Ruby has always occupied a very prestigious position in the world of jewelry, and its price is often staggering. Why is it so expensive? This involves many complex and unique factors, from the difficult process of its formation, to its own excellent quality characteristics, to the particularity of the origin and the supply and demand relationship of the market, each link has an important impact on its high price. The following will explore in detail why rubies are expensive.
The extreme harshness of the formation conditions
Unique geological environment requirements
Ruby is a corundum mineral, and its formation requires a specific and extremely harsh geological environment. It is usually born in the high temperature and high pressure environment deep in the earth, and only under such extreme conditions can aluminum and oxygen be combined to form alumina crystals, and the trace presence of chromium gives the crystal its iconic red color, making it a ruby.
For example, in some ruby mining areas in Myanmar, the underground rocks have experienced long plate movements and strong magmatic activity before they have the basic conditions for the formation of rubies. The geological structure of these areas is complex, and magmatic activity brings rich mineral composition, but also provides enough energy and pressure to promote the gradual growth of ruby crystals over a long period of time. However, such a suitable geological environment for ruby formation is extremely rare on the Earth, only a few specific regions, such as Myanmar, Sri Lanka, Thailand and other parts of the natural conditions for the formation of ruby. This limits the production of rubies from the source, making it a naturally scarce gemstone resource.
Long time precipitation process
The formation of ruby is not overnight, but needs to undergo a long time to precipitate. It can take millions or even hundreds of millions of years for the initial mineral elements to start accumulating and slowly crystallize into crystals with gemstone quality. During these long years, ruby crystals need to continue to grow in a stable geological environment, and any small geological changes may affect their growth process, resulting in defects in crystal structure or growth interruption.
For example, a small earthquake or a small shift in the earth’s crust can change the pressure and temperature environment of the underground rock, making it impossible for the forming ruby to continue to grow perfectly. This high dependence on time and a stable environment further exacerbates the scarcity of rubies, because in such a long time span, there are few circumstances that can always maintain suitable growth conditions, so that the number of high-quality rubies is extremely limited, and the law of rare things is reflected in the ruby.
Exceptional quality characteristics
Attractive and rare color qualities
The color of a ruby is the core of its value. “Pigeon blood” color can be called the peak of ruby color, this color is rich and bright to the extreme, and with a deep and mysterious blues, like pigeon blood is as bright as drops, unique in many gem colors. The visual impact it emits can instantly attract people’s attention and leave a deep impression in people’s hearts.
Even other high-quality shades of red, such as deep red, positive red, etc., are prized for their unique color charm. Factors such as color brightness, saturation, and evenness will have a significant impact on the price of rubies, and the more colorful the ruby, the higher its value tends to be. For example, a ruby of uniform color with high saturation will fetch a much higher price in the market than a similar stone of lighter color or uneven distribution.
Excellent display of optical effects
Rubies have excellent optical properties. Its high refractive index allows the light to be refracted and reflected several times after entering the interior of the gem, resulting in a bright luster and gorgeous fire color. When the light shines on the surface of the ruby, some of the light is reflected back, forming a bright specular gloss, while the other part of the light enters the inside of the gem, after the refraction and reflection of the internal crystal structure, it is emitted at different angles, forming a gorgeous fire color effect like fireworks.
This optical effect makes the ruby in different lighting conditions can show a charming charm, whether in the sun or in the indoor light, like a shining red star, adding to its high ornamental value and economic value. For example, in some fine jewelry displays, the fire color of the ruby can glow against the surrounding diamonds under the light, creating a luxurious and charming visual feast, and its value is further enhanced.
Durability benefits from high hardness
Rubies have a hardness of 9 on the Mohs hardness scale, second only to diamonds. This property gives rubies excellent wear resistance and durability. It can resist scratching and wear of most substances during daily wear and long-term preservation, maintaining its original shape and luster.
