Sotheby’s Sells ‘Sunrise Ruby’ for $29 Million
May 15, 16
(IDEX Online News) – Sotheby’s has announced that it has sold a rare ruby and diamond ring – the ‘Sunrise Ruby’ for CHF28.25 million ($29 million) at its recent Magnificent Jewels and Nobel Jewels auction in Geneva, Switzerland.
The Cartier ring is set with a 25.59-carat Burmese ruby of “pigeon blood color” and with no indications of heating. The ruby is set between shield shaped diamonds weighing 2.47- and 2.7-carats, respectively.
The final sale price was well in excess of the reserve price, which was estimated at CHF11.7 million to CHF17.5 million ($11.8 million to $18 million). It also represents a world-record price for a ruby at auction.