Gemfields recently held an auction of their higher-quality rough emeralds from November 14th to 17th. Taking place in Singapore, the total revenues amounted to $28.4 million, with the price per carat at an average of $68.03.
“The results of what was our first Singapore emerald auction in more than three years clearly reflect the emerging recovery among our trade customers after a protracted period of difficulty,” said Gemfields Managing Director of Product and Sales Adrian Banks according to National Jeweler. “The marked increases in the percentage of carats and number of lots sold, combined with the uptick in per carat price, bode well for further improvement in 2019.”
One particular gem that gathered a ton of attention was the Inkalamu. This 5,655-carat emerald eventually sold, having previously been uncovered in October at Kagem. The rough gemstone was purchased by Rajkumar and Rishabh Tongya of Dia-Color, a company based in India that specializes in fine jewelry featuring gemstones.