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Auction of giant emerald attracts Arab group and closes for 5% of estimated value; 60 cm stone discovered in Serra da Carnaíba, in Bahia, will still undergo technical evaluation.
Precious stones have always fascinated humanity, but a giant 69 kg emerald recently stole the show in Salvador, Bahia. Initially valued at R$1 billion, the stone was sold at auction for just 5% of its estimated value: R$50 million. But how did such a rare gem come to this end? Let's explore this fascinating story.
The incredible discovery of emeralds in Serra da Carnaíba
The 69 kg emerald was found in 2018 in Serra da Carnaíba, in the Pindobaçu region of Bahia, famous for its deposits of precious gems. This area has already brought other gigantic stones to the world, consolidating its reputation as one of the largest emerald extraction centers in Brazil.
Measuring 60 cm in height and 20 cm in width, the stone has an intense moss-green tone and remains in its raw state, without being cut. This raw shape contributes to its uniqueness, attracting international collectors and investors interested in its potential for appreciation.
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The auction: expectations and outcome
The auction began with high expectations, setting the initial price at R$100 million. However, the lack of bids forced the organizers to scale back their ambitions. The R$50 million bid came from an Arab group, representing only 5% of the estimated value, but ensuring the continuity of the process.
Despite the accepted offer, the sale still depends on technical approval. The stone will be subjected to inspection by a gemologist trusted by the buyers. If its condition does not meet expectations, the transaction may be cancelled.
Bahia's role in the precious gemstone market
The Serra da Carnaíba is one of the largest sources of emeralds in Brazil. In addition to this 69 kg stone, the region has already revealed other incredible gems, such as a 137 kg emerald that was sold for R$175 million in May 2024.
Another 147 kg emerald is also awaiting official appraisal before going to auction. These discoveries reaffirm Bahia’s potential to attract global investors and strengthen Brazil’s position in the international gemstone market.
The importance of the transaction for the gemstone market
The auction of this 69 kg emerald is not just an isolated event. It reflects the growing interest in Brazilian gemstones on the global market, with significant economic implications for the region and the country.
With its rich deposits and exceptional quality gemstones, Brazil is consolidating itself as one of the main players in the segment. The sale of this emerald could further boost the country's reputation, opening up new business opportunities in the sector.
The sale of the 69 kg emerald for R$50 million marks an important moment for the market of precious stones in Brazil. Although it did not reach the estimated value, the transaction reinforces the strategic role of Bahia and the country on the global stage. There is still expectation that, after the technical inspection, the auction will be concluded, highlighting the stone as a milestone for 2024.
Brazil always below Arabs can pay the real value of the stone.
The municipality is not entitled to a percentage of the royalties from the sales of these stones?
Why was this amount accepted and who will be the beneficiary of the money!?