A 55.22-carat ruby has become both the largest and most valuable gem of its kind ever to sell at auction, netting US$34.8 million on Thursday.
The stone went under the hammer in New York in June, less than a year after Canadian firm Fura Gems discovered it at one of the company鈥檚 mines in Mozambique.
described the jewel as 鈥渆xceedingly rare鈥 and 鈥渢he most valuable and important鈥 ruby ever to come to market. It was named Estrela de Fura 鈥 or Star of Fura in Mozambique鈥檚 official language, Portuguese.
Although record gemstone sales are dominated by diamonds 鈥 coloured ones, in particular 鈥 rubies are also considered among the world鈥檚 rarest and most valuable gemstones. The previous auction record for a ruby was set by the Sunrise Ruby, a 25.59-carat stone found in Myanmar that fetched US$30.3 million in Geneva, Switzerland, in 2015.
Estrela de Fura was cut from a rough stone that made headlines when it was unearthed by miners last July. Originally weighing 101 carats, almost twice as much as in its current form, it was the largest gem-quality ruby ever discovered.
The huge stone was cut into a smaller symmetrical shape and polished, processes that remove impurities and enhance the colour and brilliance of a gemstone before it is put onto the market. According to Sotheby鈥檚, a report from the Swiss Gemmological Institute said that this had 鈥渞esulted in vivid red hues due to multiple internal reflections.鈥
In a statement, Fura Gems鈥 founder and CEO, Dev Shetty, said stones of such size and quality are 鈥渁lmost unheard of.鈥
鈥淔rom the in-depth analysis and study of the stone 鈥 through the process of cutting and polishing 鈥 we have worked with the utmost care and respect for the ruby, recognizing its importance and stature,鈥 he added.
Although rubies were first discovered in Mozambique several decades ago, a significant industry only emerged there after 2009, when a huge deposit of stones was found near the northern city of Montepuez. Mozambique is now one of the world鈥檚 most productive ruby-mining countries.
Estrela de Fura was among the stones unearthed from the region. Sotheby鈥檚 described it as possessing 鈥渙utstanding clarity鈥 and a dark red colour known as 鈥減igeon鈥檚 blood鈥 鈥 a hue more traditionally associated with highly sought-after Burmese rubies.
The auction house鈥檚 head of jewelry for the Americas, Quig Bruning, said in a statement that the ruby could help African stones compete with, 鈥渁nd even outshine鈥 those from Myanmar (the country formerly known as Burma).
The ruby was included in Sotheby鈥檚 鈥淢agnificent Jewels鈥 sale, which was headlined by a 10.57-carat pink diamond, The Eternal Pink, which fetched the same amount as Estrela de Fura. The 鈥渦ltra-rare鈥 diamond was described by the auction house as possessing 鈥渦nparalleled colour and brightness.鈥
Both precious stones were exhibited in various cities, including Dubai, Singapore and Geneva, before they were sold in New York.
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