Largest Gem-Quality Ruby Shatters Auction Records, Selling For $34.8 Million
The world witnessed a groundbreaking auction as the largest ruby ever discovered went under the hammer, fetching an astounding $34.8 million.
This 55.22-carat gemstone, named Estrela de Fura (Star of Fura), captured the attention of bidders in New York, less than a year after its remarkable find in Mozambique by Canadian company Fura Gems.
Sotheby’s, the renowned auction house, hailed this ruby as an exceptionally rare and immensely valuable jewel.
Its significance was emphasized by surpassing all previous records for ruby sales. Notably, the Sunrise Ruby, a 25.59-carat gem from Myanmar, held the previous record when it sold for $30.3 million in Geneva back in 2015.
Estrela de Fura originated from a truly extraordinary rough stone, discovered by miners in July of the previous year. Weighing a staggering 101 carats, it was the largest gem-quality ruby ever found.
Skilled craftsmen meticulously cut and polished the stone, refining it into a smaller, symmetrical shape to enhance its colour and brilliance. The Swiss Gemmological Institute reported that this process resulted in vivid red hues, accentuated by multiple internal reflections.
Dev Shetty, the founder and CEO of Fura Gems, expressed astonishment at the rarity and size of such a stone.
He emphasized the company’s meticulous approach, ensuring the utmost care and respect throughout the analysis, cutting, and polishing stages, fully acknowledging the ruby’s importance and prominence.
While diamonds often dominate the realm of record-breaking gemstone sales, rubies are undeniably among the world’s most exceptional and valuable gemstones.
Mozambique, where rubies were discovered several decades ago, experienced a significant industry boom after the finding of a massive deposit near Montepuez in 2009. Now, it stands as one of the most productive countries for ruby mining.
Estrela de Fura, sourced from this region, possesses outstanding clarity and exhibits a deep red colour known as “pigeon’s blood,” a highly sought-after hue traditionally associated with Burmese rubies. Sotheby’s head of jewellery for the Americas, Quig Bruning, remarked that this ruby has the potential to compete with and even outshine stones from Myanmar.
The auction that featured Estrela de Fura, titled “Magnificent Jewels,” also presented The Eternal Pink, a 10.57-carat pink diamond, which sold for the same remarkable price.
This “ultra-rare” diamond, renowned for its unparalleled colour and brightness, added to the grandeur of the event. Prior to the auction, both precious stones were exhibited in various cities, including Dubai, Singapore, and Geneva, further heightening anticipation before their momentous sale in New York.