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
Events & AwardsNov 06, 2025
Pink Tourmaline Bracelet, Emerald Suite Take Top Spectrum Honors Pink and purple stones were popular in the AGTA’s design competition this year, as were cameos and ocean themes.
IndependentsNov 06, 2025
Greenwich St. Jewelers Hosts Raffle Supporting Food RescueAll proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.
IndependentsNov 06, 2025
Cornell’s Jewelers Names New PresidentCourtney Cornell is part of the third generation to lead the Rochester, New York-based jeweler.
Brought to you by
Jewelers of America Aligns New Mission to Create Meaningful Impact for MembersFrom educational programs, advocacy, and recent MJSA affiliation, Jewelers of America drives progress that elevates businesses of all sizes.
SourcingNov 06, 2025
De Beers’ Production, Sales Increase in Q3 De Beers also announced more changes in its upper ranks ahead of parent company Anglo American’s pending sale of the company.
Weekly QuizNov 06, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesNov 05, 2025
Shinola President Steps Down Just as He Starts Former Signet CEO Mark Light will remain president of Shinola until a replacement for Ulrich Wohn is found.
FinancialsNov 05, 2025
Pandora Posts Modest Q3 Sales Growth Amid ‘Weak’ Consumer Sentiment The company focused on marketing in the third quarter and introduced two new charm collections, “Pandora Talisman” and “Pandora Minis.”
FinancialsNov 05, 2025
Brilliant Earth’s Q3 Sales Climb 10%The jewelry retailer raised its full-year guidance, with CFO Jeff Kuo describing the company as “very well positioned” for the holidays.
Policies & IssuesNov 04, 2025
Supreme Court to Hear Tariffs Case WednesdayAhead of the hearing, two industry organizations co-signed an amicus brief urging the court to declare Trump’s tariffs unlawful.
MajorsNov 04, 2025
Danny Clark to Become Stuller CEO, Succeeding Matt StullerStuller COO Belit Myers will take on the additional role of president, with all changes effective at the start of 2026.
ColumnistsNov 04, 2025
Peter Smith: What Do Birds Have to Do With the Price of Gold? Smith cautions retailers against expending too much energy on things they can’t control, like the rising price of gold.
TrendsNov 04, 2025
Amanda’s Style File: Fall Colors for November BirthdaysCitrine and topaz are birthstones fit for fall as the leaves change color and the holiday season approaches.
IndependentsNov 04, 2025
Weston Jewelers Heads to Fort LauderdaleThe family-owned jeweler will open its fourth store in Florida in late 2027.
CrimeNov 03, 2025
Men Dressed as Construction Workers Burglarize Jeweler’s Home The NYPD is looking for three men who stole a safe and jewelry valued at $3.2 million from the home of a jeweler in Jamaica Hills, Queens.
MajorsNov 03, 2025
Matthew Rosenheim Takes Over as JA Board ChairThe trade organization also announced its executive committee and five new directors.
CollectionsNov 03, 2025
Muse’s ‘Have a Heart’ Collab Returns, Now With DDGThe “Have a Heart x Diamonds Do Good” collection is championed by model and humanitarian Flaviana Matata and will benefit her foundation.
TrendsOct 31, 2025
Piece of the Week: A Spinner Fit for ‘Frankenstein’This “Mother Father” spinner necklace from Heavenly Vices Fine Jewelry draws inspiration from Victorian Era jewelry.
CrimeOct 31, 2025
5 More Arrested in Louvre Heist, Jewelry Still Missing The suspects were rounded up in Paris and its suburbs on Wednesday night, but none of the stolen jewels were recovered with them.
Recorded WebinarsOct 31, 2025
Watch: How to Master Google Reviews for Your BusinessExperts share top tips on how to encourage positive reviews and handle negative feedback.
Supplier BulletinOct 30, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
CrimeOct 30, 2025
29-Year-Old Man Charged in Multiple Seattle-Area Smash and Grabs The suspect faces charges in the August robbery of Menashe & Sons Jewelers and is accused of committing smash and grabs at two pawn shops.
Lab-GrownOct 30, 2025
Alison Lou’s New Collection Uses Lab-Grown Diamonds and ResinThe “Lumière Fine” collection was born from designer Alison Chemla’s interest in the transformative power of light.
TrendsOct 30, 2025
Amanda’s Style File: A Haunted HalloweenShow off your spooky side with these 12 festive jewels.
Events & AwardsOct 30, 2025
Jewelers Mutual to Host Jewelry Panel at Frazier History MuseumThe “Brilliant & Beyond” panel coincides with the “Love & Marriage” exhibition curated by Davis Jewelers in Louisville, Kentucky.
Events & AwardsOct 29, 2025
October Brings Little Change to Consumer Confidence Consumers are feeling more optimistic about their present situation while the short-term future remains a little scary.
Events & AwardsOct 29, 2025
Couture Partners With Time to WatchesThe company, which organizes a watch show in Geneva every spring, will bring a selection of watch brands to the 2026 Couture show in Vegas.
