Gemfields Boasts Revenues of $28.8 Million at Singapore Ruby Auction

It was the fifth auction featuring stones from the company’s Montepuez deposit

Gemfields has released the results of its December rough ruby auction in Singapore.

The sale featured higher and medium qualities of rough rubies from the Montepuez ruby deposit in Mozambique. Both treated and untreated lots were available, with sizing and quality offering decisions spurred by customer demand, according to the company. 

Highlights of the sale:

—Total auction revenues of $28.8 million

—Average per ct. price: $317.92

—90,642 total cts. sold

—36 companies placed bids

“Given that the quality mix offered at this auction comprised a new blend of both higher and medium quality rubies, the results cannot be directly compared with prior Gemfields auctions,” said a statement from Gemfields. “On a quality-for-quality basis, however, the per carat prices achieved remained broadly consistent with those achieved at previous auctions.”