Gemfields recently held a highly successful auction for rough rubies sourced from Mozambique, achieving a remarkable total of $68.7 million. This auction, which took place in June 2024, not only highlights the strong market demand for quality rubies but also demonstrates the robust confidence in the gemstone market despite prevailing industry challenges.

The auction saw Gemfields attaining its highest-ever average price per carat for rubies, underscoring the continuing appeal and value of Mozambican rubies. This achievement is significant as it reflects both the quality of the gemstones offered and the effective marketing and sales strategies employed by Gemfields.

The impressive performance at this auction is indicative of the sustained global demand for high-quality coloured gemstones, which continues to drive market dynamics. This success is expected to further solidify Gemfields’ position as a leading player in the gemstone industry, particularly in the context of ruby trading.