RAPAPORT… Gemfields recorded record revenue of $71.8 million at its June ruby auction in Singapore, the
colored-gemstone supplier said Monday.
The miner sold
588,656 carats of rough, untreated rubies from the Montepuez mine in Mozambique, at an average price of $122 per carat, with 95% of lots finding buyers.
“The health of
market demand for Mozambican rubies…is amply demonstrated by these
record-breaking auction results,” said Sean Gilbertson, CEO of Gemfields and its parent company, Pallinghurst Resources.
The June 5 to 9
auction was the company’s 10th rough-ruby sale since 2014.
Gemfields Sells $72M at Record Auction
The Bottom Line
- Gemfields sold 588,656 carats of rough, untreated rubies from Mozambique at an average price of $122 per carat.
- The auction held June 5-9 in Singapore generated $71.8 million in revenue, a company record.
- Ninety-five percent of lots were sold, marking the 10th rough-ruby auction since 2014.
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