Editor’s Note
This article details Gemfields’ successful $32 million auction of Zambian emeralds, highlighting the sale of the record-breaking Imboo gem. While the total revenue and average price per carat are reported, the specific buyer and price for the headline stone remain undisclosed.
Gemfields raised US$32 million in its most recent auction of high-quality rough emeralds from the Kagem mine in Zambia, where it holds a 75% stake.
Between August 25 and September 11, all 38 lots on offer were sold, achieving an average price of US$160.78 per carat.
The sale included the Imboo gem, an 11,685-carat crystal considered the largest stone recently found at the operation. However, the company did not disclose the buyer or the price achieved for this exceptional piece.
Adrian Banks, Gemfields’ Managing Director of Product and Sales, noted that this result marks a rebound following the disappointing performance in November 2024.
The auction was conducted in a hybrid format, combining private viewings in Bangkok with the company’s digital platform, designed to allow sealed bids from clients in different jurisdictions.
With this result, the Kagem mine has now held 52 auctions since July 2009, with cumulative revenues exceeding US$1.12 billion.
This milestone confirms the operation’s relevance as one of the world’s leading emerald producers and reinforces Gemfields’ position in the international gemstone market.