The Value of Rubies

Did you know that Kublai Khan offered a city for the price of a Ruby? No wonder ruby is valuable in 2018! Collector’s favorite for ages, Rubies have a long string of unknown myths, history and uses. Moreover, rubies were once priced higher than diamonds! If you want to invest in red gemstones, it is best to assess the value of rubies with the expert's guide below. 

How are Rubies formed?

Rubies are formed by the complex process of crystallization. These red gemstones are second only to diamond in hardness. As a result, rubies form when chromium oxide enters the mineral conundrum (Aluminum oxide). 

How is a Ruby named 

The gemstone name ruby comes from the Latin word ‘ruber’, meaning red. Moreover, the glowing blood red color of rubies gave its name. 

Alternate Names of Ruby 

Manik Ratna, Ratnaraj, Ratna Nayaka, Rubi, Pigeon Blood Stone and Humanity Stone; 

Origin and Sources of Ruby 

Myanmar (Burma), Pakistan, India, Nepal, Cambodia, Scotland, Japan, Vietnam, Madagascar, and Afghanistan are the chief sources of ruby today. The rarest best rubies come from Myanmar and India. 

Attributes and Value of Rubies

Value of Ruby depends on its cut, clarity, color, carat, origin and dynamic patterns or optical phenomena. In addition, ruby contains the feminine energy of ‘Chi’ or ‘Yang’, according to ancient texts. 

• Hardness: 9.0 on Mohs 
• Density: 4.02
• Colors: Red, Pink, Orange, Brown, Purple, and Gray; 
• Chakra: Base and Heart Chakra
• Zodiac: Capricorn 
• Fluorescence: Red 
• Price per carat: $400,000 

Historic Value of Rubies

King of Gemstones is Ruby, used in Asia since 2500 BC. Ruby contains powers of rebirth to prosperity when used right, according to Hinduism. Hence, the ancient thought Rubies were an eternal symbol of ‘bloodline of humanity’. 

Explore the historical value of rubies from Bible to Burma below. 

• Ruby in the Holy Bible

Ruby appears in the Holy Bible around 2000 BC. It was one of 12 supreme stones in the Bible. You can find it in the Book of Job (28:18) and Proverbs (3:15 and 31:10), in the Old Testament. Moreover, Ruby appeared on Aaron’s breastplate for protection by God. 

• Ruby in World History 

Ruby in Burmese History

The record of ruby mining in Burma (Myanmar now) can be traced before the biblical verses on Ruby. The Burmese use of Rubies traces back to 2500 BC. According to folklore, rubies were gifts for giving superior strength to warriors. Even today, the most valuable rubies come from Myanmar!

Ruby in Chinese History

In Chinese literature from 200 BC, mentions of Ruby exports via the North Silk Road is evident. While the Silk Road carried Rubies westward, scriptures show the use of rubies to light chambers of emperors domestically. 

Ruby in Indian History

According to ancient Indian Scriptures, Ruby holds the highest gemstone powers. Ruby is the first stone God made before creating man. Popular as the king of stones in India, Rubies is one of the chief offerings to Lord Krishna. Moreover, it was believed to grant the boon of taking birth as an emperor in the next life!

Ruby had castes in the Indian system of hierarchy. Oriental Ruby was of highest stature, called Brahmin, followed by Rubicelle or ‘kshatriya’. 

Ruby in Roman History 

The value of a ruby is exponential in Roman culture. Ancient Romans called them carbunculus when brought from the Asian counties like India, Ceylon (Sri Lanka) and Burma. In the earliest Roman medicines and apothecary, you can find ruby antidotes used widely!

Ruby in British History 

From ruby engagement rings in the days of Fergie, the Duchess to coronation stones, Ruby was widely used for ceremonial uses in Britain. The black prince’s ruby was once popular as a priceless ruby, but was discovered to be spinel, later! 

• Ruby in the 20^th Century 

Price-chart of rubies has drastically changed in the last few decades. 

Ruby was priced at $2,500 per carat, 40 years ago. 
By 1980, the price of ruby per carat had already hiked to $19,000. Although it fell by $10,000 per carat in ten years, Ruby regained $19,000 per carat 20 years ago. In 2005, per carat, Classic Ruby price was $27,000. 
Today, one carat of ruby is sold at even $43,900!

With celebrities like Jessica Simpson and Eva Longoria flaunting their Ruby-Diamond engagement rings, wedding rubies are popular now. In addition, Paris Hilton and John Mayer are two other popular Ruby lovers around the world!

Uses of Rubies

From jewelry to drilling and laser, rubies are useful in many fields across the globe. Hence, rare rubies are pricier higher than diamonds!

Value of rubies in industries is high due to its extraordinary attributes. Explore the complete uses of ruby if you’re thinking of investing on this pretty red stone.

• Industrial

Rubies in industrial work are popular just like diamonds. As rubies are smooth, they are made useful as bearings in luxury watches. In addition, rubies are also perfect to transmit light sans energy loss. Hence, the value of rubies in lasers for military and surveyor equipment is high.

• Holistic Therapy 

Rubies are popular in a variety of therapies such as physical, emotional and spiritual. 

From ruby elixir to massage and programming, the ruby gemstone powers the heart chakra in the body. It relieves ailments of the circulatory system too. When used for grief and depression, ruby can attract true love, according to folklore. 

• Jewelry

From wands to earrings, bracelets, and pendants, ruby is an attractive gemstone widely available in varied types of jewelry. Moreover, ruby engagement rings are popular in Hollywood! You can use precious metals such as silver, platinum, and gold for designing your precious ruby engagement ring.  

• Feng Shui

In addition to spiritual and physical healing, rubies were used to worship the Goddess of War, Sekhmet in Egypt. Rubies contain the energy of fire, according to Feng Shui. When kept in the Southern area of your home, or cabin, the red stone spreads vibes of harmony. 

Investment Grade Value of Rubies 

The priciest gemstones of the red conundrum, Rubies pricier than diamonds when found in large quantities. High-quality rubies originating from Burma, India and Sri Lanka possess high-value for their rich color and inclusions!

Investing in ruby is a wise decision as rare ruby is scarce. Moreover, the value of rubies in science and technology is growing due to the attractive attributes of Ruby. From faceted ruby to nuggets and rough stones, there are multiple varieties of rubies to invest in 2018. 

Ruby prices are based on the cut, clarity, carat, color, and source of the red conundrum. Moreover, rubies are becoming trendy and rare. An 8-carat ruby sold at Christie’s in 2006 was a record-price at $400,000 per carat. Hence, Classic Ruby investments are good for large profit margins! 

In a Nutshell 

Although you might think of a glowing red when you think of rubies, the red stone is available in a variety of colors. The price is the value of the rarity, origin, weight, color, and clarity of the stone. If you’re thinking of buying rubies next, consult the expert’s checklist on the complete guide to ruby beforehand. It will enlighten you on the history, lore, and uses of ruby to avoid costly investment mistakes.

Have more doubts about the value of rubies? Reach out to us via Email or Phone, we'd love to answer any questions you might have.