Bulgari ring with 8.62-carat Burmese ruby (Christie's Images)
“When a ruby exceeds five carats, and is perfect, it is sold for whatever is asked for it,” Jean-Baptiste Tavernier wrote in 1676. That’s as true today as it was then.
London jeweler Lawrence Graff, for example, paid $3,637,480 at a 2006 Christie’s auction for this cushion-cut 8.62-carat Burmese ruby ring signed Bulgari, setting a per-carat record. Needless to say, the stone was renamed the “Graff Ruby” within hours.
Natural, untreated rubies are among the rarest and priciest gems in the world – which has led to some hard-to-spot fakes, particularly glass ruby composites. Rubies and sapphires are actually the same mineral, corundum, and both have enjoyed favor in high places since ancient times.
Möbius ring with rubies in 18kt gold (spiesjewelrydesign.com)
Hindus believed rubies stood for heat and sensuality and represented the mighty sun god, Surya. A ruby inserted into the flesh was believed to bring invulnerability in ancient Burma.
1.50-carat ruby set in recycled gold by Chris Nelson
In the 16th century, Italian gem expert Camillus Leonardus wrote that rubies would preserve their owners’ health, banish evil thoughts, control amorous desires and reconcile arguments.
The darkening of a ruby was considered a bad omen. Catherine of Aragon, first wife of Henry VIII, is said to have predicted her downfall when a cherished ruby appeared to lose its inner fire.
