Sunrise Ruby Explained

The Sunrise Ruby[1] [2] [3] is the world's most expensive ruby, most expensive coloured gemstone, and most expensive gemstone other than a diamond.[3] [4]

Originally mined in Myanmar, its current name is derived from a poem of the same name, written by the 13th-century Sufi poet Rumi.[5]

Description

It is a 25.59adj=onNaNadj=on Burmese "pigeon blood" ruby, mounted by Cartier and set between heptagonal diamonds weighing 2.47carat and 2.7carat.[6] [7]

It is considered among the rarest of all gemstones. The Swiss Gemmological Institute has described it as "a unique treasure of nature" and praised its "well-proportioned cut, highly attractive colour and fine purity". The Gubelin Gem Lab in Lucerne stated that "such a combination of characteristics is very rare in Burmese rubies of this size." The global chairman of Sotheby's International Jewellery Division, David Bennett, when interviewed on the ruby, stated "during his 40 years in the industry, he has never before seen a ruby of this calibre". In a Gubelin grading report, it notes, "ruby is of Burmese origin" and that "its vivid but saturated color, poetically referred to as pigeon blood red, is due to a combination of well balanced trace elements in the stone, typical and characteristic for the finest rubies of Mogok."[8] Gemstones of the same quality typically form in only small crystals, making this one an "extremely rare" gem.

History

The ruby sold for a record US$30.42 million on 12 May 2015 at a Sotheby's auction in Geneva, Switzerland, to Heidi Horten. It was originally estimated to be worth between US$12 and 18 million prior to auction[9] [10] and bidding started at 11 million Swiss francs or US$11.8 million. Also known as lot 502 of the evening, bidding lasted approximately seven minutes with buyers via phone as the main source of bidding.[11] The Sunrise Ruby greatly surpassed the previous record holder, the Graff ruby ring, which sold for US$8.6 million in November 2014.[12] Its record-setting price has been attributed to the rapid increase in prices for coloured gemstones and public auctions, with figures often "rivaling the performance of the much-sought-after colored diamonds".[13]

Following the death of Horten, the jewel was auctioned by Christie's in Geneva on 10 May 2023 for $14.7 million.[14]

See also

Notes and References

  1. News: At Jewelry Auctions, Color Is King. The New York Times. Ginanne Brownell Mitic. 13 May 2015. 13 May 2015. 19 May 2015. https://web.archive.org/web/20150519034215/http://www.nytimes.com/2015/05/14/fashion/at-jewelry-auctions-color-is-king.html?_r=0. live.
  2. News: Ruby sets record, pink diamond and pearls shine at Sotheby's sale. Reuters. 13 May 2015. 19 May 2015. 11 March 2016. https://web.archive.org/web/20160311133222/http://www.reuters.com/article/us-art-auction-jewels-idUSKBN0NX2GW20150512. live.
  3. News: World's most expensive coloured gem sells for $30m. 13 May 2015. BBC News Online. 13 May 2015. 13 May 2015. https://web.archive.org/web/20150513063509/http://www.bbc.co.uk/news/world-europe-32717029. live.
  4. News: Burmese ruby sells for record $US30 million. The Australian. 13 May 2015.
  5. Web site: Most expensive ruby world record could be broken at Sotheby's Geneva this May. The Jewellery Editor. 12 May 2015. Åse Anderson. 15 May 2015. 18 May 2015. https://web.archive.org/web/20150518092801/http://www.thejewelleryeditor.com/2015/04/most-expensive-ruby-record-could-be-broken-sothebys-geneva/. live.
  6. O'Connor. Tamison. Sotheby's Geneva sale breaks auction world records. 13 May 2015. Harper's Bazaar. 13 May 2015. 19 September 2015. https://web.archive.org/web/20150919090145/http://www.harpersbazaar.co.uk/fashion/jewellery-watches/sothebys-geneva-sale-breaks-auction-world-records. live.
  7. News: Platinum ring with rare Burmese ruby sells for $30.3 million at auction. US News. The Associated Press. 13 May 2015. 19 May 2015. 21 May 2015. https://web.archive.org/web/20150521105724/http://www.usnews.com/news/entertainment/articles/2015/05/13/rare-burmese-ruby-sells-for-303-million-at-auction. live.
  8. News: 'Sunrise Ruby' Poised to Break Price Record at Sotheby's Geneva; Gem Should Fetch $12M to $18M. thejewelerblog.com. 14 April 2015. 19 May 2015. 21 May 2015. https://web.archive.org/web/20150521164031/http://nelsenjewelry.thejewelerblog.com/_sunrise_ruby__poised_to_break_price_record_at_sotheby_s_geneva__gem_should_fetch__12m_to__18m.html. live.
  9. News: Cartier Ruby Sets Record in $161 Million Sotheby's Jewelry Sale. Bloomberg Business. 13 May 2015. Corinne Gretler. 15 May 2015. 17 May 2015. https://web.archive.org/web/20150517085641/http://www.bloomberg.com/news/articles/2015-05-13/cartier-ruby-sets-record-in-161-million-sotheby-s-jewelry-sale. live.
  10. Web site: Neate . Rupert . World's most valuable private jewellery collection goes on display in London . The Guardian . 22 April 2023 . 22 April 2023 . 22 April 2023 . https://web.archive.org/web/20230422071719/https://www.theguardian.com/artanddesign/2023/apr/22/heidi-horten-world-most-valuable-private-jewellery-collection-display-london-christies-geneva . live .
  11. News: 'Sunrise Ruby' Obliterates Two Records at Sotheby's Geneva With a Hammer Price of $30.4 Million. thejewelerblog.com. 13 May 2015. 19 May 2015. 20 May 2015. https://web.archive.org/web/20150520053317/http://murpheythejeweler.thejewelerblog.com/_sunrise_ruby__obliterates_two_records_at_sotheby_s_geneva_with_a_hammer_price_of__30_4_million.html. live.
  12. News: $30m Sunrise Ruby steals the show for Sotheby's. The National. Sananda Sahoo. 13 May 2015. 15 May 2015. 18 May 2015. https://web.archive.org/web/20150518084942/http://www.thenational.ae/business/the-life/30m-sunrise-ruby-steals-the-show-for-sothebys. live.
  13. News: Sunrise Ruby Outperforms Diamond Lots at Sotheby's Geneva May 12, 2015, Jewelry Auctions. 12 May 2015. Lareef Samad. Newsinternetstones.com. 19 May 2015. 19 August 2015. https://web.archive.org/web/20150819141222/https://news.internetstones.com/sunrise-ruby-outperforms-diamond-lots-at-sothebys-geneva-may-12-2015-auctions. live.
  14. https://www.christies.com/lot/lot-6425718?ldp_breadcrumb=back&intObjectID=6425718&from=salessummary&lid=1

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Sunrise Ruby".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.