AuctionsJul 26, 2023
Tupac’s Crown Ring Sells for Over $1M at Auction AuctionsAug 02, 2023
Ruby Ring Sells for $3.3M at Artcurial Auction
The natural Burmese stone is the second-most expensive ruby sold at auction in 2023.
This 7.1-carat Burmese ruby set in a daisy-style ring by Guillemin & Soulaine set a sales record for Artcurial this week, going for more than $3 million. (Image courtesy of Artcurial)
Monaco—A 7.1-carat Burmese natural ruby and diamond ring sold at auction this week for €2.9 million ($3.3 million), eclipsing its pre-sale estimate of €150,000 - 250,000 ($164,000 to $273,000) by nearly 12 times.
The sale makes the jewel the second-most expensive ruby sold at auction in 2023, going for approximately $459,000 per carat, according to French auction house Artcurial. It set a sales record for the house’s jewelry department as well.
Artcurial offered the ruby ring during its Monaco Auction Week sales, held July 16-19 at the Hotel Hermitage in Monte Carlo.
Set in an 18-karat yellow gold daisy-style ring by Guillemin & Soulaine, the stone is surrounded by 10 diamonds weighing between 0.4 and 0.5 carats each. According to its SSEF report, the ruby is unheated and received a "pigeon blood" color grade, consistent with the finest rubies from the legendary Mogok mines in Burma (Myanmar).
The sale makes the jewel the second-most expensive ruby sold at auction in 2023, going for approximately $459,000 per carat, according to French auction house Artcurial. It set a sales record for the house’s jewelry department as well.
Artcurial offered the ruby ring during its Monaco Auction Week sales, held July 16-19 at the Hotel Hermitage in Monte Carlo.
Set in an 18-karat yellow gold daisy-style ring by Guillemin & Soulaine, the stone is surrounded by 10 diamonds weighing between 0.4 and 0.5 carats each. According to its SSEF report, the ruby is unheated and received a "pigeon blood" color grade, consistent with the finest rubies from the legendary Mogok mines in Burma (Myanmar).
A face-up view of the 7.1-carat Burmese ruby
SSEF said the stone is untreated and its vivid red hue is consistent with the ‘pigeon blood’ color grade.
“A natural ruby from Burma of this size and quality can be considered very rare and exceptional,” the report reads.
The industry has long regarded Burmese rubies as the standard for high-quality rubies.
However, the record-setting price of the ruby ring comes amid a seemingly faltering market for rubies from the region, which are currently banned from the U.S. due to Treasury Department sanctions in 2021 barring U.S. companies from trading with select entities related to Myanmar’s mining ministry.
A Burmese ruby, the 25.59-carat pigeon’s blood “Sunrise Ruby,” once held the record for the world’s highest priced ruby, selling for $30.3 million at Sotheby’s Geneva in 2016 to Austrian billionaire Heidi Horten.
Related stories will be right here …
However, the record-setting price of the ruby ring comes amid a seemingly faltering market for rubies from the region, which are currently banned from the U.S. due to Treasury Department sanctions in 2021 barring U.S. companies from trading with select entities related to Myanmar’s mining ministry.
A Burmese ruby, the 25.59-carat pigeon’s blood “Sunrise Ruby,” once held the record for the world’s highest priced ruby, selling for $30.3 million at Sotheby’s Geneva in 2016 to Austrian billionaire Heidi Horten.
This past May, the jewel reappeared on day one of Christie’s multi-day Geneva auction of the late philanthropist’s jewels. It sold for more than 13 million Swiss francs ($14.6 million), less than half of its original purchase price.
While many speculated that the pricing was affected by controversy surrounding the Horten family, another ruby seemed to shine regardless.
At the second Horten sale two days after the first, Harry Winston’s “The Star of Africa” was up for sale. Set in a pendant, the 54.95-carat ruby from Mozambique went for $3 million, well above its high estimate.
Barely one month later in June, at Sotheby’s Magnificent Jewels auction in New York, the Mozambican ruby “Estrela de Fura 55.22” sold for $34.8 million ($630,288 per carat), topping its pre-sale estimate of $30 million, and clearing the world record for a ruby or any colored gemstone at auction.
Prominent Mozambican ruby miners are also indicating a rebound in the market.
More on Auctions
The Latest
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment The company plans to raise the prices of select watches to offset the impact of tariffs.
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
Weekly QuizMay 30, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat EmeraldIt was featured in the miner’s latest sale, which brought in $24.8 million.
TechnologyMay 29, 2025
GemFind Launches AI Product Description SoftwareGemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.
MajorsMay 28, 2025
Graff Unveils New Las Vegas FlagshipThe 3,300-square foot location is the jeweler's largest store in North America.
CrimeMay 28, 2025
8 Convicted in Kim Kardashian Jewelry Heist TrialAging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.
CollectionsMay 28, 2025
NY Liberty’s 2024 Championship Rings Honor Historic WinThe WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.
MajorsMay 28, 2025
Andrew Rickard Named JBT PresidentA longtime executive at RDI Diamonds, Rickard has served on the JBT board for the past five years.
MajorsMay 27, 2025
MJSA to Become Part of Jewelers of America The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.
TrendsMay 27, 2025
Amanda’s Style File: Candy-Colored GemstonesGet a taste of the delicious candy-like gemstones in this Amanda’s Style File.
CrimeMay 23, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in BurglariesJSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.
CollectionsMay 23, 2025
Piece of the Week: Bliss Lau’s ‘Bright’ RingFrom Lau’s “Love of a Kind” series, the engagement ring was inspired by the moon and holds a different meaning depending on how it is worn.
GradingMay 23, 2025
GIA Updates Pearl Classification SystemThe lab has adjusted the scale it uses for nacre grading.
Supplier BulletinMay 22, 2025
How to Put Natural Diamonds Back in the SpotlightSponsored by GCAL by Sarine
CrimeMay 22, 2025
NY Jeweler Sentenced in Shoving Death of Colleague at IJO ShowDavid Walton will serve three years’ probation after an incident in a hotel bar led to the death of West Virginia jeweler David Ettinger.
FinancialsMay 22, 2025
Watches of Switzerland’s Full-Year U.S. Sales Climb 14% The retailer also provided an update on how the tariffs situation in the U.S. is affecting its business.
IndependentsMay 22, 2025
Adeler Jewelers Celebrates 50 YearsThe family-owned jeweler in Great Falls, Virginia, will be celebrating its golden jubilee with a year’s worth of events.
Events & AwardsMay 22, 2025
Jose Hess Design Awards Announce JudgesThe nonprofit elected five judges who will decide the winners of its design competition.
MajorsMay 22, 2025
MJSA Releases 2025-2026 Buyer’s GuideThis year’s edition includes articles on the favorite tools of notable designers, evaluating when to outsource production, and more.
CollectionsMay 21, 2025
Bulgari Highlights Its Colorful Past in Phenomenal ‘Polychroma’ CollectionThe jeweler’s high jewelry collection features extraordinary gemstones, like a 241.06-carat emerald and the world’s fourth-largest spinel.
ColumnistsMay 21, 2025
Edahn’s Take: Analyzing the 2025 ‘$100 Million Supersellers’ List In a special column for the State of the Majors, Edahn Golan breaks down what the top-performing fine jewelry sellers are doing right.
