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Gemfields Sells 5,655-Carat Rough Emerald For Unspecified Price

Coloured  gemstone producer Gemfields said that its higher quality emerald rough auction in Singapore, which ran from November 14 to 17, realised $28.4 million from the sale of 20 lots, including the 5,655-carat Inkalamu or ‘Lion’ emerald, which was found on October 2 at the Gemfields majority-owned Kagem mine in Zambia.

The specific sale price of the Inkalamu emerald was not disclosed, but Gemfields said it was bought by Rajkumar and Rishabh Tongya of Dia-Color, who specialise in high-value gems. Gemfields said that in furthering its support of wildlife conservation, it is donating 10 percent of the proceeds from the sale of Inkalamu to its conservation partners, the Zambian Carnivore Programme and the Niassa Carnivore Project.

The Inkalamu emerald will deploy fully customised Gübelin ‘provenance proof’ nano-tagging, allowing the “descendants” of Inkalamu (or, as Gemfields put it, Inkalamu’s own ‘pride of lions’) to be traced directly to not only the mine of origin, but the gem of origin.

According to Gemfields, an improvement in liquidity within the gem-cutting community saw 74 percent of the 26 lots offered for sale being bought. This compares with the 56 percent that were bought at the last auction in May this year.

Gemfields said the average sale price of the November sale was $68.03 per carat, but it was not clear whether the average included the sale price of the Inkalamu.

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