Crimson Flame Ruby Sells for Record-Setting $18 Million

The Crimson Flame ruby, a 15 ct. pigeon’s-blood Burmese ruby, sold for $18 million at the Christie’s Magnificent Jewels auction in Hong Kong on Dec. 1.

The Crimson Flame ruby, a 15 ct. pigeon’s-blood Burmese ruby, sold for $18 million at the Christie’s Magnificent Jewels auction in Hong Kong on Dec. 1.

The Crimson Flame ruby, a 15 ct. pigeon’s-blood Burmese ruby

The seemingly unstoppable rise in the value of coloured gemstones was confirmed when, on 1 December 2015, Christie’s Hong Kong set a new record-breaking
price per carat for a ruby.

The ruby was initially estimated at $10 million–$15 million.

The previous record for a ruby was set in November 2014 at Sotheby’s in Geneva when the 8.62ct Graff ruby from the sale of the collection of Greek financier Dimitri Mavrommatis fetched US$8.6 million, or just under US$1 million per carat.

“It’s the year of the ruby at Christie’s Hong Kong,” said Vickie Sek, deputy chairman and director of Christie’s Asia jewelry department. “Following the record-breaking sale of a ruby necklace in June, the Crimson Flame has established a world auction record per carat of $1.2 million.”

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