Editor’s Note
This article details the recent private auction of rough emeralds from Colombia’s Coscuez mine, highlighting the exclusive, international nature of the event.
This Monday marked the start of the seventh rough emerald auction organized by the mining company Fura Gems, responsible for extracting these precious stones from the Coscuez mine, located in the municipality of San Pablo de Borbur, in the western region of Boyacá.
The event, taking place in Bogotá, ran until Wednesday and was designed as a closed-door space, intended exclusively for national and international buyers interested in acquiring lots of emeralds from the aforementioned mine.
According to the company, this edition will feature the display of approximately 180,000 carats, selected from the recent production of Coscuez.
Subsequently, the auction will continue in a second stage, scheduled to take place in Bangkok, Thailand, between November 21 and 25. The division into two phases aims to broaden the event’s reach and capture the attention of a greater number of buyers in the Asian market, where there is high demand for precious stones.
Fura Gems has reported that, since the inception of this commercialization model, it has managed to sell over one million carats of emeralds, allowing it to establish itself as one of the main players in the global trade of this gem.
The auction strategy, as explained by the company, is based on presenting lots of rough emeralds classified according to characteristics such as size, clarity, and quality, which provides buyers with a detailed view of the properties of each piece before its transformation.
Gaurav Gupta, Chairman of the Board of Directors of Fura Gems, stated that the emeralds offered in this auction possess outstanding qualities in terms of color and transparency, making them highly competitive in the market.
Furthermore, Gupta emphasized the importance of this model for reinforcing traceability and transparency in the commercialization of gems, an aspect valued by both buyers and end consumers.
The Coscuez mine, from which the emeralds presented at the auction are extracted, has a long tradition in the production of these stones, considered among the most valued in the world due to their purity and tones.
Fura Gems has implemented extraction and classification practices that maximize the value of each extracted piece, highlighting its potential in the global precious stones market.
With this seventh auction, the company seeks to continue positioning itself as a reference in the industry and strengthen commercial relations with key sector players.
The development of the second phase in Thailand will be a strategic step to capture the attention of a constantly expanding market, characterized by high interest in Colombian-origin precious stones.
Upon concluding both stages of this auction, the company is expected to report positive results, reflecting the growing interest in Colombian emeralds as a high-value economic and cultural export product.