Chiswick Auctions in the United Kingdom set a house record last week with the sale of a 10.51-carat natural Burmese ruby ring.
The piece, from a private European estate, went for £462,500 (C$757,762)—more than 18 times its modest pre-sale estimate of £25,000 (C$40,955).
“We are delighted with the result of this extraordinary ruby,” says Sarah Duncan, Chiswick’s head of jewellery. “Natural rubies above five carats are very rare and one over 10 carats is exceptional, so we knew that it might attract a lot of attention.
“Rubies of this size infrequently come onto the market. Because of this—and its outstanding quality—bidding was extremely competitive.”
The ring, which was accompanied by two gemmological reports confirming the ruby is natural and unheated, was purchased via telephone by an undisclosed international buyer.