Gemfields has concluded its latest ruby auction in Bangkok with $31.7 million in total sales, even as global market sentiment remains cautious.
The sale, held from June 2 to 13, featured rough rubies from the Montepuez mine in Mozambique, including material from a newer part of the deposit.
Although this was Gemfields’ smallest offering of mixed-quality rubies by weight, the auction still saw 87 percent of lots sold. The average price reached $461 per carat—an increase from $322 per carat at the company’s December 2024 ruby sale.
A highlight of the offering was a standout 36-carat ruby from the new mining zone, now ranked among the three most valuable stones ever unearthed at Montepuez. Despite broader geopolitical and economic uncertainty, demand for rubies appears steady, particularly for exceptional quality goods.