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Interesting auction price

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toomuchB

Shiny_Rock
Joined
Nov 17, 2022
Messages
242
Crazy :eek2:

www.sothebys.com

Collier rubis, "Single Red" | Ruby necklace, 'Single Red' | Fine Jewelry | 2025 | Sotheby's

<p>Serti griffes d'un rubis taille coussin pesant 3.124 carats, <em>longueur 530 mm environ, poinçon français d'import pour l'or 18K (750°/00), poids brut 6.34 g.</em></p><p><br></p><p><em>Accompagnée d'un certificat SSEF no. 143951, en date du 24 janvier 2025 indiquant l'origine de Birmanie et...
www.sothebys.com www.sothebys.com
3.124ct Burmese ruby
No heat
SSEF PG
A Staggering 609,600 EUR which is
656,009 USD or ~$210k per ct

I wish I was in the virtual auction room to see that battle play out.
I've read on PS about shenanigans where dealers bid to try inflate prices and such, but I figured that was with the more headline grabbing pieces, not with a 'small' 3ct ruby (of any quality).

Literally, the cost of the following comparison stone is less than the price of 1 carat of the above stone. Very similar stats, but it appears a bit silkier. Still it puts into perspective the insane price the above stone got:
3.16ct Burmese
No Heat
SSEF PG
Approx 188,495CHF , or $213k or ~$67/ct.

Here's what the 3ct 650k+ ruby looks like. Screenshots below for those who don't want to click links.
While the cut is windowed, I do enjoy the open culet :lol-2:



ruby (4).pngruby (1).pngruby (5).pngruby (9).pngruby (8).pngScreenshot 2025-03-26 at 20-43-45 Collier rubis Single Red Ruby necklace 'Single Red' Fine Jew...png
 
Eeeeeer...
scratchhead.gif


Say that again?
 
It looks a bad fake to me. Absolutely nuts! :roll2:
 
My goodness, I think it’s awful. I see brown tinge and the lack of fluorescence is disappointing.
My wee one requires only a glint of light and she lights up. If those photos are the best of the best, ummmmmm.
 
That 3.12ct. sold for $650,000?! Notice how they have to illuminate the stone with incandescence to bring any life to it. The natural lighting photo/video is much more accurate of what it will look like in person. It's too dark, not true pigeon's blood color (what, SSEF?), terribly windowed, and I'd wager a bet it has little to no fluorescence judging by the apparent iron content. It looks like an inexpensive garnet. This is why provenance bothers me (at times). You could find an unheated Mozambican ruby that blows this one out of the water for a fraction of the price. Hard pass!
 
Avondale said:
It's flat as a pancake.

I can't believe someone paid 600k for that.
Click to expand...

Basically, a person with a whole lotta spending cash but very little gem knowledge was ill-advised and cajoled into buying a highly unremarkable ruby. The one positive thing I can say about it is that the clarity is fantastic. But that often comes along with lousy color. Also, the size isn't even impressive! I could understand if it were like 10ct., for example. Mine is 3.12ct. :confused:
 
It’s so ugly! My rubellite looks better and is huge and has a faux glow!

My son’s garnet that a PSer sent for free looks much better!
 
Bron357 said:
“And the sh** really hit the fan when Mrs Smith realised that her $650k ruby looked identical to a $32 garnet from eBay”.
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Right?! Origin should only come into play when you're looking at fine material. I can't imagine anyone (who knows better) wanting to pay Burmese prices for this color.
Imagine what else he/she could have bought with $650k.
oops.gif
 
Autumn in New England said:
Imagine what else he/she could have bought with $650k.
oops.gif
Click to expand...

I recently saw videos of the most amazing Kashmir sapphire. Blue out of this world, phenomenal cut, over 2ct, untreated... I don't remember the exact price it sold for, but it was under 200k.

So the answer, I guess is - three truly spectacular Kashmir sapphires is what one could have bought with the money wasted on this flake of a ruby.
 
It can't be all that bad, right? Maybe the photos don't do it justice...?

I would think this "appendix letter" means something:

Screen Shot 2025-03-26 at 10.37.33 PM.png

I know some labs let you pay a lot extra for a "folio" attesting to extraordinary rarity, etc., but I would think that this kind of letter from SSEF would mean something?
 
Your posts are cracking me up :lol-2:

Crimson said:
Yes, like @Autumn in New England I would like to know what @VividRed — and @Dr_Diesel think of this transaction.
Click to expand...
Same!

