Two South Korean companies paid $14,710 per kilogram for a nano-lot of Panamanian Geisha at a private Geisha coffee auction this week, establishing a new benchmark for one of the world’s most exclusive agricultural products. Ruli Coffee and GSC International secured the 2-kilogram lot from the first harvest of Luito Estate after a marathon bidding session that stretched across 11 hours and 15 minutes.
The event, organized by Lamastus Family Estate and titled “First Light, Before the World Wakes,” began at 6 p.m. on September 8 and didn’t conclude until 5 a.m. the following day. The winning lot attracted 3,881 individual offers, according to Wilford Lamastus, the estate’s owner.
Luito Estate’s Historic Debut
Luito Estate sits at 1,930 meters above sea level in the mountains of Boquete, near the Sendero de Los Quetzales trail in Panama’s Chiriquí province. For a brand new farm to claim the top price at its first auction appearance represents something almost unheard of in specialty coffee circles. Wilford Lamastus Jr., a family member, called the results “an accident of nature.”
“Luito is the northernmost farm in Boquete. This washed Geisha is an example of sobriety and balance. The bajareque (a nearly constant mist during the dry season, coming from the Continental Divide) slows ripening to an extreme degree. Fermentation is brief and clean, allowing the terroir to express itself above the process.” [Translated from Spanish]
A second lot from Luito Estate, weighing 4 kilograms and originating from cross-pollination carried out in the seedbed before planting, sold for $6,433 per kilogram. Together, these two lots represent the first 6 kilograms ever harvested from this new farm. Both went to international buyers during the same auction.
Inside the Marathon Geisha Coffee Auction
The private auction, named “First Light, Before the World Wakes,” ran from 6 p.m. on September 8 until 5 a.m. on September 9. That’s a full 11 hours and 15 minutes of continuous bidding. The record-setting lot alone received 3,881 offers from buyers competing across multiple time zones.
In total, 26 lots went under the hammer, comprising 526 kilograms of Geisha coffee in both washed and natural processes. The beans came from three family-owned farms, El Burro, Elida, and Luito Estate. Lot sizes ranged from 2 to 40 kilograms.
“The lots varied between 2 and 40 kilograms, because the 2026 harvest had a notably low yield in all production areas, but with extremely high quality,” said Lamastus. [Translated from Spanish]
Buyers participated from China, South Korea, the United Arab Emirates, the United States, Japan, and Saudi Arabia. This global interest reflects the growing appetite for ultra-premium Panamanian coffee among affluent markets in Asia and the Middle East, where specialty coffee culture has expanded rapidly over the past decade.
The Terroir and Flavor Behind the Price
The coffee that commanded nearly $15,000 per kilogram offered tasting notes of white jasmine, lemon, fresh green apple, and a bergamot finish. Those delicate floral and citrus characteristics are hallmarks of high-altitude Geisha varietals grown in Panama’s volcanic soils. At 1,930 meters, the cherries mature slowly, allowing sugars and aromatic compounds to develop fully.
Lamastus Family Estate says the thermal oscillations in this mountainous zone contribute to the aromatic intensity of the coffee. The bajareque, or nearly constant mist during the dry season, further slows maturation. This combination of altitude, climate, and careful processing created conditions that pushed the price beyond anything previously recorded at a private Geisha coffee auction.
The 2026 harvest yielded significantly less volume than normal, but what emerged from the trees carried exceptional concentration and clarity. Growers across the Boquete region reported lower production figures, yet the quality of the beans that did mature reached extraordinary levels. This scarcity dynamic likely fueled the aggressive bidding.
Panama’s Specialty Coffee Industry Reaches New Heights
This latest result puts Lamastus Family Estate back in the spotlight just weeks before another major milestone. The family also achieved the highest score at this year’s Best of Panama competition, with a washed Geisha from the Torre de Elida Estate earning 96.25 points. That particular coffee goes to auction on September 23, organized by the Specialty Coffee Association of Panama (SCAP).
Panamanian Geisha has established itself as a key coveted luxury agricultural products on the planet. The varietal, originally from Ethiopia but perfected in the highlands of Chiriquí, regularly commands prices that rival the world’s finest wines. Family-owned estates have driven this reputation through meticulous farming and processing methods, from selective hand-harvesting to innovative fermentation techniques.
For the Lamastus family, beating their own 2024 record of $13,518 per kilogram demonstrates that the market for top-tier Panamanian coffee continues to strengthen. Global buyers from Asia, the Middle East, and beyond are competing more intensely each year, and the upcoming SCAP auction on September 23 will show whether this private sale’s benchmark can be surpassed. Either way, Panama’s position at the pinnacle of the specialty coffee world appears unshakeable.