Gemfields makes $25.4 million at year-end emerald auction
Gemfields generated USD 25.4 million in total revenue from the auction of commercial-quality rough emerald in the period 17 November – 4 December 2025.
Highlights:
- 46 lots were offered for sale and 45 were sold (98%)
- Average price of USD 7.46 per carat
- The 53 auctions of Kagem gemstones held since July 2009 have generated USD 1.147 billion in total revenues
The specific auction mix and the quality of the lots offered at each auction vary in characteristics such as size, colour and clarity on account of variations in mined production and market demand. Therefore, the results of each auction are not always directly comparable.
Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented:
“The auction results mark a successful conclusion to a challenging year for Kagem. Following the temporary suspension of mining operations during the first half, the business has nonetheless delivered a strong performance for 2025, culminating in this auction’s solid contribution to USD 79 million of total Kagem auction revenues for 2025. The firm pricing seen across all quality categories demonstrates that the pressures experienced at the end of 2024 and early 2025 have largely subsided. Market sentiment has strengthened and the sustained demand observed since the third quarter of 2025 continues to underpin robust performance. We extend our appreciation to the Kagem team for their continued hard work and extend our thanks also to the Industrial Development Corporation of Zambia, Kagem’s 25% shareholder.”
The auction lots were made available for private, in-person viewings by customers in Jaipur, India. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permits customers from multiple jurisdictions to participate in a sealed- bid process.
