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Our Auctions

Introduction

Before Gemfields, coloured gemstone auctions were often haphazard and irregular, with gems of variable quality and size bundled up together. Buyers had to spend months and even years building up sets of gems to make jewellery suites.

Gemfields’ ground-breaking proprietary auction process was introduced in 2009, bringing consistency and transparency to the international supply of rubies and emeralds. Before each closed auction, rough gemstones are consistently sorted and graded by colour, size and clarity, so buyers can trust and purchase the product ranges that suit their needs.

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Upholding the company’s values of transparency, integrity and legitimacy, the auction platform provides unparalleled visibility to customers, known as auction partners, and government officials, who are given full sight of the sales process and see more of the value from their coloured gemstone resources than ever before.

 

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How Gemfields changed the industry for the better

1

Gemfields voluntarily pioneered the practice of inviting government representatives from the country of origin to seal up the gems before export (or local auction) and to then monitor the entire overseas (or local) auction process in person to ensure full transparency.

2

Gemfields voluntarily pioneered the practice of repatriating 100% of the value of the gems sold at auction to the mining company in the country of origin to ensure the full value flows back to the host country.

3

For the first time, countries are receiving proper participation in their coloured gemstone resources and full tax payments based on the transparently reported revenues at full gemstone value.

*Of the circa USD 1.2 billion of total Gemfields auction revenue from 2009–2020 (across both Kagem and MRM), some USD 251 million (20.4% of revenue) has been paid in corporation tax and mineral royalty to the governments of Mozambique and Zambia. We are not aware of examples from any time in our industry’s history where values of that magnitude have been contributed to host nations.

The Gemfields Auction Process

The Process
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1

Sorting and Grading

Before each auction, the rough gemstones are sorted and graded by colour, size, shape and clarity. The specific mix and quality composition of the lots can vary considerably. Auctions typically take place in Bangkok.

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2

Greater transparency

Government representatives from the gemstones’ home country seal up the gems before export and travel with them to the auction, ensuring that the seals remain in place. They are given full transparency throughout the auction, so there is no question that revenues are accurately reported.

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3

Approved bidders

Every bidder, (known as an auction partners) at Gemfields’ closed auctions is vetted to ensure that they share the same values around responsible practice before they are invited to attend. Auction partners come from across the world, with strong representation from India and Thailand and a growing interest in rough coloured gemstones from China.

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4

Bidding

Once the auction begins, prospective buyers can examine the gemstones on offer – from rare one-offs through to high-, medium- and commercial-grade rough gems in untreated packets – before placing a closed bid. Sold premium lots are often cut and polished by the winning bidder, before being sold on to jewellery houses and designers.

The consistency and reliability of Gemfields’ grading system results in higher prices, thus bringing greater value to the gemstones’ countries of origin.

 

People often forget that the well-known laws of supply and demand apply to “efficient markets”, a term that cannot yet be used for the coloured gemstone sector. Over the last decade,  gemstone production at Gemfields’ Kagem emerald mine has tripled while the prices received have increased more than six-fold.

The proceeds from every auction are fully repatriated to the Montepuez ruby mine ruby mine in Mozambique and Kagem emerald mine in Zambia, with taxes due to the respective governments paid on the full sales price achieved at the auction.

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Our Authorised Auction Partners

Gemfields is lucky enough to have trusted auction partners all over the world. Each one listed below is fully authorised, upholds our core values of transparency, integrity and legitimacy and shares our concern for responsible practices.

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  • anubhav gems pvt ltd

    Third generation emerald cutter and dealer

  • anubhav gems pvt ltd

    Third generation emerald cutter and dealer

  • arham gems

    Cutter and supplier of fine quality emeralds

  • ashok jewellers

    Manufacturer of emeralds and fine colour gemstones since 1976. Highest Export Award for colour gemstones by Govt of India

  • aziz enterprises

    Fourth generation supplier of emeralds, since 1965

  • bupataksin gems co ltd

    Cutter and supplier of fine quality rubies

  • bupataksin gems co ltd

    Cutter and supplier of fine quality rubies

  • chatree gems co. ltd

    Supplier of medium to fine quality rubies and fine quality emeralds

  • chordia gems pvt ltd

    Manufacturer and wholesaler of emeralds.

  • cien co ltd

    Fine quality gemstones

  • crest gem co., ltd.

    Cutter and supplier of fine gemstones

  • dhadda exports

    Manufacturer and wholesaler of emeralds.

  • dhandia gems corporation

    Sixth generation emerald and ruby cutter and polisher, since 1919

  • ding dang gem ltd

    Manufacturer and wholesaler of Zambian emeralds.

