The rise in the value of Rubies

Ruby is the official birthstone for July, and it has also been used traditionally to celebrate 40th wedding anniversaries.

Ruby belongs to a family of stones called Corundum, which also includes sapphire. Because sapphires can found in a number of beautiful pink-red colours, sometimes it can be hard to tell whether a gemstone is a pinkish-red ruby or a sapphire – a trained gemmologist can tell the difference, and we are always happy to help at PIKE.

Interestingly, there has been a dramatic rise in the value of rubies over the last two years.  We have been surprised at the quick escalation of the value of really beautiful quality rubies (bright, clean stones that have very few inclusions) – rubies have become more expensive due to limited availability and higher demand/popularity, particularly in Asia. Rubies are now extremely rare, much rarer than diamond, and are attracting high prices especially for the top quality – in particular stones of rich blood-red colour (once known as ‘pigeon blood’) pictured below.

photo: www.orlovjewellery.com

It is now rare for any new stones being found to be over 1 carat in size, which has pushed up the values of the larger stones that are already in the market (which may include yours).

Burmese rubies (see below) are also considered highly valuable, particularly stones of 3 to 9 carats or more.

photo: www.gemologyonline.com

Given the increase in the value in these beautiful stones, we recommend that you have any valuations of your ruby jewellery updated at PIKE.

Phone us on 08 8338 3109 or email us at hello@pike.com.au to make a time to see Nicholas about updating your valuations.