SAMS Group Australia
advertisement
SAMS Group Australia
advertisement
SAMS Group Australia
advertisement
Goto your account
Search Stories by: 
and/or
 

News












Colour gemstone mining company Gemfields Group has reportedly set a new record for the sale of rubies. | Source: Gemfields
Colour gemstone mining company Gemfields Group has reportedly set a new record for the sale of rubies. | Source: Gemfields

Ruby record: Colour gemstone auctions hailed a success

Colour gemstone mining company Gemfields Group has reportedly set a new record for the sale of rubies.

The auctions, which took place in Thailand from 3-18 June, comprised mixed-quality rough gemstones, with 97 per cent of lots finding buyers.

The company achieved $USD68.7 million ($AUD103.5 million) from the sale of 94 lots from the Montepuez mine in Mozambique, with rubies selling at more than $USD300 ($AUD452) per carat for the first time.

Managing director of product and sales, Adrian Banks, said that while it was important to be mindful of context when comparing auction results, the outcome was positive regardless. 

Adrian Banks, Gemfield
Adrian Banks, Gemfield
"We are pleased to announce another strong result."
Adrian Banks, Gemfields Group

“We are pleased to announce another strong result,” Banks said.

“While auction results should not be directly compared, our team is proud to have crossed the milestone of an average selling price of $USD300 per carat at this auction.”

Gemfields sold 216,600 carats of rubies at an average price of $USD317 ($AUD477) per carat. An average of $USD290 ($AUD437) per carat was achieved at the previous ruby auction in November-December.

The company has recorded $USD1.12 billion ($AUD1.16 billion) across 22 Montepuez ruby auctions since 2014.

Former De Beers Group CEO and co-chair Bruce Cleaver was recently appointed chairman of Gemfield’s board of directors.

More reading
Former De Beers boss named Gemfields chair
Gemfields expected to set auction record for sale of emerald
How can I do 'good' and buy responsibly sourced jewellery?
Gemfields, Fabergé and the Responsible Jewellery Council
Mine to market: Evolution of the rough trade

 











Rapid Casting
advertisement





Read current issue

login to my account
Username: Password:
SAMS Group Australia
advertisement
Jeweller Magazine
advertisement
SAMS Group Australia
advertisement
© 2024 Befindan Media