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.”
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.