World’s largest gem-quality ruby, the 55.22 carat Estrela de FURA, fetches record $ 34.8 million at Sotheby’s auction

The stunning Mozambique ruby has set a new world record at Sotheby’s Magnificent Jewels sale, for the highest price commanded by a ruby (or any coloured gemstone) at any auction

On June 8, 2023, a significant new benchmark was set in the gems and jewellery industry, particularly for rubies, as the extraordinary ‘Estrela de FURA’, a 55.22 carat ruby, the largest gem quality ruby of its kind ever to appear at an auction, was sold for a staggering $ 34.8 million, at the Sotheby’s Magnificent Jewels sale.

The record-breaking price of $ 34.8 million for the Estrela de FURA surpasses the previous record held by the ‘Sunrise Ruby,’ a 25.59-carat Burmese stone that sold for $ 30.3 million at Sotheby’s Geneva in May 2015.

Dev Shetty, Founder and CEO of FURA Gems, called it a remarkable achievement, marking a monumental milestone in FURA Gems’ incredible journey. “In just five years, our company has experienced extraordinary growth, culminating in a historic moment where we proudly set a world record for any ruby or coloured gemstone sold at an auction. Estrela de FURA 55.22 is a once-in-a-generation discovery, the ultimate representation of FURA Mozambique rubies. This ruby is a gift from Mother Earth, and its new owners will carry an enormous legacy for many years to come. Today’s achievement not only validates our belief but also marks a significant achievement for FURA Gems, and sets a precedent for Mozambique rubies, elevating them to the esteemed status of their Burmese counterparts. I am particularly proud of this accomplishment, which recognizes the commitment and hard work of our team. I take this opportunity to thank the community and Government of Mozambique for its continued support.”

Quig Bruning, Head of Sotheby’s Jewelry, Americas, commented on the result of the sale, stating: “Today, we witnessed the historic sale of a Mozambican ruby, one of the most exquisite and important gemstones to ever hit the auction block. It’s difficult to express the range of emotions I felt when I first laid eyes on the Estrela de FURA 55.22, but to put it simply, I was entranced. With its unprecedented size, piercing colour and rare degree of optical transparency and clarity, it truly deserved the record-breaking price today, as it now joins the ranks of the world’s most legendary gemstones.”

The awe-inspiring Estrela de FURA, recently cut from an exceptional 101-carat rough ruby, was discovered at FURA Gems’ ruby mine in Mozambique, one of the largest ruby deposits in the world, in July 2022. It was then named ‘Estrela de FURA’ (Star of FURA in Portuguese). The name pays homage to its exceptional depth of colour and size while highlighting Mozambique as a rich source of premium-quality rubies. Even in its rough, untouched state, ‘Estrela’ was considered an exceptional treasure of nature, with experts marvelling at its fluorescence, outstanding clarity and vivid red hue— a colour traditionally associated only with Burmese rubies.

In its masterfully crafted, newly formed state, it re-emerged as the largest gem-quality ruby to ever appear at an auction. Rubies of this magnitude and significance are exceedingly rare, with only two examples having surpassed the $15 million mark at any auction, making the unveiling of this flawless gem a landmark event.

Retail Jeweller World News