Why Rubies are Dominating the Gemstone Market.
The largest and most valuable gem was a 55.22-carat ruby that sold at auction for $34.8 million USD. The stone sold in New York after the Canadian firm Fura Gems found it at one of the company’s Mozambique mines. This exceedingly rare and important ruby was named the The Star of Fura and broke records of diamond sales.
Diamonds traditionally dominate the gemstone market and traditionally set the records for sales, especially colored diamonds. Prior to this recent sale the Sunrise Ruby, a 25.59-carat Burmese ruby fetched over 30 million USD in a Swiss sale.
The ruby was included in Sotheby’s “Magnificent Jewels” sale, which was headlined by a 10.57-carat pink diamond, The Eternal Pink, which fetched the same amount as The Star of Fura. The “ultra-rare” diamond was described by the auction house as possessing “unparalleled colour and brightness.”
Many of these Burmese and African rubies wind their way to become ruby earrings in Australia after being cut and polished in cities in the Far East such as Bangkok.
But why are rubies so popular?
Rubies, referred often to the ‘King of Gemstones’, have captivated our hearts for centuries in various civilizations. Along with blue diamonds rubies have been the most sought-after of stones for years and the trend seems set to remain.
Their fiery red colour is dazzling to the eye and is associated with fire and passion. Their rarity makes them valuable and desirable, and their durability makes them an ever-lasting gift.
Rubies are one of the most sought-after gemstones in the world. From ancient civilizations to modern times, rubies have been loved for their beauty and symbolism. The price of the recent Star of Fura at auction is a testament to their long-lasting desirability.
Traditionally, rubies have been associated with power, protection, and passion. Ancient Burmese warriors believed that rubies attached to their armour rendered them invincible during battle. In India, rubies were seen as a representation of higher caste royalty.
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One of the primary reasons for the popularity of rubies is their colour. The deep red of a ruby is often associated with love, passion, and energy. This makes ruby pendants, earrings, and rings gifts for loved ones whom we have deep affection and admiration for.
Rubies are incredibly hard, second only to diamonds in durability. Rubies can withstand daily wear and tear, making them an excellent choice for engagement rings and other everyday jewellery pieces that are designed to be worn for life. A piece of ruby jewellery can be handed down from generation to generation and kept within the family as an heirloom and a token of tangible beauty.
Rubies have a rich history in fashion and pop culture. Many iconic figures, from celebrities to royalty, have worn ruby jewellery. But it is not only royalty and the famous who can own one of these captivating gemstones. Not only is the ruby a timeless gemstone it is a sign of elegance and style.
