The Ruby gemstone is really the king of gems. It is rare, durable, with only diamonds being harder, and beautiful. First found in Burma, now quality rubies are coming out of Tanzania, Mozambique and Iceland.

Ruby is the only coloured gemstone to break the $1million per carat mark. This record was set by the Sunrise Ruby, a 25.59-carat stone set into a ring by Cartier, which sold at Sotheby’s Geneva for $30,335,698 – or $1,185,451 per carat – in 2015. Phew.

Ruby is part of the Corundum Family, which comprises all Sapphires, which come in a variety of colours, not just blue. So a Ruby is a ‘Red Sapphire’. That ruby red colour, is virtually unique in the gem world and can only be challenged by a quality red Spinel. Spinels, although a different mineral, were for many years classified as rubies and the key stone in the British Imperial State Crown is the Black Prince Ruby, which is a Red Spinel. My view is if you want a valued red gemstone go for a quality Burmese red spinel, far better value and likely to appreciate more than a ruby which I believe in today’s markets are becoming overpriced.

Black Prince Ruby – Red Spinel

If your heart is set on a fne ruby then be aware that there are, as a general rule, four types of rubies you can purchase;

1. Natural, where they are, post cutting, as found in the mine, with no treatment required
2. Heated, where man has to finish off what god has started with a bit of gentle heating
3. Heated and Treated, where gemstones with flaws in them are enhanced with heat and additives to realise a much better presented stone.
4. Lab grown Rubies, which is a different subject altogether

and within these first 3 broad categories, there are grades in between.

A Natural 1.73 ct untreated Ruby from my collection [ now in my wife’s engagement ring 🙁 ]

It must be noted  that there is nothing wrong in buying a treated gemstone. They are natural. The treatment is best viewed as a beauty enhancement exercise, the process is akin to a lady visiting to her beauticianist. The key is that you are made aware of the treatment. You do not want to pay a natural stone price for an treated stone or a synthetic.

Your choice of which type of Ruby is determined by budget and size. A ‘Natural’ untreated Ruby could cost between U$5,000 to U$10,000 per carat depending on where in the supply chain you are buying it and its geographical provenance. Some Burmese Rubies command an additional premium and the price increases exponentially the larger the stone.

A ‘Heated’ stone may command anywhere between U$1,500 to U$3,500 per carat and a ‘Heated & Treated’ anything from U$50 to U$150 per carat. One of the great benefits of buying a ‘Heated & Treated’ Ruby is the size of stone you can obtain for the price.

There are also Lab Grown Rubies, aka synthetics,  which are very cheap and in my opinion just look too clean a stone, at the wrong price, to be confused as ‘natural’.

The problem with Rubies is the difficulty for many to tell the difference between the types on offer.

“Top Quality Heated & Treated’ Natural Rubies > 5cts per Stone from my collection

Natural Ruby Ring with Diamonds in 18Kt Gold by Mara [example of a top quality Heated & Treated Ruby]

There are also many lores & tales associated with Rubies;

Its colour,  Red,  symbolises our most intense emotions—love and anger, passion and fury. It’s associated with objects of power and desire—like fast cars and red roses. Early cultures treasured rubies for their similarity to the redness of the blood that flowed through their veins, and believed that rubies held the power of life.

Rubies are mentioned four times in the Bible, in association with attributes like beauty and wisdom. In the ancient language of Sanskrit, ruby is called ratnaraj, or “king of precious stones.”  The name ruby comes from the Latin word ‘ruber’, which means “red.” The glowing red of ruby suggested an inextinguishable flame burning in the stone, even shining through clothing and able to boil water, so some say.

Rubies have become one of the most sought-after gems of European royalty and the upper classes. Many medieval Europeans wore rubies to guarantee health, wealth, wisdom, and success in love.

So if you are set on buying a ruby, work out your budget and then decide if it’s size or purity you desire. Then buy something that appeals to you and make sure you get full disclosure from the seller on any treatments. If they state its a natural stone, with no treatments, make sure you obtain an independent lab certificate. If the deal is too good to be true, then it probably is!

Good hunting