  • empreus gems

    Wholesale and trading of fine quality emeralds and semi-precious gemstones stones since 1995.

  • fine emerald inc

    Supplier of quality coloured gemstones

  • fine emerald inc. d/b/a fei

    Supplier of quality coloured gemstones

  • fine gems collection co., ltd

    Supplier and manufacturers of rubies and sapphires since 1992

  • garaude sas

    Cutter and supplier of rubies and emeralds of the finest quality.

  • gem paradise

    Established in 1989 and ranking amongst Sri Lanka’s top gemstone exporters since 2003

  • gemburi co ltd

    Supplier of fine quality rubies

  • gemcraft international private limited

    Manufacturer and wholesaler of fine quality Zambian emeralds.

  • gemdiam

    Manufacturer, importer and exporter of precious and semi-precious stones

  • gems & jewels

    Manufacturer and supplier of fine quality rubies for two decades

  • gems fine co ltd

    Supplier of fine quality emeralds, rubies and sapphires

  • gemstar ltd

    Diamond and emerald manufacturer and supplier

  • green gems

    Diamond and emerald manufacturer and supplier

  • green international

    Cutter and supplier of Zambian emeralds in medium and high ranges for over 40 years

  • heeralal chhaganlal tank

    Sixth generation cutter and supplier of gem quality coloured gemstones

  • hmv gems

    Since 1995, cutter and supplier of emeralds in all grades and ranges

  • hong kong hopewell int’l supply chain company ltd.

    Cutter and supplier of rubies and sapphires

  • jaipur emerald pvt ltd

    Cutter and supplier of medium to fine quality emeralds of all sizes

  • k sunil narnoli

    Third generation supplier of fine and commercial quality emeralds.

  • k.v.gems

    Supplier of fine quality unheated rubies, sapphires and spinel

  • kedia gem impex

    Cutter and supplier of precious and semi-precious gemstones

  • kgk gems (hk) limited

    Cutter and supplier of coloured gemstones, diamonds and jewellery

  • kgk gems (sezunit)

    Since 2011, cutter and supplier of coloured gemstones and fine quality emeralds

  • kk gems trading co.

    Since 1988, cutter and supplier of coloured gemstones and fine quality emeralds, rubies and sapphires

  • ko thai impex co. ltd

    Cutter and supplier of rubies

  • m.r. international

    Cutter and supplier of fine quality emeralds for over 30 years

  • malinee gems

    Cutter and supplier of fine quality rubies

  • mantri gems

    Manufacturer and exporter since 1988

  • mava gems

    Manufacturer of fine quality emeralds since 1973

  • meenal gems

    Cutter and supplier of fine quality calibrated emeralds and tanzanites for over 20 years

  • milin triple b co, ltd

    Wholesale and retail of fine quality rubies and sapphires.

  • multi world gems manufactory co ltd

    Cutter and supplier of commercial and fine quality rubies

  • nakshatra gems

    Supplier of fine quality emeralds since 2006

  • narnoli emerald

    Third generation emerald cutter and dealer

  • payal impex

    Cutter and supplier of commercial quality emeralds, rubies and sapphires for over 30 years

  • peninsula precious trading co ltd

    Cutter and supplier of fine quality gemstones

  • pk gems and gold co ltd

    Cutter and supplier of rubies for over 40 years

  • premacut ltd

    Cutter and supplier of gemstones

  • premier gems

    Cutter and supplier of commercial and fine quality emeralds for over 20 years

  • rajender gems

    Cutter and supplier of fine Zambian emeralds

  • real gems inc.

    Cutter and supplier of emeralds since 1975

  • rp international

    Third generation cutter and supplier of fine quality emeralds.

  • rr stones trading co ltd

    Cutter and supplier of rubies

  • sant entreprises

    Supplier of fine quality rubies and sapphires since 1963

  • shreenath gems

    Supplier of commercial quality Mozambican rubies.

  • sparkle gems ltd

    Supplier of emeralds

  • star lanka co ltd

    Supplier of fine quality rubies and gemstones since 1985

  • sukhadia stones co ltd

    Supplier of fine quality rubies and sapphires

  • sumangal emeralds

    Supplier of fine quality emeralds

  • sung gems co ltd

    Cutter and supplier of gemstones

  • trillion emerald inc.

    Cutter and supplier of fine quality emeralds

  • veerasak gems co ltd

    Supplier of fine quality rubies and coloured gemstones for over 30 years

  • world corundum co., ltd.

    Manufacturer and wholesaler of rubies.

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