Compared with some other softer gemstones, ruby does not need too careful care to maintain its beauty for a long time, which also makes it more practical and valuable in jewelry making, and can be designed into a variety of complex styles to meet the needs of different consumers. For example, rubies can be carved into exquisite patterns or embedded in various metal rings, necklaces, pendants and other jewelry, without worrying about being easily damaged, its high hardness for jewelry designers to provide a broad creative space, but also enhance its competitiveness and price in the market.
The important influence of origin factors
The reputation of a famous place of origin
Rubies from certain origins are known worldwide for their unique qualities, which also add important weight to their price. Myanmar is one of the most representative production areas. Myanmar’s rubies are praised for their bright color and pure texture, especially the rubies produced in the Mogok region of Myanmar, whose “pigeon blood” color is regarded as the best in rubies. Since the excellent quality of Myanmar rubies has long been well-established in the market, consumers are often willing to pay a higher price for them.
Other origin such as Sri Lanka, Thailand, etc., also have their own characteristics, the popularity and reputation of the origin to a large extent affect the price positioning of ruby. For example, Sri Lankan rubies are usually soft in color, high in transparency, and have a unique elegant temperament, which is also quite popular in the market; Thailand’s ruby is relatively dark in color, with a certain purple tone, and its unique style has also attracted many consumers and jewelers.
Scarcity and control of origin
The scarcity of resources in some high-quality ruby areas and local government control measures will also cause prices to rise. For example, with the gradual reduction of ruby resources in Myanmar, the difficulty of mining is increasing, and the local government’s strict management of ruby mining and export has limited the supply of Myanmar ruby in the market, and the price has naturally risen.
The scarcity and control factors of this origin not only increase the difficulty of obtaining rubies, but also further enhance their preciousness and value in the market. In addition, emerging ruby producing areas such as Madagascar, although to a certain extent increased the supply of the market, but due to its relatively limited production, and quality stability to be further improved, it is still unable to have a greater impact on the price of ruby in traditional famous producing areas, but in the overall market environment, further highlights the preciity of high-quality ruby.
The role of market supply and demand
Steady demand growth
In the jewelry market, ruby has always had a steady and growing demand. It is regarded as a precious jewelry material, used to make a variety of high-end necklaces, rings, earrings and other jewelry, to meet the needs of consumers for the pursuit of beauty and status symbols; It is also favored in the field of collection investment, and many investors collect ruby as an asset with the potential to preserve and increase value.
With the development of the global economy and the improvement of people’s living standards, the demand for rubies is expanding, especially in some emerging market countries, and the consumer group of rubies is growing, which provides a solid market foundation for its price rise. For example, in some internationally renowned jewelry auctions, high-quality rubies are often able to fetch remarkable high prices, attracting the attention of many collectors and investors, and further stimulating the market’s enthusiasm for ruby demand.
Limited supply can hardly meet demand
Compared with the growing demand, the supply of rubies is relatively limited. As mentioned above, factors such as harsh formation conditions, scarce origin and difficult mining have restricted the supply of rubies on the market. Even after the discovery of some new places of origin, the production of rubies that can meet high quality standards is still small.
This imbalance between supply and demand makes ruby in the market in short supply, and the price continues to rise. Moreover, the ruby mining and processing process requires a lot of human, material and financial investment, from the exploration and mining of the mining area, to the screening, cutting, polishing and other links, each step is faced with many challenges and cost pressure, which also limits its supply scale to a certain extent, further pushing up the price.
Conclusion
The reason why ruby is expensive is because of its rare formation conditions, excellent quality characteristics, the influence of famous origin and the combined effect of market supply and demand. The difficulty and length of its formation process has created a rare number, and the excellent color, optical effect, high hardness and other qualities make it a leader in jewelry. The reputation and scarcity of the origin further enhance its value, coupled with the contradiction between the steady growth of demand and limited supply, making the price of ruby in the market remain high.
Whether it is for jewelry lovers, collectible investors or jewelry industry practitioners, understanding why rubies are expensive can help to better appreciate, evaluate and utilize this precious gem resource. In the future, with the further scarcity of resources and the continuous growth of market demand, the price of ruby is expected to continue to remain high, and its position in the jewelry industry and investment field will become increasingly important.
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