We have seen an increasing demand for our natural untreated ethical ruby. Is the market on the rise as predicted in this article from the telegraph earlier this year ?
Coloured gemstones are increasing in value as buyers gain an appreciation of their beauty and rarity. Even with the higher prices they command, their availability does not come remotely close to being able to supply the high international demand. So it’s perhaps no surprise that the Jubilee Ruby, the most important ruby of its calibre to be offered for sale at auction in the United States for over 25 years, became the most expensive coloured gemstone ever sold at auction in America when it achieved $14,165,000 (£9.86 million) at Christie’s in New York on April 20th.
The 15.99-carat Jubilee Ruby is the second largest ruby to come up for auction in the last five years and carried an estimate of $12-15 million. To understand why rubies attract such record-breaking prices, it helps to delve into their history.
Rubies were regarded by ancient civilizations to be unquestionably the most precious gemstone in the natural world. The price that was paid for a ruby far outweighed the cost of a diamond, which is understandable as diamonds remained a mystery until man was able to cut the hardest material on earth as late as the 1400s.
Before mineralogy became a science, helped by the services of chemistry and physics, red stones were difficult to distinguish from each other, so spinels, beryls and garnets were often mistaken for rubies. Nowadays gemmologists are able to tell not just what a stone is but where it came from, which makes a difference in the ruby world.
Take a look at our natural gem stones at rubyfair.com