Gemfields Group Limited has shared the results of its most recent mixed-quality rough ruby auction, which took place from November 25 to December 11, 2024.
The event generated $46.2 million in revenue, with 97 of the 102 available lots (totaling 167,865 carats) successfully sold, achieving a 95% success rate. While the revenue was lower compared to previous auctions, this was attributed to a reduced volume of premium rubies on offer. Notably, the average price per carat reached an all-time high of $321.94 for mixed-quality ruby sales by Gemfields.
The company noted lighter-than-usual bidding activity, accompanied by some softer price trends. However, new participants with established supply chains performed well at the auction.
Adrian Banks, Managing Director of Product & Sales at Gemfields, remarked: “In light of ongoing economic challenges in China and global geopolitical uncertainties, this auction outcome is encouraging under the prevailing market conditions. The results underscore the steady demand for Gemfields’ rubies, with fine-quality prices reflecting the limited availability of these rare gemstones.”
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