Chiswick Auctions saw an amazing result for a rare 10.51 carat natural Burmese ruby ring at its jewellery sale in London yesterday (Sept 17).

The ring, from a private European estate, sold for £462,500 (incl. BP), which is more than 18 times its’ pre-sale low estimate of £25,000. This set a new house record for Chiswick Auctions.

Commenting on the sale, head of jewellery at Chiswick Auctions, Sarah Duncan, remarks: “We are delighted with the result of this extraordinary ruby. Natural rubies above 5 carats are very rare and one over 10 carats is exceptional, so we knew that it might attract a lot of attention. Rubies of this size infrequently come onto the market and because of this and its outstanding quality, bidding was as expected, extremely competitive.”

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The ring went to an undisclosed international buyer on the telephone.

The piece was accompanied by two gemmological reports that confirmed it was natural and unheated.