Sotheby’s is going to auction the record-breaking Graff ruby, as reported by the Telegraph. The Burmese ruby, with a color described as “pigeon’s blood” is 8.62 carat and was set in a Bulgari mount. It was originally auctioned at Christie’s, and was purchased in 2006 by Laurence Graff, who paid the highest price ever for a ruby: $3, 621, 000.
There is talk that this record could be broken at the Sotheby’s auction. As quote by Joanna Hardy of the Telegraph, Jean-Baptiste Tavernier said in 1676, “When a ruby exceeds 5 carats and is perfect, it is sold for whatever is asked for it.”
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Sotheby’s will be selling the ruby as part of its Magnificent Jewels and Nobel Jewels. The estimate is between $6-9 million, double or three times the 2006 record-breaking purchase price.
