Just recently an important Burmese ruby and diamond ring was sold at Christie’s in Hong Kong. While the diamonds surrounding the ruby were nothing to discount all accounts of the sale referred to the ruby as if it were all by itself in the ring.
Counted alone the ruby went for a per-carat record of just over USD $550,000 per-carat. At 6.04 carats the total came to almost USD $3,333,000.00.
Whether you are born in July, are a collector of fine gemstones, or a jewelry devotee, the Mogok Ruby should be part of your lexicon. Fine Ruby is sometimes known as the “king of gems”. Ruby from this fabled area of Myanmar (Burma) is highly sought after. Some of the premier stones in collections and museums are from this special Mogok region.
One such stone is the “MOGOK RUBY” weighing 15.97 carats. This beautiful cushion cut gem sold at Sotheby’s auction house of New York for $3,630,000.00 in 1988. It was purchased by Graff of London and later resold to the Sultan of Brunei as an engagement ring for his wife. The incredible color and size make this gem ruby a superior collectible. What would it be worth in today’s money? No doubt a lot more. Especially now that it has an interesting provenance…
As a true ruby aficionado, I’ve been just waiting for July to roll around the calendar. As young gem dealers Laura and I spent months in Thailand early on in our careers. Among our missions there, learning about ruby was towards the top of the list. Over the years we’ve spent months (perhaps years) in Southeast Asia dealing in rubies and enjoying every exciting and even every frustrating minute of it.
Based on price per carat and price per stone, ruby is probably the king of all colored stones. On a price per stone basis there may be some good competition with emerald. This may well be due to the fact that emerald comes in bigger sizes than ruby.