【Zambia; Bang】Emerald Prices Climb at Gemfields Auction

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Editor’s Note

This article highlights a successful auction for Gemfields, with strong demand driving a $32 million sale of high-quality Zambian emeralds.

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Auction Results

Gemfields saw prices and demand increase at its latest auction of rough emeralds from the Kagem mine in Zambia.

The company generated $32 million from the sale of 38 lots, with 100% of stones finding buyers, the miner said Friday. The auction took place in Bangkok between August and September and comprised higher-quality rough emeralds, including the 11,685-carat Imboo stone the miner recovered last month.

Executive Commentary
“This September auction marks Kagem’s first high-quality emerald sale since the disappointing result in November 2024,” said Adrian Banks, managing director of product and sales at Gemfields. “Mining operations at Kagem were suspended in January 2025 in response to market uncertainty and challenges relating to the oversupply of Zambian emeralds. Following signs of recovery at the April commercial-quality auction, two mining points were reopened in May.”

Price and Volume Data

Gemfields sold 199,103 carats of emeralds at an average price of $161 per carat, up from $114 per carat in November of last year. Despite market challenges and the uncertainty surrounding US tariffs, the auction house reported a positive outcome, it said.

Historical Context

Since its launch in July 2009, Gemfields has held 52 auctions featuring emeralds from the Kagem mine, generating a total of $1.12 billion in revenue.

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⏰ Published on: September 14, 2025