Auction Results: Mixed-quality Rubies
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Date12 Dec 2024
Gemfields announces the results of an auction comprised of mixed-quality rough ruby held during the period 25 November – 11 December 2024. Highlights: December 2024 Mixed-Quality Ruby Auction Total auction revenues of USD 46.2 million. 97 of the 102 lots offered for sale (comprising 167,865 carats) were sold (95%). A lower quantity of ‘premium’ rubies on offer was the key driver of the lower auction revenues. Average price per carat reached a record high for our mixed-quality ruby auctions, while observing some softer prices and thinner bidding. Mining operations in Mozambique remain unaffected by ongoing civil unrest following the contested election.