Factors Affect Ruby Value

Color is the single most significant factor influencing a ruby’s value. The ideal ruby should have a vibrant, intense red with excellent saturation and minimal undertones.

• Most Valuable Color – Pigeon blood red, a rich, slightly bluish-red hue, commands the highest prices.
• Saturation – Deep, vivid red is preferred over pale or overly dark rubies.
• Secondary Tones – Rubies with strong orange or brown undertones are less valuable.

A ruby’s intensity and purity of red directly influence its price, with the best colors fetching over $1 million per carat.

Unlike diamonds, where clarity is a major factor, rubies typically have natural inclusions due to their formation. However, the fewer and less visible the inclusions, the more valuable the ruby.

• Eye-clean rubies (minimal visible inclusions) are extremely rare and command the highest prices.
• Silk inclusions (fine, needle-like structures) can enhance a ruby’s glow but should not cloud transparency.
• Heavily included rubies with visible fractures or cloudy areas have lower value.

Untreated rubies with high clarity are extremely rare, making them highly sought after in auctions and fine jewelry markets.

The larger the ruby, the more exponentially valuable it becomes, especially if it has high color and clarity.

• Fine-quality rubies over 3 carats are significantly rarer than smaller stones and command premium prices.
• Burmese rubies over 5 carats are almost unheard of and can sell for millions per carat.

Since large, untreated rubies are incredibly rare, prices increase exponentially with size rather than linearly.

The geographic origin of a ruby influences its value, with some sources producing more prized gemstones than others.

• Burmese rubies command the highest prices due to their intense saturation and fluorescence.
• Mozambique rubies are growing in value, making them excellent alternatives.

The origin certificate from reputable labs (GIA, SSEF, GRS) enhances a ruby’s value, ensuring authenticity.

Many rubies undergo treatments to improve their color and clarity, but natural, untreated rubies command the highest prices.

• Heat-treated rubies are common and still valuable.
• Lead-glass-filled rubies are much cheaper and often not investment-grade.

Collectors and investors prioritize untreated rubies, especially when accompanied by gemological certification.

A well-cut ruby enhances color intensity, brilliance, and overall appeal.

• Oval, cushion, and round cuts maximize brilliance and are highly valuable.
• Cabochon rubies (smooth, domed cuts) are used for star rubies but are generally lower in price.
• Shallow or deep cuts that reduce color vibrancy lower a ruby’s value.

Well-proportioned rubies with excellent faceting fetch the highest prices, as they enhance natural brilliance.

Market trends also affect ruby prices:

• Record-breaking auctions increase the demand for fine rubies.
• Growing demand in Asia and the Middle East has driven ruby prices higher.
• Collectors seek rare, untreated rubies, increasing their value over time.

Due to its historical significance and consistent appreciation, ruby remains one of the best gemstone investments.