Scarcity of natural and unheated ruby in the market is a by-product of the seizing of mining operations in Mogok by the military junta in Burma and the ruby supply went quite dry till the Mong Hsu ruby mines were found.

However, the quality of ruby here were nowhere near the pigeon blood red rubies of Mogok. So most of this ruby was treated to improve the appearance and sale value. Most of the Burmese Mong Hsu rubies in the market should be assumed to be treated unless stated otherwise.

Later natural unheated ruby was found in Africa in significant yields in the mines of Tanzania as well as Mozambique – the Winza mine ruby of Tanzania and the Niassa ruby from Mozambique . The advantage that these two sources have is in terms of clarity and color. The counterparts from other mines in the same countries produce inferior grade marble type rubies.

A practised eye can discriminate on basis of sources, the Niassa is fairly easy to distunguish from Winza as blue color zoning is quite common in Winza ruby is absent here and gives a better reddish pink color. A good natural unheated ruby can beat any other gem in terms of value.

Burmese Ruby Bvlgari Ring

Blue Diamond Ring Image jewelinfo4u.com

The record price paid for a ruby was $3.6 million, at Christie’s in St. Moritz in 2006 – An 8.62 carat unheated cushion cut Burmese ruby set in a Bvlgari ring. The price of $425,000 per carat  set a new record for natural ruby price per carat, which was beaten only recently by a blue diamond ring in April 2012 at Sotheby’s New York Magnificent Jewel Auction. The fancy diamond sold for $2.4 million, or $687,712 per carat . The 3.18 ct. VS1 marquise stole the thunder.

To read about rubies as an investment option and their true value please click here for an article on the same in The Economist .

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