Ruby nets $18million at Hong Kong auction

In the words of Vickie Sek, deputy chairman and director of Christie’s Asia jewelry department, “It’s the year of the ruby at Christie’s Hong Kong,”.

Following a record-breaking ruby necklace sale in July, the exceptional Crimson Flame ruby sold for well-over the pre-sale estimates ($10 – $15million) by reaching a record-price of $18million.

At a cost of $1.2million per carat, this is now the most expensive per-carat ruby in the world.

Graded by the Swiss Gemmological Institute as a natural ruby with no indications of heating, it’s vivid pigeon-blood red colour is characteristic of some of the world’s finest rubies from Mogok, Burma.

Last year, Lawrence Graff re-purchased an 8.62ct Mogok ruby for $8.2million at a Sotheby’s auction, subsequently re-naming the stone the “Graff Ruby”.

Photograph courtesy of Christie’s