Rubies have been a popular gemstone throughout history. In early times they were worn as a talisman, and their mystical properties were said to control evil thoughts, dispel anger, and resolve disputes. Hindus regard the ruby - known as "the king of precious stones" - higher than any other gem, and it was said that cold water could be boiled by placing a ruby in it.
The second hardest natural substance in the world after diamonds, they are an ideal gemstone for wearing in jewellery, with the strong, intense and vibrant crimson – the so called ‘pigeon’s blood’ colour - being the most desirable. Its red colour means the ruby has also come to be associated with the heat of intense love. It’s said to ignite feelings of love and passion in the wearer, which makes ruby jewellery an ideal romantic gemstone gift for Valentine’s day.
A pair of Burmese ruby and diamond ear pendants Cheffins sold at auction
Although rubies are mined in many countries throughout the world, the finest are said to come from Myanmar (Burma), and with the world’s largest ruby selling for a whopping $34.8million in June 2023, the public’ s demand for this gem shows no signs of waning.
Cheffins achieved some remarkable prices for ruby set jewellery last year, including two pairs of Burmese ruby and diamond ear pendants selling at £42,000 and £23,000 respectively, and two Burmese ruby rings each selling for £11,000.
A Burmese ruby ring sold at a recent Cheffins auction
Fay Roach, jewellery and watches specialist at Cheffins, comments: “The ruby is certainly in demand, especially stones that are from Burma with no heat treatment. We usually have a high sale rate from the ruby jewellery that we consign.”
Fay advises: “When buying ruby at auction, make sure that it isn’t chipped, abraded or crazed. To the naked eye, it should be bright and lively and not ‘cloudy’. Rubies can be treated to improve their colour, for example by heat treatment or glass filling, and this greatly affects the value”.
Cheffins' next Jewellery, Silver and Watches sale is on Thursday, 25th April – the closing date for entries is 1st March. Click here for further information and to submit lots for valuation.