Why Rubies Are the Most Valued Colored Gemstones

In the world of gemstones, rubies have long held a special place as symbols of passion, power, and luxury. Among all colored gemstones, rubies consistently command some of the highest prices, often surpassing sapphires, emeralds, and even some diamonds on a per-carat basis. But what makes rubies so uniquely valuable? At Height’s Fine Jewelry, our deep experience working with these mesmerizing gems reveals several key reasons why rubies capture hearts—and high value—worldwide.

Estrela de Fura. 55.22-carat Mozambique ruby discovered by Fura Gems in Montepuez, Mozambique.

Most Expensive Ruby Sold (Total Price)

The Estrela de Fura, a 55.22-carat ruby from Mozambique, sold for a world-record $34.8 million at Sotheby’s in 2023, making it the largest ruby ever auctioned and fetching $630,288 per carat. Discovered as a 101-carat rough by Fura Gems in Montepuez in 2022, the gem’s sale surpassed its $30 million pre-auction estimate, highlighting Mozambique’s rising prominence in the colored gemstone market. This auction took the record from the Sunrise Ruby as the most expensive ruby ever auctioned.

The Crimson Flame, a 15.04-carat Mogok ruby, achieved the highest price per carat ever recorded, selling for nearly $1.2 million per carat at Christie’s Hong Kong.

Most Expensive Rubies Sold Per Carat

The Crimson Flame Ruby, a 15.04-carat Mogok Burmese ruby, was sold at Christie’s Hong Kong auction in December 2015. It set a world record for the highest price per carat for a ruby (currently still held at time of writing), fetching approximately $1,196,809 per carat. This exceptional ruby is renowned for its vivid “pigeon’s blood” red color and outstanding clarity, making it one of the finest rubies ever sold at auction. This auction took the record from the Sunrise Ruby as highest price per carat paid for a ruby.

The Sunrise Ruby, a 25.59-carat Burmese ruby graded as rare “pigeon’s blood” red, sold for a world-record $30.4 million at Sotheby’s Geneva auction—making it the most expensive colored gemstone ever sold (excluding colored diamonds) and setting the highest price per carat for any ruby, both records set at the time of auction and have since been broken. This exquisite gem, set in a platinum ring flanked by diamonds, attracted fierce bidding and was hailed as a “unique treasure of nature” by the Swiss Gemological Institute.

A Rare, Rich Red Like No Other

Rubies owe their iconic red hue to chromium, a trace element that infuses the mineral corundum with its vibrant color. This range of red, from pure, fiery reds to slightly purplish or orangy tones, is unmatched by any other gem.

The most coveted color—often described as “pigeon’s blood”—combines intensity, purity, and luminosity. This captivating red isn’t just about beauty; it is rare in nature. Fine rubies with this vivid color, free of eye-visible inclusions, are extraordinarily scarce compared to other colored stones.

Durability That Lasts Generations

With a hardness rating of 9 on the Mohs scale, rubies are one of the hardest natural gemstones available—second only to diamonds. This durability means that when set into jewelry, rubies can endure daily wear and tear, becoming treasured heirlooms passed down through generations.

Their toughness, combined with their brilliant color, contributes to their lasting desirability and thus to their high valuation.

Historical and Cultural Significance

Rubies have been prized throughout human history, spanning cultures and continents. Called ratnaraj, or “king of precious stones,” in ancient Sanskrit texts, rubies symbolized vitality, protection, and wealth.

Ancient warriors believed rubies could grant invincibility, while royalty adorned themselves with rubies to denote status and power. This rich legacy elevates rubies beyond mere gems—they carry stories, symbolism, and emotional resonance that few other stones can match.

Rarity in Large and Fine Quality Stones

Not all rubies are created equal. While small rubies are more common, fine-quality rubies over one carat are rare, and the price exponentially increases with size.

The rarity of large, intense red rubies with excellent clarity is a major driver of value. A ruby’s color quality and origin greatly affect its worth.

Origin Makes a Difference

Rubies from certain locales—such as Myanmar’s Mogok Valley—have long been prized for their exceptional color and character. Today, rubies from Mozambique and other emerging sources have also earned acclaim for their vibrant color and clarity.

The origin story tied to each ruby plays a role in value, as collectors and connoisseurs often seek stones from legendary sources or those with verified ethical origins.

Rising Demand and Investment Appeal

The demand for rubies has steadily increased over the years, fueled by consumers who appreciate their passionate color, symbolism, and rarity. Notable auction records, like the sale of the 25.59-carat Mogok “Sunrise Ruby” for over $30 million, highlight rubies’ status as both precious adornments and investment-grade gems.

This growing global enthusiasm further drives prices upward, reinforcing rubies as the crown jewel of colored gemstones.

Why Choose a Ruby from Height’s Fine Jewelry?

With 17 years of experience and deep GIA expertise, we specialize in guiding clients to select rubies that perfectly balance beauty, rarity, and value. Our seamless online process and global sourcing allow you to own authentic, ethically sourced rubies without retail markups or pressure.

Discover the timeless allure and exceptional value of rubies at Height’s Fine Jewelry. Let us help you find the fiery gem that will tell your story forever. Contact us today to begin your journey.