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Ruby Sells for almost $31 Million USD

Ruby Sells for almost $31 Million USD

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The stone is a ruby. It has officially become the world’s single most expensive colored stone.

It was sold at an auction in Switzerland for about 30 million USD even though the stone was previously appraised for about $15 million. In my opinion, the industry seems to be reaching a new normal with a 25 carat colored stone now selling for a price two times that of its estimated appraised value.

“The auction market got a shot of adrenaline last night, as the Sotheby’s Geneva sale set a world record for any jewelry auction—and capped that with six more world records, almost all for colored stones.” According to DiamondBlogs.com

 

In total, the auction fetched about 161 million dollars. A nice boost in sales for Sotheby’s (the company in charge of the auction)

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For more information on the auction itself, and the jewelry industry in general, check out our Facebook page:

https://www. facebook.com/grayandsonsjewelers?fref=ts

 

To see our own unique collection of ruby jewelry visit: http://www.grayandsons.com/category/s?keyword=ruby

 

Property of Gray and Sons Jewelers

Written by : Brian Granoff

Written by

Gray & Sons

We have been in business since 1980 in beautiful Miami Beach, Florida. The principal focus of our company has always been selling meticulously restored & mint condition Certified Preowned watches and one-of-a-kind estate jewelry pieces. Our Miami Beach showroom is located across from the world renowned Bal Harbour Shops, and we have been doing mail order business with customers around the country (and around the world) for over 13 years. If you are ever in the area please stop by, we would love to meet you.

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