Rubies, with their mesmerizing deep red hue, have captivated human civilization for centuries. As one of the most sought-after gemstones, they have adorned royal crowns, ancient jewelry, and modern engagement rings alike. But behind their allure lies a question that has intrigued gem enthusiasts and curious minds alike: “Is ruby stone expensive?” In this article, we will delve into the world of rubies, exploring their rarity, quality factors, historical significance, and current market value, seeking to understand what makes them so valuable.
1. The Rarity of Rubies
The first factor contributing to the price of ruby stones is their rarity. Rubies are a variety of the mineral corundum, which is primarily composed of aluminum oxide with trace elements of chromium that impart the gem’s characteristic red color. While corundum is abundant, only a small percentage of it qualifies as ruby. Natural rubies with excellent color and transparency are exceedingly rare, making them more valuable.
2. The 4 Cs of Ruby Grading
Just like diamonds, rubies are graded based on the four Cs – Color, Clarity, Cut, and Carat weight. Each of these factors plays a significant role in determining the overall value of a ruby.
Color: The most crucial factor in assessing a ruby’s value is its color. The finest rubies exhibit a vivid, rich red color often referred to as “pigeon’s blood.” Stones with this color command the highest prices in the market. Factors such as hue, tone, and saturation are considered when evaluating the color.
Clarity: Clarity refers to the presence of internal flaws or inclusions in the gem. Inclusions can affect the ruby’s transparency and brilliance. The fewer the inclusions, the higher the clarity grade, and subsequently, the higher the value.
Cut: A well-cut ruby will exhibit excellent brilliance and fire. The cut should be made to enhance the gem’s color and bring out its inherent beauty. Poorly cut rubies may appear dull and less vibrant, affecting their value.
Carat weight: Rubies, like other precious gems, are priced per carat. Larger rubies are rarer than smaller ones, and as a result, their price per carat increases significantly with size.
3. Historical Significance of Rubies
The allure of rubies can be traced back to ancient civilizations. In many cultures, rubies were associated with power, protection, and prosperity. Ancient Hindus, for instance, believed that offering a ruby to the god Krishna would ensure rebirth as an emperor in the next life. In Burma (now Myanmar), warriors carried rubies into battle, believing they made them invincible. These historical beliefs and associations have contributed to the mystique and desirability of rubies throughout history, further elevating their value.
4. Famous Ruby Jewelry
Numerous legendary rubies have cemented their place in history due to their size, exceptional color, and intriguing stories. Some of the most famous ruby jewelry pieces include:
The Sunrise Ruby: This breathtaking Burmese ruby, weighing 25.59 carats, is renowned for its exceptional “pigeon’s blood” color and impressive size. In 2015, it set a world record for the highest price ever paid at auction for a ruby.
The Rosser Reeves Star Ruby: Weighing 138.7 carats, this unique star ruby exhibits a rare phenomenon called asterism, where a star-shaped pattern appears on the surface when exposed to light.
The Edwardes Ruby: This historic ruby, originating from Sri Lanka, boasts a rich history dating back to the Mughal Empire. It was later acquired by the British East India Company and then found its way to the British Crown Jewels.
5. Treatments and Their Impact on Value
It is essential to consider any treatments a ruby may have undergone, as these can significantly influence its value. Common treatments include heat treatment to enhance color and clarity. While heat-treated rubies are still considered genuine, their value is generally lower than untreated stones.
Some rubies may also be treated with fillers to minimize the appearance of surface-reaching fractures. While this treatment can improve the stone’s appearance, it is considered less desirable and can impact the ruby’s value negatively.
6. Market Trends and Demand
The price of rubies, like any other gemstone, is subject to market trends and fluctuations in demand. Factors such as changes in fashion trends, economic conditions, and consumer preferences can influence the demand for rubies and, consequently, their prices.
In recent years, there has been a growing trend towards ethically sourced and untreated gemstones. This shift in consumer preferences has elevated the value of natural, unenhanced rubies that come with proper certifications and guarantees of authenticity.
Additionally, the market for investment-grade gemstones, including rubies, has seen increased interest from collectors and investors. These buyers often seek top-quality rubies as a store of value and a potential hedge against economic uncertainties.
7. Synthetic Rubies and Imitations
As with many precious gems, the market for rubies has its share of synthetic and imitation stones. Synthetic rubies are created in laboratories and possess the same physical and chemical properties as natural rubies. While they are not rare like natural rubies, they are generally more affordable and can be a popular choice for those seeking the ruby’s appearance without the hefty price tag.
Imitation rubies, on the other hand, are made from different materials, such as colored glass or garnets. While they may resemble natural rubies, they lack the inherent characteristics and value of genuine stones. It is essential for buyers to be cautious and ensure they are purchasing from reputable sources when investing in rubies.
8. Ruby Mining and Sources
The majority of rubies in the market today come from a few primary sources, with each location producing gems of varying quality. Notable ruby mining locations include:
Myanmar (Burma): Historically one of the most significant sources of high-quality rubies, Burmese rubies are renowned for their intense red color, often described as “pigeon’s blood red.” Political and ethical concerns have affected the availability of Burmese rubies in the international market.
Thailand: Thailand has been a prominent source of rubies for centuries, and Thai rubies are well-regarded for their excellent color and clarity. However, much like Burmese rubies, the availability of high-quality Thai rubies has dwindled in recent years.
Mozambique: This East African country has emerged as a significant source of rubies in recent times. Mozambican rubies are valued for their vibrant red color and relatively larger sizes compared to Burmese and Thai rubies.
Madagascar: Madagascar has also become a notable source of rubies, producing gems with varying qualities, including some with fine color and clarity.
9. Ruby Certifications and Appraisals
When purchasing a ruby, especially a high-value one, obtaining proper certifications and appraisals is crucial. Reputable gemological laboratories, such as the Gemological Institute of America (GIA) and the American Gemological Laboratories (AGL), provide reliable assessments of a ruby’s quality and authenticity.
An appraisal from a certified gemologist or a professional jewelry appraiser is also necessary to determine the ruby’s current market value. These appraisals take into account the gem’s quality, weight, origin, and any potential treatments.
Conclusion
In conclusion, the question “Is ruby stone expensive?” can be unequivocally answered with a resounding yes. The rarity of high-quality natural rubies, coupled with their historical significance and cultural associations, contributes to their prestigious status in the world of gemstones.
The value of a ruby is determined by its color, clarity, cut, and carat weight – the four Cs of gem grading. Untreated, high-quality Burmese and Thai rubies with a vivid red hue command the highest prices in the market. However, newer sources like Mozambique and Madagascar have also produced exceptional rubies that are increasingly gaining recognition.
Investing in rubies requires caution and expertise, as synthetic rubies and imitations are prevalent in the market. Buyers should seek certification from reputable gemological laboratories and acquire appraisals from qualified professionals to ensure they are acquiring genuine and valuable gemstones.
Overall, rubies continue to be a symbol of luxury, passion, and timeless beauty, captivating the hearts of gem enthusiasts and collectors worldwide. With their enduring appeal and remarkable scarcity, rubies will undoubtedly remain a coveted and cherished gemstone for generations to come.
