FOR IMMEDIATE RELEASE
NOVEMBER 03 2021
Zambian emeralds set centre-stage by leading international auction house
Treasures of Zambia: An Exceptional Emerald Collection was privately curated. Its collector offers glimpses into how he selected such fine gemstones, explains what attracted him to Zambian emeralds and imparts advice to those looking to buy an emerald of their own.
The largest collection of Zambian emeralds ever to be offered at auction will go on sale this month, with part of the proceeds contributing to the Gemfields Foundation that supports community and conservation projects in Africa.
The Treasures of Zambia: An Exceptional Emerald Collection comprises over 45 lots; including 993 carats of breath-taking fine Zambian emeralds being offered by renowned international auction house Phillips and promoted by Gemfields, which owns the Kagem emerald mine in partnership with the Zambian government’s Industrial Development Corporation (IDC).
Phillips is renowned as a dynamic and forward-thinking auction house. It features some of the world’s most important twentieth-century and contemporary works of art, design jewels, watches, photographs and editions. The auction house is set to exhibit Treasures of Zambia: An Exceptional Emerald Collection, with bidding open from 23 November until 2 December 2021, and part of the proceeds pledged to benefit Zambian projects undertaken by the Gemfields Foundation.
Zambian emeralds make rare appearances at auction. They were discovered more recently than their Colombian counterparts but are far older in formation. The majority of the fine gemstones we see today remained unearthed until the 1970’s. It is perhaps for this reason that Colombian emeralds have commanded a premium, for it certainly cannot be said that Zambian emeralds are inferior in quality. On the contrary, their composition lends itself to superior levels of clarity and size and a distinctive vivid bluish green colour, which adds to the overall depth of the gem. Examples originating from Gemfields’ Kagem mine in Zambia have been seen to demonstrate the very best that nature can offer.
The collector of the Zambian emeralds offered to auction by Phillips shares his perspective on the collection: “A close friend from Europe, a collector himself, once asked me how I ended up with such a large collection of Zambian emeralds, when most collectors would seek to buy Colombian emeralds? My response was that it was only a matter of time before the value of top-quality Zambian emeralds would come to be appreciated, and indeed we have seen that happening and accelerating in the recent years. To certain collectors and gem connoisseurs, top quality Zambian emeralds are now considered to be held in equal esteem to those of Colombian origin. History has also shown and taught us that evolution is a natural and progressive process. For instance, the most historical and invariably the most sought-after sapphires were from Kashmir. However, that changed over the years and collecting broadened to Burma (now Myanmar) and Ceylon (now Sri Lanka). The same can be said for natural Burmese rubies, which arerare to find these days, but over the lastseveral years, the focus has turned to fine gem-quality sources from Madagascar, Mozambique and Thailand.
On a personal level, I draw my collecting to my penchant for cigars and fine wines. My preferences have expanded over time and I have grown to appreciate diverse choices as they have emerged and evolved. This is how I see the curation of my collecting life.”
The collector refers to the process of gathering this exceptional collection as “an unforgettable part” of his life, and these Zambian treasures will leave behind a legacy, as the collector has pledged that part of the proceeds from the sale of the collection will benefit the Gemfields Foundation – the charitable arm of Gemfields that supports community and conservation projects in Africa. Phillips has generously pledged to match this sum, enabling an even greater positive impact.
Launched in January 2021, the Gemfields Foundation is a UK-registered charity that funnels 100% of donor funds directly towards community and conservation projects Africa. Administrative overheads are taken care of by Gemfields Limited. The Foundation runs several Community and conservation projection around the mine areas and enablers on the ground are provided by Gemfields’ mining operations, meaning donations are able to go a long way, and quickly.
