The $24.8 Million Emerald Auctioned by Grizzly Mining
Emeralds continue to captivate the world of high jewelry, and this time, a 6,620-carat stone stole the spotlight in one of the most impressive auctions of the year so far.
The gem—a spectacular rough emerald from Zambia—was the centerpiece of Grizzly Mining’s recent auction held in the United Arab Emirates, reaching a total result of $24.8 million.
In this article, we’ll tell you where the event took place, what the highest bid was, and how we at Emerald By Love have experienced the various auctions we've taken part in.
Who is Grizzly Mining and What Do They Do?
Grizzly Mining is one of the leading emerald mining companies in Zambia. Founded in 1997, it has become a key player in the extraction of African gemstones, particularly rough emeralds.
The company regularly organizes auctions where it offers lots of rough emeralds to international traders, cutters, and jewelers.
The Dubai Auction: A Resounding Success
Grizzly Mining recently made headlines for holding a major auction of its Zambian emerald production in Dubai, reaching a total value of $24.8 million.
In total, 112 lots were offered and 105 were sold, amounting to 1.5 million carats of medium- to high-quality rough emeralds. Among the standout pieces was an exceptional 6,620-carat emerald known as the Pilala Stone, which drew attention for its transparency and deep color. This gem was acquired by Indian company KBK Gemstones.
The auction welcomed 123 buyers from Europe, Asia, and Africa, and also featured an online bidding format.
And What About Colombia? Emerald By Love and the Value of Colombian Emeralds
While Zambia shines with large emeralds like the one auctioned by Grizzly, Colombia remains the birthplace of the most beautiful emeralds on the planet, renowned for their purity, color, and clarity.
At Emerald By Love, we’re keeping pace with our 100% Colombian emeralds as we prepare to participate in future auctions and major international showcases. If you want to be part of this journey, visit us or get in touch and become a part of Colombian emerald history.
Paula A. Bonilla
Social communicator and journalist from Sergio Arboleda University in Colombia. Passionate about continually learning about precious gems and national high jewelry.
She currently works for one of Bogotá’s most important jewelry houses, Emerald by Love, which boasts over 40 years of experience and two physical stores located in the heart of Colombia’s capital.
