Gemfields recorded revenues of $26.8 million from its latest auction of higher-quality rough emeralds, reflecting continued global demand for premium gemstones despite cautious market sentiment linked to geopolitical and economic uncertainty.
The auction, conducted between May 4 and May 21, 2026, achieved a strong 97% sell-through rate, with 36 out of 37 lots successfully sold.
Strong Results for Zambia-Mined Emeralds
A total of 185,135 carats of rough emeralds were offered during the auction, of which 183,385 carats were purchased. The sale achieved an average realised price of $146.08 per carat, highlighting resilient demand for high-grade emerald material.
The gemstones were sourced from the Kagem Mining Limited emerald mine in Zambia, one of the world’s leading emerald-producing operations. Prior to the bidding process, buyers inspected the lots in Bangkok before participating through Gemfields’ online sealed-bid auction platform.
Premium Emerald Segment Continues to Attract Buyers
Adrian Banks stated that demand for higher-quality emeralds remains relatively stable, particularly for exceptional stones that continue to attract competitive bidding.
However, he noted that the broader gemstone market is currently operating with greater caution due to ongoing geopolitical tensions and wider macroeconomic uncertainty affecting global luxury spending and trade sentiment.
Weak Indian Rupee Creates Additional Pressure
Gemfields also highlighted currency fluctuations as a growing concern for buyers, particularly in India, one of the world’s key gemstone trading and cutting centers.
According to the company, the Indian rupee has depreciated by approximately 10% against the U.S. dollar since Kagem’s previous premium emerald auction in September 2025. The weaker currency has increased purchasing costs for Indian buyers participating in dollar-denominated gemstone auctions.
Market Focus Remains on High-Value Gemstones
Despite economic headwinds, the latest auction results indicate that demand for rare and high-quality colored gemstones remains resilient at the upper end of the luxury market. Industry analysts say premium emeralds continue to command strong attention from manufacturers, collectors and luxury jewellery brands seeking exceptional material.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
