Gemfields Group has reported a slight increase in sales from its December ruby auction, driven by a higher average price and strong demand for the gemstone. At this year’s auction, the company sold 239,591 carats of ruby for a total of $69.5 million. This is compared to last year’s December auction, where 431,671 carats were sold for $66.8 million. Notably, all the offered carats at this year’s auction were successfully sold.
The average price per carat for the red gemstones saw a significant surge, reaching $290.02, in comparison to the previous year’s $154.84 per carat. These figures further reinforce the upward trend in ruby prices witnessed at Gemfields’ auctions over the past few years.
Adrian Banks, the Managing Director of Product and Sales, expressed his enthusiasm for the results, stating: “We’ve seen ruby prices at our auctions go from strength to strength in recent years and our final auction of 2023 has further endorsed that trend.” He also highlighted the healthy demand and pricing for rough rubies at this auction.
With the conclusion of the December auction, Gemfields’ total auction revenue for 2023 stands at an impressive $242 million, marking it as the second highest in the company’s history.