July Birthstone Report: Rubies Are Red Hot at Auction

Our July Birthstone Report focuses on recent gemstone sales at the world’s premier auction houses, Christie’s and Sotheby’s. And what a time it has been for rubies! In the past two months, a Cartier ruby ring set a new world record…and ruby jewels from distinguished private collections topped their estimates. Let’s take a look:

The Sunrise Ruby from Burma Breaks the World Record at Sotheby’s

Sunrise Ruby set in platinum with white diamonds
The Sunrise Ruby
Photo Courtesy of Bloomberg.com

A Burmese ruby weighing 25.59 carats sold for a world-record $30.42 million at Sotheby’s May 12 Magnificent Jewels Sale in Geneva. The Sunrise Ruby, which was graded with the rare designation of “pigeon’s blood” color, came from a private collection of Cartier jewels.

According to Reuters, Sotheby’s international jewelry division chairman David Bennett said: “It becomes the most expensive colored gemstone that is not a diamond…It completely mesmerized me, in a sense for me it is the stone of my [40-year] career, it’s just a magical stone.”

Aristotle and Jackie Onassis
Aristotle Onassis and Jacqueline Kennedy Onassis on Their Wedding Day in 1968
Photo Courtesy of DailyMail.uk

Christie’s Sells Iconic Ruby Jewels Once Owned by Jacqueline Kennedy Onassis

At the May 13 Christie’s Magnificent Jewels Sale, also in Geneva, a pair of Ruby and Diamond Ear Pendants and a Matching Ring by Van Cleef & Arpels sold as a lot for $302,000. The jewels were presented to Jacqueline Kennedy as a wedding gift by Aristotle Onassis in 1968.

Ruby ear pendants once owned by Jacqueline Kennedy Onassis, a wedding gift from Aristotle Onassis on their marriage.
Ruby and Diamond Ear Pendants
Photo Courtesy of ThePursuitList.com

Each ruby ear pendant is topped by an openwork pavé-set diamond leaf, suspending a detachable cabochon ruby and brilliant-cut diamond cluster pendant. The heart-shaped ring is centered by a cabochon ruby within a brilliant-cut diamond surround.

Burmese ruby and diamond necklace
Burmese Ruby and Diamond Necklace
Photo Courtesy of Forbes.com

A Burmese Ruby and Diamond Cluster Necklace Stuns at Christie’s

The jewelry collection of businesswoman and philanthropist Margaret Adderley Kelly sold for $9.8 million, or nearly double its pre-sale estimate of $5 million, at Christie’s June 16 Important Jewels Sale in New York. The Burmese Ruby and Diamond Cluster Necklace ranked in the auction’s top 10 lots; it sold for $845,000, well above its $600,000 high estimate.

Happy Birthday to all of our July-born OBJ readers!

To learn how to clean and care for precious ruby jewelry, please click here.

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