Gemfields Ruby Auction: Record $80.4 million


“Gemfields concluded a successful auction of mixed-quality rough rubies held from June 5th to June 20th, 2023,” so notes Solitaire Magazine, published by the Gem & Jewellery Export Promotion Council of India. “The auction yielded remarkable results, showcasing the strong demand and robust market for rubies.”

“The auction generated a substantial revenue of $80.4 million, indicating a 20% increase compared to Gemfields’ previous ruby auction in December 2022. Out of the 94 lots offered for sale, an impressive 91 lots were sold, reflecting a remarkable sales rate of 97%.”

“The auction achieved an average realised price of $265.99 per carat, emphasising the growing value and attractiveness of rubies in the market.”

Tap here to read the original feature in Solitaire Magazine by GJECP.

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