Luxury Ruby Sells for almost $31 Million USD
The stone is a ruby sells. It has officially become the world’s single most expensive colored stone.
It was sold at an auction in Switzerland for about 30 million USD even though the stone was previously appraised for about $15 million. In my opinion, the industry seems to be reaching a new normal with a 25 carat colored stone now selling for a price two times that of its estimated appraised value.
Ruby Sells on the auction market
“The auction market got a shot of adrenaline last night, as the Sotheby’s Geneva sale set a world record for any jewelry auction—and capped that with six more world records, almost all for colored stones.” According to DiamondBlogs.com
In total, the auction fetched about 161 million dollars. A nice boost in sales for Sotheby’s (the company in charge of the auction)
For more information on the auction itself, and the jewelry industry in general, check out our Facebook page.
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Written by: Brian Granoff
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