17.97-ct Burmese Ruby Fetches $5.4m
November 17, 24
(IDEX Online) - A huge 17.97-carat Burmese ruby sold for $5.4m, just short of its high estimate, at Phillips' Geneva Jewels Auction: Three.
The brilliant cut/step cut oval ruby (pictured), with no indications of heating, was set in a ring between two pear-shaped white diamonds.
"A natural ruby from Burma of this exceptional size and quality is very rare and exceptional and can thus be considered a true treasure of nature," said SSEF (Swiss Gemmological Institute) in an appendix to its grading report.
The ruby and diamond ring carried a pre-sale estimate of $4.8m to $5.5m.
Phillips said the auction raised a total of $13.8m and 77 per cent of the 112 lots were sold.
Among the items that failed to sell on 11 November was a ring set with a 5.09 carats pear-shaped fancy intense pink diamond with a $2m to $3.5m estimate.