Gemstar buys 2,000 ct. rough emerald at auction in Zambia
Ramat Gan, Israel, August 20, 2013 – At the auction of high quality rough emerald and beryl from the Kagem mine, held in July in Lusaka, Zambia, a single piece of emerald rough, weighing more than 2,000 carats, was bought by Avraham Eshed of Gemstar, Israel’s leading emerald manufacturer.
“The majority of the forty or so companies that were invited to participate in the July auction were from India, and they are very competitive buyers. We are therefore pleased to have won the bid for this extraordinary piece of emerald rough,” Eshed said.
From left: Lior Eshed (standing), Liran Eshed, Avraham Eshed, Gemfields CEO Ian Harebottle, First Lady Kristine Kaseba, Dr. Sixtus Mulenga and William Niyirenda. (Photo: Eddie Mwanaleza)
Zambia’s First Lady, Dr. Christine Kaseba, met with Avraham Eshed and his sons Lior and Liran during her tour of the high-quality emerald auction. She was accompanied by the Kagem director for the Zambian government Dr Sixtus Mulenga and Kagem board chairman Wiliam Nyirenda.
The recent auction, organized and held by Gemfields, resulted in revenues of $31.5 million. The average price per carat reached $54, and a 54-carat rough gem, offered as a single lot, reportedly set a record per carat price for a Gemfields auction.
A total of 583,448 carats of emerald originating from the Kagem mine were auctioned, with all lots reported sold. Eshed did not reveal the price paid for the 2,000-plus-carat-piece he acquired.