Tag Archives: ruby gemstone auction prices

Ruby sales record at Singapore auction set by Gemfields

The miner is currently a takeover target from Chinese and South African interests.

At the auction, held in Singapore, the company sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record.

Of the 83 lots offered, 78 were sold with an average realized price of $61.13 per carat, the miner said. Al the stones offered were extracted by Gemfields’ 75%-owned Montepuez Ruby Mining at the deposit of the same name in Mozambique.

Since June 2004, the gems producer has held eight auctions for precious stones mined at the Montepuez deposit.

Gemfields, which owns the luxury Fabergé jewellery brand, is the world’s biggest coloured gems producer, accounting for approximately a third of the world’s emeralds and rubies from two African mines in Mozambique and Zambia.

Henry Sapiecha