Gemfields Report

Gemfields auction results were interesting. They were able to sell 26 of 27 parcels of rough emeralds in London for US$5.9 million, an average of US$4.37 per carat. The 1.36 million carats offered in the auction represented the higher quality stones produced at Kagem, but only 5% of total production by volume. The only parcel that failed to reach its reserve price contained just over 3,000 carats for which Gemfields wanted US$300/carat. Great timing. www.gemfields.co.uk