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 & AwardsOct 17, 2025
An Edit of Italian Jewels Is Coming to NYCThe new showcase dedicated to Italian jewelry design is set for Oct. 29-30.
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ EarringsTake a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
IndependentsOct 16, 2025
Retailer Hall of Fame 2025: Jeffrey Zimmer Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsOct 16, 2025
Oscar Heyman’s Holiday Catalog Is Out, and It’s SpectacularThe holiday catalog for 2025 features never-before-seen images of more than 100 one-of-a-kind masterpieces.
CollectionsOct 16, 2025
Foundrae Adds To ‘United in Love’ CollectionThe brand has released a second installment of its collection of traditional and non-traditional commitment heirlooms.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
IndependentsOct 15, 2025
Retailer Hall of Fame 2025: Kathy CoreyCorey rescued New England chain Day’s Jewelers, preserving its legacy with strong people skills, pragmatism, and a “get-it-done” attitude.
CrimeOct 15, 2025
Men Receive Lengthy Prison Sentences for 2023 Murder of Colorado JewelerCharles Robinson Shay was sentenced to life in prison plus 120 years while his accomplice, Michael James McCormack, got 75 years.
Events & AwardsOct 15, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MADThe Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.
Events & AwardsOct 15, 2025
JCK, Luxury to Debut New Watch Section in Vegas Next YearTimepieces at Luxury will take place at The Venetian and, like Luxury, will be invitation-only for the first two days.
IndependentsOct 14, 2025
Retailer Hall of Fame 2025: Tom DixonAs chairman of Schwanke-Kasten Jewelers, Tom Dixon has been tasked with honoring the past and shaping the future of the family-run store.
Events & AwardsOct 14, 2025
Here Are the Winners of the BIJC, JA ‘Emerging Jewelers’ Grant Katty Villapando Lyte and Mica Rencher received a $10,000 grant for their business, Shimmer Culture LLC.
IndependentsOct 14, 2025
Day’s Jewelers Crafts Custom Jewelry for No.1 NBA Draft Pick Cooper FlaggThe parents of the Dallas Mavericks rookie bought their engagement ring at a Day’s store in Bangor, Maine, in 1997.
SourcingOct 14, 2025
Pragnell Debuts Kitulo Garnet Jewelry The UK-based brand sourced the gemstones, which are fully traceable, from an artisanal mining community in Tanzania.
CollectionsOct 10, 2025
Count Down to the Holidays With Astrid & Miyu’s Advent CalendarsThe trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.
CollectionsOct 10, 2025
Piece of the Week: Marla Aaron’s ‘Nymphenburg Lock’Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.
MajorsOct 10, 2025
Frederick Goldman Names New VP of SalesJewelry industry veteran Alisa Bunger has taken on the role.
SourcingOct 09, 2025
Feriel Zerouki Is Leaving De Beers The company and industry leader’s two-decade tenure with De Beers will come to a close at the end of the month.
AuctionsOct 09, 2025
This Fabergé Egg Could Crack $27M At Auction“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.
MajorsOct 09, 2025
Sy Kessler Buying Watch Batteries as Silver Hits Record High The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.
CollectionsOct 09, 2025
Katkim Launches First Men’s CollectionThe line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.
SourcingOct 09, 2025
Gemfields’ Mini Mixed-Quality Ruby Auction Garners $11MThe rough on offer was recovered from a newer area at the Montepuez mine.
SourcingOct 08, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 08, 2025
Emily P. Wheeler Shifts Into Neutral for Latest ‘Ombré’ CollectionThe champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.
CollectionsOct 08, 2025
Tsuba Designs Inspire Monica Rich Kosann’s New CharmsKosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.
