RAPAPORT... A Burmese ruby ring from a private European estate sold for
more than 18 times its low estimate, setting a new house record at Chiswick
Auctions.
An undisclosed buyer purchased the 10.51-carat, natural, unheated stone for GBP 462,500
($576,817). The London-based auction house had estimated it would fetch at least GBP 25,000 ($31,179).
“Natural rubies above five carats are very rare, and one
over 10 carats is exceptional, so we knew that it might attract a lot of
attention,” Sarah Duncan, head of jewelry at Chiswick Auctions, said last week.
“Rubies of this size infrequently come onto the market, and because of this and
its outstanding quality, bidding was, as expected, extremely competitive.”
Image: The Burmese ruby ring. (Chiswick)
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