The auction generated record total revenues of USD 44.3 million at an average realised price of USD 29.21 per carat. Altogether 44 companies placed bids.
Of the 1,601,145 carats offered, 1,516,459 carats went down the hammer. On a quality for quality basis, the per carat prices achieved were indicative of improved overall global demand when compared to previous auctions. Although, the company mentioned that given the quality mix offered at this auction comprising a blend of varying qualities and sizes of material, a direct comparison with previous auction results is not possible.
The proceeds of this auction will be repatriated to Montepuez Ruby Mining Limitada in Mozambique, with the royalties due to the Government of Mozambique being paid on the full sales price achieved at the auction. The six Montepuez auctions held since June 2014 have generated USD 195.1 million in aggregate revenues.
Ian Harebottle, CEO of Gemfields, spoke of the sixth auction noting that, “The prices achieved and the high percentage of goods sold fully support our analysis of the market conditions, the quality of Mozambique's rubies and the increasing levels of demand across various markets and categories.” He further elucidated the efforts of the company in building the coloured gemstone sector by the launch of a new global marketing campaign focussing on Mozambican rubies; which the auction attendees were briefed about. The campaign will launch in London on the 22nd June.”
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