How much do rubies cost? Rubies are known for their bright red color and are one of the most famed and fabled red gemstones available in the world.
Apart from the bright color, it happens to be the most desirable gem because it is durable, luster, hard, and rare.
But how much do rubies cost? This is the question many ask.
There is a lot more to learn about rubies than knowing how much rubies cost.
What are Rubies?
They are made of corundum, and corundum comes in many other colors, though those colors are known as sapphires.
Rubies derive their red colors from trace amounts of chromium. Though pink corundum is sometimes called pink sapphire and also pink ruby.
But this depends on the region, hue, and personal opinion.
How Much Do Rubies Cost?
A quality ruby that weighs about 10 carats has the potential of being sold for a higher price than a similar-sized diamond. According to the record, some large rubies have been sold for more than $225,000 per carat.
Note that rubies of this kind of quality are significantly rarer than bigger-sized diamonds, and this explains why diamonds and rubies have price differences.
Types of Rubie
1. The Burmese Ruby
Burma’s rubies are one of the most sought-after, and Burma is now known as Myanmar. Burmese Ruby quality is generally much higher than other rubies and normally displays more red color.
One of the most looked-for rubies comes from Burma, which is Pigeon Blood Rubies.
2. Indian Ruby
As we all know, Indians Rubies have a long history of value. Before the 20th century, Rubies were known to have more value than diamonds.
You can find Indian Rubies in Mysore and Orissa.
3. Red Ruby
This happens to be the most well-known Ruby gemstone which exhibits a deep blood-red hue that has brilliant saturation and luster. When it comes to quality, the color of a traditional Ruby stone can affect the overall value.
This is because the most desirable color-consistent, well-balanced Ruby gemstones is the dark red.
4. The Afghanistan Ruby Gemstones
One other precious ruby gemstone comes from the Afghanistan rubies. The Afghanistan Rubies which are mined in Jagdalek have qualities that are not found anywhere in the world.
The Afghanistan rubies mining can be found in the region of Badakhshan and Jagdalek. There are good colors of the original ruby gemstone in these regions which are light red to dark red.
5. The Star Ruby
The star ruby happens to be the result of a coincidental and magnificent creation. It is considered a Star Ruby because a three-point or six-point asterism (star shape) appeared within the stone.
However, this star appeared when tiny fibers of rutile, which is known as silk light, reflect on them in a way that a star shape will be formed.
6. Glass Filled Ruby
Sometime in 2004, a laboratory in Japan first identified the Glass-filled Rubies. These types of stones are made from natural Rubies.
They were later filled with substances like lead glass to make sure their transparency and durability are enhanced.
However, this fissure-filled type of Ruby is consistently used for the production of several attractive jewelries. Most times their end products can be expensive as they are highly valued.
7. Mogok Ruby
One of the world’s well-known Ruby stones comes from the best mines in the Mogok region. The Mogok Ruby is the most sought-after type of Ruby and can be very rare, and it commands a very high price in the global market.
Mogok Rubies are very fine and display a pure, vivid red color, also known as pigeon blood color.
Are Rubies Expensive?
Yes, and this is because the better-quality material and little differences in color can make huge differences in value. A rare color ruby that’s also free of eye-visible inclusions commands even higher prices.
Rubies are more valuable and are well priced than any other colored gemstone. For some time, the prices per carat of the world’s fine-quality rubies have been consistently increasing in value, and many times breaking auction records.
Note that the Jubilee Ruby, which weighs 15.99 carats, happens to be the most expensive colored gem ever sold at auction in the US. This piece was sold for $14.2 million, and this equates to about $885,000 per carat.
However, the more transparent the ruby’s crystal is, the more expensive it will be. One of the cheapest rubies is the Opaque rubies because the crystal isn’t too clear.
Are Rubies Valuable?
Yes, and there’s no need to deny that rubies are very beautiful. The Indians call their rubies “lord of the gemstones.”
This is because rubies are the most valuable and rarest natural gemstones. The reason is that rubies have long been associated with wealth, royalty, and power.
Many believe that ruby deep red color can stir up love, and make the wearer to even collect more wealth. In the European royal houses, they have long been seen as important royal jewels.
One of the European royal houses that rubies are very valuable is the Black Prince Ruby that’s set in the imperial crown of the United Kingdom.
How Much Do Rubies Cost Per Carat?
The value of rubies depends on their color, quality, and carat weight. A bigger, high-quality specimen is known to command a higher price.
Larger and transparent rubies can be very rare.
But synthetic rubies also exist, and can be used as a substitute for natural gemstones. Though natural rubies command much higher prices than their synthetic versions.
A carat of ruby can cost from $1 to about $100,000 depending on its color and quality. But one of the most expensive rubies ever sold, which weighs 15.99 carats, was auctioned in the US.
This piece was sold for $14.2 million, and this equates to about $885,000 per carat. Note that clearer and transparent rubies that display asterism are very valued.
How Much Do Rubies Cost Compared to Diamonds?
When it comes to cost, rubies are more favorable in price than diamonds. However, there are lots of reasons for this, and one of such is that diamonds have smaller flaws than rubies.
Another reason is that rubies could be cut with less precision.
This reason can be true only if only you’re looking at maximizing the color of a ruby, not its sparkle. For instance, a one-carat ruby ring costs about $2,050, but a one-carat natural diamond solitaire ring can cost you about $3,400.
Though there are some colors and qualities of rubies that are more expensive than diamonds. This is why many still ask how much rubies cost.
Who Buys Rubies?
There are no specific individuals that buy rubies, they can be bought by anyone. But the most popular options if you want to sell your gemstones are auction markets, pawnshops, and private buyers.
However, even though online auctions and pawnshops can be easy to find, they will not offer you the best price for your ruby.
Always remember that the stronger and more intense the color of the ruby is, the more valuable it will be. But, other things are considered such as clarity and cut quality.
All these also play an important role in a ruby’s value.
Are Red Rubies Expensive?
Yes, and red rubies are known to be light, medium, or dark in color. But the most expensive red rubies are normally medium in color and have a soft, glowing fluorescence.
Red rubies are known to be the most valuable rubies of all. This is because red is their dominant color and appeals to many.
Note that this fluorescence comes naturally from chromium, though not all rubies come with this natural trace of iron in the stone.
Are Natural Rubies Expensive?
Natural rubies happen to be one of the rarest gemstones in the world. The rarest rubies originated from Burma (Myanmar), and this is because of their high quality and exceptional color.
High-quality rubies that are bigger than one carat can be extremely rare and very expensive.
A natural ruby can cost over $100,000 depending on its color and quality.
If you wonder how much rubies cost, then note that one of the most expensive rubies ever sold, which weighs 15.99 carats, was auctioned in the US for $14.2 million. And this equates to about $885,000 per carat.
Natural rubies are wonderful gemstones that are used in the production of pieces of jewelry such as engagement rings. Rubies have a long-established history, they even surpass our current standard of beauty.
So when you wonder how much rubies cost, always remember that rubies are very valuable, and represent royalty in most parts of the world.