudes changed during the diamond boom of the 1970s and again after a grading controversy in South Korea in the early 1990s. Although later gemological research helped improve confidence in fluorescent diamonds, many buyers still view them negatively, and they often sell at discounted prices.
The report also looks at how these discounts have changed over the past six years through both strong and weak market conditions. In addition, the report explains two key questions: how fluorescence affects a diamond’s appearance and whether it influences its color grade. It also considers whether GIA’s new report comments could change how buyers view fluorescent diamonds.
The report revisits a long-debated issue—does fluorescence really affect a diamond’s beauty, or are today’s concerns mainly based on old perceptions that continue to influence buying decisions?
According to GIA, around 25% to 35% of all diamonds show some level of fluorescence. Greater transparency about this significant segment of the market could help improve confidence among both consumers and the jewellery trade.
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