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Zambian emeralds attain record price per carat at auction

25 November 2019

Zambian emerald


An auction of “higher-quality” rough Zambian emeralds broke records when the gems achieved a per-carat price of US$82.26, revealed gemstone specialist Gemfields. 

Total revenues from the sale, held from November 18 to 21 in Singapore, reached US$27.2 million, representing 33 lots sold out of the 38 that were offered. Gemfields said 48 companies placed bids. 

The emeralds were mined by Kagem Mining Ltd, where Gemfields has a 75 percent stake. 

Since July 2009, 34 Kagem auctions have been held, generating US$635 million in total revenues.

Adrian Banks, Gemfields’ managing director of Product & Sales, commented, “Kagem has realised US$79 million of auction revenues in 2019, the second‐best calendar year performance since the auction system was introduced a decade ago. The recovery being experienced by our auction customers appears to have a solid foundation, further evidenced by the 48 companies that placed bids, a record for any Gemfields emerald auction.” 

In another development, Gemfields recently partnered with London-based designer Ruth Tomlinson to offer a limited-edition emerald jewellery collection named Jardin.

The jewellery line features Gemfields’ emeralds, handpicked individually by Tomlinson for their unique, naturally occurring “garden of inclusions.”

“While I’m often drawn to stones with inclusions, or an unusual character or colour, I didn't anticipate finding something so unique with Gemfields. With the help of their team, I found just a few emeralds with the same included quality – the colour and the mysterious depth within really captivated me. When I find something so exceptional, it’s an instant connection,” remarked Tomlinson.

Adorned with diamonds, the collection comprises a trio set of statement drop earrings, a ring and a matching pendant necklace, noted the company.