Autumn in New England said:
Also, the size isn't even impressive! I could understand if it were like 10ct., for example. Mine is 3.12ct. :confused:
Click to expand...
That is what is so bizarre. I'd understand buying something large and imperfect.
I suppose some people have too much money and don't care how they spend it. But at that point go to a fancy retailer and get all the perks that comes with it!
 
LilAlex said:
It can't be all that bad, right? Maybe the photos don't do it justice...?

I would think this "appendix letter" means something:

Screen Shot 2025-03-26 at 10.37.33 PM.png

I know some labs let you pay a lot extra for a "folio" attesting to extraordinary rarity, etc., but I would think that this kind of letter from SSEF would mean something?
Click to expand...

I thought the same thing; surely there must be something that's not coming through in the media provided. They've seen it in person and we haven't, and they're SSEF and we're not. But that high-quality video in natural light... it doesn't even look decent... it looks awful. I'm starting to think that while major labs would never purposely falsify composition or treatment info, etc., these appendices may be bought by the right person with the right amount of money. No doubt it helped the sale x100. Because while the stone may not be "that bad," as you said, is it so exceptional to deserve an appendix? I don't know, again, maybe it needs to be seen in person.

Question (and I'm not referring to this stone in particular, but just generally speaking), do you think palms ever get greased at these labs on big auction house sales?
 
toomuchB said:
That is what is so bizarre. I'd understand buying something large and imperfect.
I suppose some people have too much money and don't care how they spend it. But at that point go to a fancy retailer and get all the perks that comes with it!
Click to expand...

Right?! In another life, I'd like to walk into Harry Winston with $650k to blow.
 
Autumn in New England said:
But that high-quality video in natural light... it doesn't even look decent... it looks awful.
Click to expand...

I did not see the videos but that would be pretty disappointing. I take your word for it!

Maybe they were guided by the extraordinary clarity which would be rare but would not bump it to the top in our desirability scale? Or maybe they were told that all top rubies have been selling for 3X the upper estimate (sure seems like it) and they simply "chose poorly," as the Grail Knight would say.
 
LilAlex said:
I did not see the videos but that would be pretty disappointing. I take your word for it!

Maybe they were guided by the extraordinary clarity which would be rare but would not bump it to the top in our desirability scale? Or maybe they were told that all top rubies have been selling for 3X the upper estimate (sure seems like it) and they simply "chose poorly," as the Grail Knight would say.
Click to expand...

It does have crystal clear clarity... I'll give it that!

P.S. Love the Indy reference!!
 
Autumn in New England said:
Question (and I'm not referring to this stone in particular, but just generally speaking), do you think wheels ever get greased at these labs on big auction house sales?
Click to expand...

I'm shocked (shocked!) that you'd even suggest this! And just as my faith in humanity has been restored these past few weeks.

I bet it happens. I suspect mostly with established relationships and not for one-offs. I do wonder if a lab can be above reproach but an individual analyst could need a boat payment, etc.
 
LilAlex said:
It can't be all that bad, right? Maybe the photos don't do it justice...?

I would think this "appendix letter" means something:

Screen Shot 2025-03-26 at 10.37.33 PM.png

I know some labs let you pay a lot extra for a "folio" attesting to extraordinary rarity, etc., but I would think that this kind of letter from SSEF would mean something?
Click to expand...

Interesting, I didn't notice that. I did a crude search across Sothebys and Christies and the 'worst'/'smallest' rubies with those letters were these:

Looks kinda included, 5ct, Corrected for inflation = 420k CHF/475k USD

Much nicer and cleaner, 5ct, well over a million.

The rest are huge/fine/I get why they have the letters.
 
LilAlex said:
I'm shocked (shocked!) that you'd even suggest this! And just as my faith in humanity has been restored these past few weeks.

I bet it happens. I suspect mostly with established relationships and not for one-offs. I do wonder if a lab can be above reproach but an individual analyst could need a boat payment, etc.
Click to expand...

And if said boat owner or some delightful monger at <insert name here> auction house ever comes across this thread... we're not talking about you. Now that our defamation bases have been covered, please continue.
nerd.gif
 
You can see the future through the window of the first one. Seriously though, what an unimpressive ruby. Too dark, windowed, shape is meh, and the price is astronomical. All it has going for it, I think, is carat weight. The second one looks far better to me, but one would need to see it in natural daylight
 
We all may be “arm chair critics” but heck, nothing in any of those photos or the video said “top quality Burmese ruby” let alone “$650,000 USD” to me and to think more than one person thought it was worth so much, double what the heck.
I get that HUGE untreated Burmese rubies are worth millions but they are RARE.
A mere 3.14 carat ruby that looks more like a garnet, not so much.
It just looks dead in the photos and surely some effort was made to get the best shots?
 
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