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.”
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.