London: Gemfields Group Limited announced that its latest commercial-quality emerald auction generated $29.6 million, with every lot sold and the average realized price rising sharply from its previous sale.

The auction, held between 24 August and 10 September, achieved $9.72 per carat, compared with $7.46 at the November-December 2025 auction. Total proceeds were also up from $25.4 million despite the volume sold falling to 3.05 million carats from 3.41 million.

All 44 lots offered were sold, giving Gemfields a 100% sell-through rate by both lots and weight. A total of 63 companies placed bids, compared with 55 at the previous commercial-quality auction.

Managing director of product and sales Adrian Banks said it had been nine months since the company’s last commercial-quality emerald sale and described the result as “robust”, adding that viewing activity in Jaipur had been intense.

The emeralds were produced by Kagem, Gemfields’ 75%-owned Zambian operation, with the remaining 25% held by Zambia’s Industrial Development Corporation. Proceeds will be fully repatriated to Kagem, with royalties paid to the Zambian government on the full sales prices achieved.