Gemfields is proud to introduce the Rose of Mozambique – a rare, high quality ruby sold at auction in Singapore to Bangkok’s preeminent gem specialist Sant, now cut and polished to reveal its true beauty.
Sant’s ruby cutters have an artisan’s skill with the steel saws, careful placing of the stone on the dop stick, critical in ensuring the coarse and fine spinning wheels slice tiny wafers in a way that enhances the rubies final bright facets. In the process, the rough 12.24 carat gem was cut and polished into the Rose of Mozambique – which weighs in at 7.67 carats.
Gemfields first sent gemstones to Singapore auctions in 2014 and, since then, Mozambique has taken over from Myanmar as the source of most of the rubies found in Thailand gem markets – the global hub for ruby trading.
“Before Mozambique, very few fine quality, larger rubies had been discovered,” explains Adrian Banks, Gemfields product and sales director. “Our secondary deposit produces very high-quality rubies – among the best in the world. These gems have travelled along a river bed over millions of years to this site and so only the best quality ones have survived the motion of water. Since 2014, Gemfields has auctioned some unusually large sizes and exceptional rubies such as Dragon Eye and Rhino rubies – and now the Rose of Mozambique.”
Gemfields’ eleventh auction of rough rubies from Montepuez saw 51 companies placing bids. The auction offered high, medium and commercial grade rough rubies exclusively in untreated form. The consistency of supply and the reliability of the Gemfields’ grading system continues to be well received by buyers given that it reduces risk, improves manufacturing efficiencies and aids their ability to meet demand for larger orders.
The auction generated total revenues of USD 55.3 million at an average realised price of USD 84.32 per carat. The proceeds of this auction will be fully repatriated to MRM in Mozambique, with the production tax due to the Government of Mozambique being paid on the full sales price achieved at the auction.