10 Carat Natural Loose Rubies For Sale (2024)

What stone is Ruby?

Ruby is the red variety of the species Corundum. Chemically, it is an aluminum oxide. Its name is derived from the Latin word for “Red” – “Ruber”. Trace elements of Chromium are the cause of the red color within corundum. All other colors of Corundum are called Sapphire. To be called Ruby, Corundum must exhibit a certain saturation of red otherwise it becomes Pink Sapphire. Ruby is one of the hardest gemstones with a rating of 9 on The Mohs Scale . It is also one of the world’s rarest gemstones in fine qualities.

How much is Ruby worth?

The value of Ruby is denoted by the 4 c’s of quality, just like Diamonds. Color is by far the most influential of these when it comes to judging quality in a Ruby. The more vivid and pure red a Ruby is, the more valuable. The renowned “pigeon’s blood” red colors mined in Mogok in Burma are considered the finest and most coveted and reach upwards of $100,000 per carat for the larger, finest pieces. However, in recent years a similar color has been discovered in the deposits of Mozambique which have transformed the Ruby market. These are much more affordable, selling for approximately 50% of the Burmese counterparts in their finest grades. Not all Ruby is valuable. Ruby can also sell for very little if it is of low quality or heavily treated. Low grade Cabochon cuts for example can sell as low as $10 per carat whereas as bead qualities sell for pennies on the dollar.

Where does Ruby come from?

Ruby is mined in a number of locations in the world. Historically, the Mogok region of Myanmar (Burma) has produced the finest Rubies but in the past decade, production has tailed off. Mozambique is currently the foremost producer of fine Rubies. Other African countries also produce Ruby, specifically Tanzania Kenya and Madagascar. Some Ruby is also mined in Greenland, under the receding ice shelves and in Australia, India and Russia. However, Asia is still the continent that produces the majority of the world’s rubies with India, Nepal, Pakistan, Sri Lanka, Thailand and Cambodia all being producers. In fact, the formation of the Himalayan Mountain range was responsible for most of these deposits.

What color Ruby is most valuable?

Value in Ruby, like all colored gemstones, is largely driven by color grade. The deeper, more vivid the color, the more valuable. With Ruby, an intense pure Red found in the finest Burmese Rubies is considered the most valuable in the trade. In the GIA color grading system, this is know as R 6/6 and is described as “Pigeon’s Blood Red”. Some Rubies currently mined in the Mozambique Montepuez district also has this color.

How Rare is a Ruby?

Ruby in its finest grades in larger sizes are extremely rare and cost much more than compareable Diamonds. By contrast, the lowest grade Rubies carry very little value and are traded by the ton in countries like India.