International News
Gemfields June ‘24 Rubies Auction nets $68.7mn
Gemfields is pleased to announce the results of a ruby auction comprised of mixed-quality rough rubies held during the period 3 to 18 June 2024.
Highlights:
- Total auction revenues of USD 68.7 million
- 94 of the 97 lots (comprising 217,044 carats) offered for sale were sold (97%)
- Average realised price of USD 316.95 per carat
- The 22 auctions of MRM gemstones held since June 2014 have now generated USD 1.12 billion in total revenue
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented: “This auction marks the 10th anniversary of Gemfields’ first auction in June 2014 of rubies from the Montepuez Ruby Mine in Mozambique. We are pleased to announce another strong result demonstrating the confidence that loyal customers have in our product offering and auction platform. While auction results should not be directly compared, our team is proud to have crossed the milestone of an average selling price of USD300 per carat at this auction.
While the industry is currently facing some headwinds, arising in part from a softening in China, we hope this result provides good comfort to other stakeholders in our sector. As always, our thanks and appreciation goes out to the hardworking team at MRM, our partners Mwiriti and the Government of Mozambique, whose support makes these results and achievements possible.”
The rough rubies were extracted by Montepuez Ruby Mining Limitada. The proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the Republic of Mozambique being paid on the full sales price achieved at the auction.
International News
Napoleon’s Lost Diamond Brooch from Battle of Waterloo to Be Auctioned in Geneva
A rare diamond brooch once owned by Napoleon Bonaparte — and believed to have been recovered from the aftermath of the Battle of Waterloo — is set to go under the hammer for the first time this November.
Far from the French crown jewels stolen from the Louvre this week, this historic piece carries its own dramatic past. According to Sotheby’s, the brooch was reportedly abandoned by Napoleon as he fled the battlefield following his 1815 defeat and was later claimed by the victorious King of Prussia. It will be offered at the Royal & Noble Jewels sale in Geneva on November 12.
Crafted in a Parisian atelier around 1810, the circular brooch features an oval diamond weighing over 13 carats at its centre, surrounded by nearly 100 old mine-cut diamonds of varied shapes. Likely worn on Napoleon’s iconic bicorne hat during formal occasions, it is estimated to fetch between $150,000 and $250,000, Sotheby’s told Bloomberg.
Initially presented as a spoil of war just days after Waterloo, the jewel remained within the House of Hohenzollern — the former German imperial dynasty — for generations. It passed from King Friedrich Wilhelm III to Kaiser Wilhelm II and later to his grandson Louis Ferdinand, Prince of Prussia, before entering a private collection in recent years.
As global markets waver, collectors are increasingly drawn to rare historical jewels as stable investments. Sotheby’s annual Royal & Noble auction celebrates such storied pieces, having previously sold a diamond necklace tied to Marie Antoinette for $4.8 million and, in 1987, the Duchess of Windsor’s jewellery collection for $50 million — six times its estimate.
Napoleon’s brooch will headline this year’s sale, alongside notable pieces such as a diamond ring once belonging to Ottoman princess Neslishah Sultan.
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