Gemfields has announced that its latest higher-quality emerald auction brought in $26.8 million. It was 97 percent sold by lot, with 36 of the 37 lots offered finding buyers, and 99 percent sold by weight.

The average price per carat was $146.08.

“This auction result demonstrates that, while demand for higher-quality emeralds remains stable, the market is presently exercising a degree of caution, influenced by ongoing geopolitical tensions and prevailing macroeconomic uncertainty,” said Adrian Banks, Gemfields’ managing director of product and sales.

Banks continued, “Competition and pricing for the top-tier emeralds remained particularly strong, reflecting the rarity and continued desirability of exceptional gems.”

He also noted that the volatility of the Indian rupee has created “an additional headwind” for many customers. The currency depreciated by approximately 10 percent against the U.S. dollar since Gemfields’ higher-quality emerald auction in September 2025, Banks said. The rough emeralds were mined at Kagem, which is 75 percent owned by Gemfields and 25 percent by the Industrial Development Corporation of Zambia.

The auction was held May 4 to 21, taking place via an online auction platform specifically adapted for the miner that permits customers from multiple jurisdictions to participate in a sealed-bid process.

Prior to the sale, the auction lots were made available for private in-person viewings by customers in Bangkok.