Gemfields garnered $31.7 million at its recent ruby sale, despite being the smallest mixed-quality auction to date.
The company sold 87% of the lots on offer from its Montepuez mine between June 2 and 13, it said Monday. The event, which took place in Bangkok, included mixed-quality rough rubies from a newer section of its Mozambique deposit.
“While this was our smallest mixed-quality ruby offering by weight to date, and there is clearly ongoing instability in the market stemming from, inter alia, ongoing geopolitical turbulence, China’s economic difficulties and considerable tariff uncertainty, today’s auction result demonstrated the resilience of rubies in turbulent times,” said Adrian Banks, managing director of product and sales at Gemfields.
Gemfields sold 68,705 carats of rubies at an average price of $461 per carat, up from $322 per carat at its previous ruby auction in December 2024.
The auction house also offered a 36-carat ruby, which it recovered from the new mining section. The stone is the third most valuable from the Montepuez mine ever sold.
Image: The 36-carat ruby. (Gemfields)