The Foundation was formed after a decade of carrying out projects in the vicinity of Gemfields’ mining operations in Africa, including several that have been privately funded by guests to these sites. A key Gemfields tenet is that Africa’s gemstone wealth must contribute meaningfully not only to the host-country economies, but also to the host communities and their next generations by way of education, healthcare and livelihoods projects. By inviting external donors to contribute, the Foundation is able to scale up efforts and benefit a far greater number of communities and conservation projects. To date, the charity has provided solar lamps to families displaced in the Cabo Delgado province in Mozambique and is close to completing a primary school in rural Madagascar. The collector and Phillips have selected four Zambian projects to benefit from the sale of these Zambian treasures.
The collector first learned about Zambian emeralds when discussing the gemstones with a friend and expert in London. “We talked about the characteristics, comparison, value and comparable to more historic sources. I was convinced that Zambia would emerge as the next best source for emeralds just as Burma emerged as the next best source for sapphires after Kashmir. Shortly afterwards, a friend from New York met me at a hotel lobby in Geneva, and through him I bought my first Zambian emerald. After the purchase, I looked at it every day for the next few days as we would do after buying a new car. That was the beginning, and it was not long afterwards that I actively started searching for the best of the best in Zambian emeralds.”
One such treasure that captured the collector’s attention instantly is the 56.87 carat Zambian emerald necklace. It carries Gubelin certification, including a citation for being the largest non-oiled Zambian emerald certified by the laboratory to that date. The collector didn’t leave its side until the deal was closed and the “simply mesmerising” gemstone was his – “I haven’t seen such a piece of gem before or after. To me, it was a must.”
A pair of 8.13 carat and 8.27 carat emerald and diamond earrings, and an emerald and diamond bangle totalling 60.94 carats stand out in the collection, in addition to a suite comprising earrings, bracelet, ring and necklace that totals 117.82 carats, 11.94 of which belong to the ring, which is certified as having received no clarity enhancement.
The collector visited museums and auction previews and attended live auctions by global houses, as well as international exhibitions and shows in Basel, London, Hong Kong, New York and Las Vegas. He would regularly “browse through catalogues, inspecting the finest and rarest objects”. He says: “participating in bidding became an intrinsic part of my life.” He would always view each gemstone under assorted light sources and take time to visualise how the gem would appear mounted within a piece of jewellery. Expert advice guided the way, but this growing knowledge base, imagination and passion played an essential role in amassing the treasure trove Phillips brings to auction today.
When asked what advice he would give to someone who is considering buying a Zambian emerald for the first time, the collector of these exceptional emeralds responded: “Don’t wait until it becomes rare and prohibitively expensive. It’s already on the trajectory. History repeats and this is what we saw with both Burmese sapphires and Mozambican rubies.”
Treasures from Zambia: An Exceptional Emerald Collection will open for bidding via Phillips from 23 November – 2 December 2021.
Phillips is the destination for international collectors to buy and sell the world’s most important twentieth-century and contemporary works of art, design, jewels, watches, photographs and editions. By focusing specifically on the defining aesthetic movements of the last century, we have set ourselves apart as the most dynamic and forward-thinking auction house in the world. Our global presence, seasoned expertise and individualized client service lead collectors to seek our guidance on market trends and insights.
The Phillips team is comprised of specialists from auction houses, museums, galleries and other leading arts institutions. In addition to conducting auctions in our New York, London, Hong Kong and Geneva salerooms, we hold private sales and curated selling exhibitions around the world. Outside of the opportunities we provide to consign or buy through auctions and private sales, we consult with museums, advise private estates and corporate clients and offer appraisals, valuations and other financial services.
About the Gemfields Foundation
Gemfields Foundation is the charitable arm of Gemfields, through which donors can contribute funding to directly support community and conservation projects in Africa, magnifying the scale of the work already carried out by Gemfields itself.
Gemfields Foundation is a UK registered charity that functions quite unlike most charities: 100% of donor funds are directed, in full, to the underlying charitable projects. All overhead, administration, travel and management costs are borne fully by Gemfields Limited and its subsidiary companies. The result is a charitable endeavour that enjoys, at no cost to donors, excellent in-country experience, personnel, infrastructure, support and community liaison teams, uniquely positioning Gemfields Foundation to deliver impactful projects in a highly efficient and timely fashion. Governed by an international board of trustees originating from five countries, Gemfields Foundation provides a vessel through which donors can leverage proven on-the ground delivery capabilities to swell the benefits which precious African gemstone resources bring to their place of origin and to their host communities. Further information about the Gemfields Foundation can be found at www.gemfieldsfoundation.org.
