Gemfields fetches almost $69 million at ruby auction

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Gemfields fetches almost $69 million at ruby auction
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Coloured gemstones miner Gemfields said on Wednesday it sold almost $69 million of mixed-quality rubies at its June auction, with 97% of the offering gone.

“While auction results should not be directly compared, our team is proud to have crossed the milestone of an average selling price of $300 per carat at this auction.,” Adrian Banks, Gemfields’ MD of product and sales, said in Gemfields believes the coloured gemstone market is relatively safe from the emergence of lab-grown alternatives, as man-made rubies and emeralds have existed for more than 120 years.

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