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Ruby gemstone fetches $34.8 mln in auction

Ruby gemstone broke records in New York, fetching an astounding amount of $34.8 mln in an auction event.  

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Ruby gemstone fetches $34.8 mln in auction
GNN Media: Representational Photo

New York: In a momentous auction event, the Estrela de Fura, a 55.22-carat ruby, achieved an astonishing price of $34.8 million at Sotheby’s in New York, setting a new record for the gemstone.

Derived from a rough stone weighing 101 carats discovered in Mozambique's Montepeuz ruby mine, the Estrela de Fura was meticulously cut to perfection.

Its exceptional quality made it the star attraction in a jewelry sale featuring a collection of 100 exquisite pieces.

With an initial bidding price of $21 million, the ruby sparked tremendous interest, eventually selling for an impressive $30 million to an anonymous telephone bidder.

Quig Bruning, head of jewelry for Sotheby's in the Americas, expressed awe at the Estrela de Fura's exceptional rarity, emphasizing the significance of a ruby exceeding 50 carats in size.

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