Langmead & Baker Ltd
Tel: +260 979 060705
Head of PR and Communications
Tel: +44 (0)207 518 3420
Notes to Editors
Kagem responsible sourcing highlights
- Kagem is committed to ensuring that the community continues to benefit positively from its operations through various sustainability programmes focused on alleviating poverty and aligned with government policies, the UN Sustainable Development Goals (SDGs) and Vision 2030
- The mine has spent more than USD 2.75 million on community projects, including:
- Rehabilitation of the 18.7 km road connecting Chief Nkana and Chief Lumpuma’s chiefdoms from Kandole to Kafwaya village in Lufwanyama district
- Construction of the Nkana Health Centre
- Construction and equipping of a new Chapula Secondary School
- Construction of new buildings at Chapula Primary School
- Building of teachers’ accommodation at Kapila Community School
- Support for the Blessing, Kapila Green Farms,Twende and Twasanta projects including distribution of farming inputs to Chief Lumpuma
- Improvements to Chief Nkana and Chief Lumpuma’s palaces
- Support towards Covid-19 efforts including the donation of relief items to Nkana Health Centre and other health facilities in the Lufwanyama
- Kagem’s USD 345,000 industry training initiative is sponsoring 12 students from the geological and mining engineering departments at the School of Mines at the University of Zambia (UNZA) and Copperbelt University (CBU) over a period of eight years.
- Since acquiring 75 percent of Kagem in 2008, Gemfields has been meticulous in declaring revenue, which has reached approximately USD 701.4 million from the sale of emeralds at auctions both locally and internationally, and which are overseen by representatives from the Ministry of Mines and Zambia Revenue Authority (ZRA). Proceeds from the auctions are repatriated to Zambia, generating valuable foreign exchange for the nation.
- Kagem has contributed approximately USD 122.9 million to the Zambian government in cumulative corporation taxes, mineral royalties, export duty and dividends. This means that around 18 percent of Kagem’s revenues have flowed to the Zambian government.
- Kagem currently provides more than 1,100 direct jobs.
About Kagem Mining
Kagem Mining Ltd, based in Lufwanyama, is believed to be the world’s single largest producing emerald mine. Kagem is 75% owned by Gemfields, in a model partnership with the Zambian government.
Kagem aims to emulate the values of Gemfields and operate in a way that contributes positively to the national economy, while taking a leading role in modernising the coloured gemstone sector and building sustainable livelihoods for the communities around the mine. Kagem believes that coloured gemstones should be mined and marketed by championing three key values – transparency, legitimacy and integrity.
Gemfields is a world-leading supplier of responsibly sourced coloured gemstones. In addition to Kagem, Gemfields is the operator and 75% owner of Montepuez Ruby Mining in Mozambique (at one of the most significant recently discovered ruby deposits in the world), as well as bulk sampling licences in Ethiopia, amongst others.
Gemfields has developed a proprietary grading system and a pioneering auction and trading platform to provide a consistent supply of coloured gemstones to the global jewellery market.
Fabergé – an iconic name with an exceptional heritage – is a member of the Gemfields Group. This enables Gemfields to improve its positioning, perception and consumer awareness of responsibly sourced coloured gemstones through the beauty of design and craftsmanship.
Gemfields’ responsibly sourced gemstones are the preferred choice for show pieces created by many world-renowned luxury houses and cutting-edge designers.
Gemfields: Gemfields.com | Investors | Instagram | Facebook | Twitter | YouTube
Fabergé: Fabergé.com | Instagram | Facebook | Twitter | YouTube
Kagem Mining: LinkedIn
Montepuez Ruby Mining: LinkedIn