How much is a ruby worth? Asked Isaac
Hello! I read that you offer appraisals, that’s why I contacted you. Please let me know how much is a ruby worth. During a travel through India, I have bought a ruby but this was long time ago. I heard that gemstones are more expensive these days than ever before. That has made me curious. I hope you can help me. Thank you!
Isaac from New York City in New York
Isaac, thank you very much for contacting the reDollar appraisers. My name is Tamay and I’m a gemstone expert and accredited gemologist. It’s my pleasure to find out for you how much is a ruby worth. Please provide me with as much information as possible so that we can work on a detailed value estimation. Thank you for your trust in us.
reDollar appraiser, Tamay Rostan
Isaac wants to know, how much is a ruby worth?
Isaac: Hi Tamay! Thank you very much for getting back to me so quickly. I have already sent you some photos of my ruby. In addition to that, I have attached a certificate from an Indian gemological institute. I bought the ruby 13 years ago, when I visited India with my wife. I totally forgot that I own such a nice ruby but a newspaper article, relating to gemstones, reminded me of my “souvenir” from India.
Tamay: Isaac, thank you very much for sending me photos of your ruby and the very detailed certificate. Rubies are really beautiful gemstones and belong to the crown jewels of any gemstone admirer.A ruby is a pink to blood red mineral. It is the red variety of a corundum. The red color of rubies is caused by the minor constituent of chromium. Only the red corundum is named ruby, rose and blue colored corundum as well as other color varieties are called Sapphires. It doesn’t surprise me that you bought your ruby in India because India is a very important exporter of rubies and rubies have been mined there for many, many years. Beside India, also Sri Lanka, Thailand, Cambodia, Myanmar (formerly Burma), Afghanistan, Australia, Namibia, Colombia, Japan, Tanzania, Nepal, Madagascar, Mozambique, Pakistan, Australia, the USA and also Antarctica are well-known for their rich ruby deposits. Do you remember what price you paid for your ruby?
Isaac: Oh no, I’m sorry. I don’t know that anymore but I’m sure I didn’t pay a lot. I think it was a bargain.
Tamay: A bargain, that’s good! Let’s see what I can find out by means of your certificate.
Isaac: Oh yes. I’m very excited. Let me know what you think about my ruby’s quality and appearance.
Tamay: The ruby looks really beautiful and it’s not an average stone. The color is deep read and your ruby has a nice brilliant cut and cushion shape. Unfortunately your ruby does not have a pigeon red color grading. If so, your ruby would have an extremely high value. Rubies with a “pigeon blood red color” are the most sought-after rubies on earth and the stones reach regularly skyrocketing prices. Stones like that mostly have their origin in Burma. Your ruby has a weight of 2.27 carats and measurements of 8.59 mm x 6.67 mm x 3.40 mm. The luster, saturation and brightness is excellent. Also the clarity of the ruby is described as eye clean and transparent. All in all a very beautiful ruby. What I can also see from the certificate is that the ruby was thermally treated.
Isaac: Thermally treated? What does that mean?
Tamay: Really valuable and famous rubies have a very rich, dark red color with just a hint of blue tones, a color that reminds of pigeon blood. That’s why I mentioned the pigeon red color before. Rubies which are weakly colored or which show color varieties of brown were often thermally treated. That means the rubies were heated so that they become a richer red color. This treatment is very common and does not significantly reduce the quality of your stone. So don’t worry. Rubies with not heating treatments (enhancements) are very, very rare but if a ruby shows a great color and the stone is not treated in any way it is a real treasure and therefore it has a very high value. Not seldom rubies with no enhancements are 300% – 500% more expensive than heat treated rubies.
Isaac:Oh I’m relieved. I thought it means something really negative.
Tamay: No absolutely not Isaac. Heat treatments on gemstones are a common practice.
Isaac: Tamay, now you know the specifications of my ruby. What do you think, how much is a ruby like mine worth?
Tamay: Because your ruby is a top quality stone I would estimate a fair market value of $2,000-$2,250.
Isaac: Wow that’s not bad. I’m pretty sure I didn’t pay that much money for my ruby.
Tamay: That’s good to hear Isaac. Then you really made a bargain, I hope so. What are you going to do now with your ruby?
Isaac: I’m not sure. I think I will sell it. It’s a nice gemstone but honestly I don’t have any use for it and now that I know the value, I don’t like to keep it. I have so many ideas what I could do with that amount of money. Yes, I’m going to sell it. Would you pay me the price that you have calculated?
Tamay: Yes, we would definitely pay you that price. First I have to check the stone in detail, that means it would be required to have the ruby in our laboratory, but if our personal check confirms the conditions that we have determined, of course we would buy the ruby for the estimated price.
Isaac: That sounds perfect. Don’t let us waist more time. Let’s make the deal Tamay, I have a pretty good feeling with you. You were tremendously patient and your appraisal was so detailed. I appreciate that.
Tamay: Thank you so much Isaac! I’m happy that I could assist you with your concern “how much is a ruby worth”. Sell gemstones with us and we gurantee you a highly transparent and satisfying selling process.
Isaac: Thank you Tamay.