18 Nov 2019
DiamondWorld Directory
Home |
News
Home
Gemfields sets records with USD 7.2 million sale at rough emerald and beryl auction
It was largest auction for Gemfields in terms of sales, and weight of gemstones sold
By: Diamond World News Service
|
Mar 19 2010 5:19PM
|
Reference: 4774  

DecreaseIncrease

Gemfields PLC had organised its first rough emerald and beryl auction for this year, in Jaipur, India, between 11-15 March 2010, and the auction has turned out to be a record breaking event for the company. The auction was orchestrated by Gemfields’ Product Director Adrian Banks.

Altogether 28.9 million carats of principally lower quality rough emeralds and beryl were offered in 56 separate lots at the auction. This was the largest auction for Gemfields in terms of sales realised and weight of the gemstones sold. Also, the sales figures at the auction amounted to USD 7.2 million, with 89 percent (by value) of material sold, which was also considered a world record in terms of the volume of Zambian emerald and beryl on offer by weight (with 5.78 tonnes of material on offer). Twenty-five companies from India attended the auction, which indicated a healthy consumer participation and product demand, underlining the strengthening of the emerald market.

Ian Harebottle, CEO of Gemfields, commented: “Gemfields is pleased to have delivered a successful auction at the start of the Indian IPL cricket season, demonstrating that the emerald pipeline from Zambia through to the end consumer is showing a steady increase in demand. Jaipur marked our first low grade auction and the improvement in market sentiment was palpable. We were particularly pleased to further cement our relationships with our various customers, laying the path for Zambian emeralds to take the lead in the supply of ethical gemstones of guaranteed provenance. The popularity of Zambian emeralds was reinforced by the bespoke 46664 Nelson Mandela bracelet worn by Morgan Freeman at last week’s Oscars.”

Gemfields sets undisclosed reserve prices for each lot in advance of its auctions where participation is by invitation only. Gemfields has undertaken marketing efforts to promote the Zambian emeralds, which has even resulted in celebrities like Morgan Freeman wearing them at the Academy Awards in bespoke Nelson Mandela “46664” bracelets.

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Advertisement
HouseAd_Trade Fair
Search News by City
Advertisement
HouseAd_Trade Fair
Recent Issue
2019
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 21700
GJEPC Chairman Interview
Views: 19681
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 26759
Promo for IJ Awards 2012 at NDTV Profit
Views: 39870
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 43510
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 16807
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 41530
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 39237
Advertisement
Finestar Diamonds
Advertisement
M.Tarun
Member of:
Supporter of: