Gemfields recorded revenues of $26.8 million from its recent auction of higher-quality rough emeralds, highlighting continued resilience in demand for premium gemstones even as the broader market remains cautious.
The auction, which took place between 4 and 21 May 2026, achieved a strong sell-through performance, with 36 out of 37 lots successfully sold. Out of the 185,135 carats offered, buyers purchased 183,385 carats, resulting in a 97% sales rate and an average realised price of $146.08 per carat.
The emeralds originated from the Kagem mine in Zambia, one of the world’s most significant emerald-producing operations. Prior to bidding, clients viewed the stones in Bangkok before participating through Gemfields’ online sealed-bid platform.
According to the company, the strongest competition remained concentrated around top-grade emeralds, which continued to attract healthy pricing despite softer sentiment across parts of the gemstone market.
At the same time, broader economic uncertainty and geopolitical instability are influencing buyer behaviour, creating a more measured approach across trading activity. Currency fluctuations have also added pressure, particularly for Indian buyers, following a notable depreciation of the rupee against the US dollar since Kagem’s previous higher-quality emerald auction in September 2025.
The results indicate that while the market may be moving cautiously overall, demand for exceptional-quality coloured gemstones continues to remain comparatively stable.
