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.

Published

1 year ago

February 25, 2025

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.

Related Topics:2025 Gemfields Gemfields Generates $4.8 Million from Mini-Auction of Higher-Quality Emeralds internationalnews

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International News

GJEPC Steps Up UK Outreach Ahead Of IIJS Bharat Premiere 2026

GJEPC Visited Major Jewellery Trading Hubs, Meeting 20+ Jewellery Retailers and Wholesalers Through In-Person Interactions

Published

9 hours ago

July 22, 2026

JewelBuzz Spread The Buzz

GJEPC intensified its promotional efforts in the United Kingdom ahead of IIJS Bharat Premiere 2026 through a week-long outreach programme in London that combined direct retailer engagement with the 2nd India-UK Jewellery Buyer-Seller Meet (BSM). The initiative was held from 6 to 10 July 2026 and aimed to attract more UK buyers while strengthening trade ties following the India-UK Free Trade Agreement.

As part of the campaign, Gaurang Vora, Manager, GJEPC, visited major jewellery trading hubs including Green Street, Southall and Wembley, meeting 20+ jewellery retailers and wholesalers through in-person interactions. He promoted IIJS Bharat Premiere 2026, distributed event information and registration details, and gathered market feedback on sourcing requirements and buying trends.

Based on feedback from UK buyers, the 2nd India-UK Jewellery Buyer-Seller Meet generated strong demand for 22-karat gold jewellery, diamond jewellery, lightweight designs, lab-grown diamond jewellery and silver jewellery. Buyers also expressed interest in sourcing from reliable, export-oriented Indian manufacturers and suggested that suppliers offer smaller minimum order quantities to better meet the needs of independent retailers.

The campaign generated new buyer enquiries, strengthened relationships with existing trade partners and provided GJEPC with market intelligence on consumer preferences and sourcing trends. The Council plans to continue engaging with buyers, assist with IIJS Bharat Premiere registrations and facilitate introductions between overseas buyers and Indian manufacturers.