World auction records for ruby, sapphire and spinel.

Ruby, Sapphire & Spinel Auction Records • Under the Hammer • Lotus Gemology

In the world of precious stones, it is common to reference auction prices. Not because they represent the highest prices paid, for they don’t; the finest gems generally trade hands in private sales at prices above the auction market. We reference them because the auction scene is an open reflection of the world gem market. 

Unlike real estate, gems can and do travel, and therefore have a worldwide value. While auction prices do not always accurately reflect the market (due to bidding wars, etc.), they are public, and thus useful for those wishing to better understand prices. But they are not the only tool. Prospective buyers should not just visit auctions, but also the offices of dealers and jewelers. Dip your spoons into as many bowls as possible. In this way readers will begin to develop a taste for pricing.

What follows is a listing of auction price records for ruby and sapphire. We started tracking this data in the mid-1990's while working on Ruby & Sapphire (1997) and have continued to maintain it at Ruby-Sapphire.com, including information with our latest book Ruby & Sapphire: A Collector's Guide (2014). In 2017, we published Ruby & Sapphire: A Gemologist's Guide, with completely updated tables. Unless stated otherwise, all prices are US dollars.

Per carat auction records for ruby and sapphire as of November 2020. Click on the diagram for a larger image.

In 2012, this 32.08 ct Burmese ruby ring by Chaumet sold for a spectacular US$6,736,750, or $209,998/ct, then a total price world ruby auction record. Image © Christie’s

This 8.62 ct Burmese ruby ring by Graff sold for US$8.57 million ($994,040/ct) at Sotheby's Geneva on 12 November, 2014, then a total price world ruby auction record. Image © Sotheby's

The Sunrise Ruby, a 25.59 ct Burmese ruby ring by Cartier sold for US$32.42 million ($1,266,901/ct) at Sotheby's Geneva on 12 May, 2015, a per carat and total price world ruby auction record. It once held the title as the most expensive colored gemstone in the world. Interestingly enough, the gem came up at Christie's 10 May 2023 auction and only fetched $15.7 million. Image © Sotheby's

This lovely matched pair of rubies (14.54 and 13.12 ct) set a then auction per carat and total price record for Mozambique ruby at Tiancheng International's 3 Dec. 2017 sale in Hong Kong. They featured a Lotus Gemology report. Image © Tiancheng International.

 On 8 June 2023, Mozambique claimed its due, when the 55.22 ct Estrela de Fura (Star of Fura) ruby set a new world auction total price record, selling for $34.8 million at Sotheby's New York. Long in the shadow of Burma, this represented a coming out party for Mozambique ruby. While connoisseurs may argue the minutiae, there is no longer any doubt that the finest Mozambique rubies can stand with any on the planet. Image © Sotheby's

Ruby Auction Records (in US$)

Auction records (per ct) for ruby from 1979 through May 2015.

At 62.02 ct, the Rockefeller Sapphire hails from Myanmar's Mogok Stone Tract. It sold at Christie's NYC 11 April, 2001 sale for $3,031,000 ($48,871/ct), at the time both a per carat and total auction record for sapphire. Image © Christie's

The "Jewel of Kashmir," a magnificent 27.68 ct sapphire set a new per carat auction record for sapphire on 7 October 2015, when it sold for $6,745,688 ($243,703/ct) at Sotheby's Hong Kong. Image © Sotheby's 

Weighing in at a massive 392.52 ct, the Blue Belle of Asia set a new auction record total price for sapphire, being hammered down at US$17,295,796 at Christie's Geneva's 11 November 2014 sale.  Image © Christie's

Sapphire Auction Records

Sapphire auction records from 1979 through 2015.

2017 was the year of the padparadscha. This 8.01-carat padparadscha sapphire fetched US$97,478 per carat at auction. Image © 2017 Sotheby's 

Padparadscha Sapphire Auction Records

Spinel Auction Records

Sadly there is not a lot of information on spinel auction records, since so few of these gems end up at auction. Thus what follows should be regarded as a work-in-progress.

On 24 September 2015, the Hope Spinel sold for $1,464,661 ($29,217/ct), a new auction per carat record for spinel.

The highest total price ever paid for spinel jewelry was for this Imperial Mughal necklace, which sold in 2011 for a princely US$5,214,348. Image © Christie’s