Ruby Value: Understand How to Get The Most When Selling Ruby Jewelry

The quality of a ruby, like any gemstone, is largely determined by the Four Cs: Color, Clarity, Cut, and Carat weight.

Understanding these elements and how they influence a ruby’s value is essential to getting the best price for your ruby.

The Importance of Color in Ruby Pricing

Color is the most significant factor in determining a ruby’s value. When we talk about color, we’re actually referring to three separate aspects: hue, saturation, and tone.

• Hue is the basic color of the ruby. Although rubies are generally red, they can also exhibit shades of pink or purple.
• Saturation refers to the intensity or purity of the color. A ruby with high saturation will display a rich, vivid color, while a ruby with low saturation might appear dull or washed out.
• Tone is the lightness or darkness of the color, ranging from light to dark.

The most valuable rubies possess a pure red hue, high saturation, and medium tone. These are known as ‘pigeon’s blood’ rubies, a term that refers to the highly prized, vibrant red color of these stones.

The hue, saturation, and tone can vary depending on the ruby’s origin. For example, Burmese rubies tend to be more red, while Thai rubies can often have a brownish tinge.

To accurately evaluate the color of your ruby, consider using a color chart or a gemologist’s loupe. This can help you compare your ruby’s color with other examples, giving you a better idea of its value.

Why ‘Pigeon Blood’ Rubies Are the Most Expensive

The term ‘pigeon blood’ refers to rubies that possess a highly saturated, pure red color:

The high demand for this color, combined with its rarity, means that ‘pigeon blood’ rubies command the highest prices in the market.

The Impact of Ruby Origin on Value

Rubies are found all over the world and possess distinctive qualities that correspond to their country of origin.

• Burmese rubies, particularly those from Mogok and Mong Hsu, are considered the most valuable due to their distinctive deep-red color and the frequency of “pigeon blood” rubies found there.
• African rubies from Mozambique and Madagascar are the second most popular, known for their dark-red color tinged with reddish-purple.
• Rubies from other countries such as Sri Lanka, Thailand, Vietnam, Australia, the United States, and Nepal also have value, but these are generally not as highly regarded or valued as Burmese rubies.
• Rubies from Kenya, Tanzania, Afghanistan, and Pakistan.

The Effect of Treatments on Ruby Pricing

Rubies that have not been heated or treated in any way to enhance color are the benchmark and are priced the highest. However, completely untreated rubies are quite rare and heat-treated rubies are much more frequently found.

The value difference between a heated and unheated ruby can be significant, especially for larger stones and those of high quality.

For instance, an unheated Burmese ruby of high quality could cost up to $20,000 per carat, while a comparable heated ruby might cost around $7,000 per carat.

The difference in price for African rubies between heated and unheated is less dramatic, with a 1 carat unheated ruby valued up to $2,000 per carat and a heated ruby of similar qualities costing approximately $1,500 per carat.

Clarity, Transparency, and Ruby Value

Clarity in rubies refers to the presence or absence of natural inclusions or flaws, such as cracks, bubbles, or foreign materials. A general rule is that the value of a ruby increases as its clarity improves.

All natural rubies have some level of inclusions, and rubies are generally more included than other gemstones like sapphires.

“Eye-clean” rubies (those free of inclusions visible to the naked eye) are rare and command higher prices.

However, some inclusions, if they create a desirable optical effect, can enhance the value of the ruby, such as star rubies or those with a “silk” appearance.

Examination of a ruby’s clarity and inclusions is best done using a magnifying glass or a microscope.

If a ruby doesn’t appear to show any inclusions at all, it could indicate that the ruby has undergone some treatment or is synthetic.

How cut and shape affects ruby pricing

The cut of a ruby significantly contributes to its overall value.

This encompasses not only the shape of the gemstone but also its proportions, symmetry, and polish, all of which affect its brilliance and appearance.

The “cut” in this context is not just about the ruby’s shape, but also about how well it has been shaped and faceted. The quality of the cut can also influence how well the ruby displays its color and clarity.

There are many shapes and styles of cuts for rubies, including round, oval, cushion, pear, marquise, and emerald cuts. Certain cuts may command higher prices due to their popularity or the skill required to achieve them – oval and cushion cuts are popular for their elegant and classic appearances, and are often priced higher.

Some cuts require more material to be removed from the raw gemstone, which can increase their cost. Round and emerald cuts, for instance, are generally more wasteful in terms of material compared to other shapes and therefore may command higher prices due to the larger initial size of the raw gemstone needed.

The proportions and polish of a ruby also play a part in determining its value. Proportions refer to the balance between the size, shape, and weight of the ruby. Unlike round diamonds, there is no recognised standard from GIA or any other grading authority for what constitutes a well-cut ruby. However, a well-proportioned ruby will have a good balance between these three factors, contributing to its overall beauty.

The polish of a ruby refers to the smoothness of its surface, which affects how well light reflects off it and therefore the ruby’s shine.

The most valuable rubies are therefore usually those that have a well-executed cut that showcases their color and clarity, are of a popular and flattering shape, have good proportions, and exhibit a high-quality polish.

The Influence of Carat Weight on Ruby Pricing

As with other gemstones, ‘carat’ refers to the weight of a ruby, rather than it’s size, with one carat equalling 0.2 grams.

Rubies are denser than many other gemstones, which means they tend to appear smaller than other stones of the same carat weight.

Although it’s one of the easier factors to measure, carat weight is not the most influential factor in determining a ruby’s value.

However, when all other factors are the same, the value of a ruby increases exponentially, rather than linearlty, with an increase in carat weight. Larger rubies are much rarer and therefore more expensive than smaller ones.

To measure your ruby’s carat weight accurately, a digital scale or a calibrated gemstone gauge can be used.

How much is a 1 carat ruby worth?

As we’ve seen, there are many factors that contribute to the value of a ruby, and there’s no single answer to this question.

For instance, a low-quality 1 carat ruby with a dull color, poor clarity, and an irregular cut might be valued at around $100-$200.

On the other hand, a high-quality 1 carat ruby with a vivid pigeon’s blood color, excellent clarity, and a well-proportioned cut could be worth around $10,000-$15,000.

An exceptional 1 carat ruby with a rare origin, such as Burma or Mozambique, along with a certificate from a reputable lab, could be valued at around $20,000-$30,000 or more. However, it’s important to note that these are rough estimates, and the actual value of your ruby may vary depending on market conditions and the buyer’s preferences.

How much is a 2 carat ruby worth?

A 2 carat ruby can have an even wider range of values than a 1 carat ruby due to its increased rarity and size. For example, a low-quality 2 carat ruby with a brownish color, poor clarity, and an irregular cut might be worth around $300-$500.

A high-quality 2 carat ruby that displays a vivid pigeon’s blood color, excellent clarity, and a well-proportioned cut could command a price of around $30,000-$50,000. An exceptional 2 carat ruby from a rare origin such as Burma or Mozambique, accompanied by a certificate from a reputable lab, could be worth around $60,000-$100,000 or more.

Again, these are rough estimates, and the actual value of your ruby may fluctuate based on market conditions and the preferences of prospective buyers.