One of the most popular traditional jewelry stones, ruby is exceptionally durable. The colors of the July birthstone always red can reach vivid levels of saturation. Fine-quality rubies are some of the most expensive gemstones, with record ruby prices over $1,000,000 per carat. However, rubies are also subjected to more treatments than almost any other gem. For this reason, ruby prices can range from a few hundred dollars a carat to thousands of dollars per carat.
Few other gems have as much myth, lore, and romance surrounding them as rubies. Over the centuries, many cultures have associated them symbolically with wealth and power. One of their chief attractions was the protection from misfortune and illness they supposedly afforded their lucky owners.
As the science of gemology developed, many historically important rubies, such as the famed Black Prince's Ruby of the British crown jewels, proved to be other red gems, most often red spinels. However, many famous, genuine rubies have fascinating histories, too.
Large, gem-quality rubies can be more valuable than comparably sized diamonds and are certainly rarer. In fact, smaller blue sapphires (1-3 cts) are relatively abundant compared to small, gem-quality rubies. As a result, even small rubies have relatively high values. For example, the price of this 1.52 ct ruby may start at $5,500 per carat, depending on its clarity.
This incredibly large gemstone is an investment grade gemstone.
