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Monday, 20th February 2006 (5433 views)

A world record price for a ruby was paid at a Christie's jewellery auction on Wednesday, February 15th.

An 8.62-carat ruby ring sold for $3.64 million at Christie's 'Important Jewels' sale in St Moritz. This equates to a world record price of $425,000 per carat.

The Burmese ruby was cut by Bulgari, and featured as the top lot in an auction that also saw a diamond ring sell for $1.83 million.

The new owner of the ruby ring is Laurence Graff, who said: "This is the finest ruby I have ever seen, and I am delighted to own it."

The total amount spent at the auction was $16.73 million, with 262 lots being sold from a total of 352 on offer.

Christie's Switzerland's vice president and head of jewellery, Eric Valdieu, called the auction "the most important sale ever organised by Christie's in St Moritz," according to Diamonds.net.

He continued: "The jewellery market continues to show tremendous strength, especially for diamonds and rare colored stones."

 

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