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May 14, 2015

Rare Burmese Ruby Sells for $30m at Sotheby’s Geneva

By Zahra Al-Kateb

By Zahra Al-Kateb


Image Credit: Sotheby’s

A rare Burmese ruby set in a platinum ring with diamonds has sold for over $30 million, setting a world auction record for any ruby and any gemstone by Cartier, according to Sotheby’s.

The ring, weighing 25.59 carats, was purchased by an anonymous bidder on Tuesday. It featured as a part of the annual Magnificent and Noble Jewels sale by Sotheby’s Geneva.

The stone, known for its “pigeon blood” red color, is originally from Myanmar and had been predicted to sell for between $12 million to $18 million. The stone is set between heptagon shaped diamonds each weighing 2.47 carats and 2.70 carats.

pink diamond

Image Credit: Sotheby’s

A rare pink diamond believed to have once belonged to Napoleon’s niece also sold during the auction, fetching $15.9 million. Known as “The Historic Pink”, the ring was previously part of Princess Mathilde’s collection and is a classic non-modified cushion cut. It has also previously belonged to American heiress and philanthropist Huguette Clark, who died in 2007. Having been kept in the safe of a bank since the 1940s, the piece has only recently reappeared.

A pair of sapphire and diamond earrings from Cartier also sold at the auction for $3.9 million.

The market for colored diamonds and precious stones has never been so dynamic, according to Sotheby’s with pink diamonds being among the rarest.

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