Hong Kong--A “superb” 10-carat Burmese ruby hitting the auction block in Hong Kong next month could sell for between $8.8 million and $12.5 million.
The 10.05-carat pigeon’s blood ruby will be the highlight of the Christie’s Hong Kong Magnificent Jewels sale, scheduled for Nov. 29.
Because of the stone’s significant size, color and flawless crystal structure, it was appropriately given the name “Ratnaraj,” which means “King of Precious Stones” in ancient Sanskrit.
It comes from Faidee, which is known for rare and incredible gemstones, including a collection of high- quality rubies. Faidee bills itself as “the only company in the world to deal exclusively in Burmese rubies.”
Exceptional colored gemstones have been setting more and more records at auction in recent years, including a number of rubies.
The oval-shaped 15.99-carat Jubilee Ruby, set in an 18-karat gold and platinum Verdura ring, sold for $14.2 million at Christie’s New York in April, making it the most expensive colored gemstone ever sold at auction in the United States.
A pair of ruby and diamond ear pendants, weighing 10.02 carats and 9.09 carats, set a world auction record for a pair of ruby earrings when they went for $11.6 million at Christie’s Hong Kong in May.
And the 25.59-carat Burmese “Sunrise ruby” set three world auction records in May 2015 when it sold for $30.3 million at Sotheby’s Geneva.