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Gemfields next emerald auction will take place in March, and will consist mainly of higher-quality rough.



  Gemfields reports $11 million worth of Zambian emeralds sold at latest auction


January 9, 2012


Gemfields, the London-based corporation which is today one of the world's largest emerald distributors, has reported that its most recent auction of rough emeralds and beryl from the Kagem emerald mine in Zambia produced sales worth $11 million. The auction was held between November 21 and 25.

At the November auction, Gemfields has offered 2.1 tons for sale of which 1.9 tons were sold. Thirty-eight companies were invited to participate in the auction and 27 of these placed bids.

According to Gemfields, the average per carat increased by 46 percent to $1.12 in November, compared to the auction conducted by the company last March, when a per-carat average of 77 cents was registered.

"With each auction it becomes increasingly clear that our team and our industry partners are making significant progress in delivering on our vision of ensuring that colored gemstones take their place alongside diamonds and other luxury goods,'' said Ian Harebottle, Gemfields' CEO.

Harebottle reported that Gemfields has generated sales of $42.6 million from two auctions during the current financial year, exceeding last year's annual revenue by $2.4 million.

The company will conduct a rough emerald auction in March, consisting of predominantly higher-quality rough.

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