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Gemfields Sells 5,655ct. Emerald at Auction

Gemfields sold a 5,655-carat emerald to Indian gemstone specialist Dia-Color for an undisclosed amount, says Rapaport.

The Inkalamu, or Lion Emerald, was found by Gemfields at its Kagem mine in Zambialast week. Their Singapore auction offered 26 lots of 420,000 carats of rough Kagem emeralds that fetched a combined $28.4 which amounts to an average price of $68 per carat.
40 companies placed bids, 77% of lots sold.

“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 Adrian Banks, Gemfields’ managing director of products and sales. “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.”

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Source: Rapaport