Gemfields has announced on 16 June 2025 the results of its recent auction which was held between 2 and 13 June 2025 in Bangkok. The sale, being the smallest mixed-quality auction to date for Gemfields, garnered $31.7 million total revenue.
A total of 99,830 carats of rubies were offered for sale with 68,705 carats sold at average sales price of $461.48 per carat. The auction included rubies from a newer area of Montepuez Ruby Mining (MRM) which previously hasn’t been represented at auction in meaningful quantities, including a notable 36-carat ruby which sold well, becoming the third-most-valuable single-gemstone lot in MRM’s history.
Adrian Banks, Gemfields’ managing director of product & sales, commented: “While this was our smallest mixed-quality ruby offering by weight to date, and there is clearly ongoing instability in the market stemming from, inter alia, ongoing geo-political turbulence, China’s economic difficulties and considerable tariff uncertainty, today’s auction result demonstrated the resilience of rubies in turbulent times. Demand and pricing for fine-quality rubies remain strong. Notably, the secondary-type rubies recently recovered from a newer section of the mine, exhibiting different characteristics, were generally well received by auction customers.”
The proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the Republic of Mozambique being paid on the full sales prices achieved at the auction.
The auction lots were made available in Bangkok for private, in-person viewings by customers. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed- bid process.
According to Banks, the auction is a particularly promising development as MRM advances towards the completion of Processing Plant 2, enhancing its ability to deliver a consistent and diversified supply of Mozambican rubies to meet the evolving demands of the market. (Photo courtesy: Gemfields)
24-06-2025
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