Sotheby’s recently conducted an auction in New York where they sold a remarkable 55.22 carat ruby for a staggering price of $34.8 million. This unmounted gemstone had been unveiled by the renowned auction house in Dubai back in May, and it was touted as the largest and most valuable ruby ever to be presented at an auction. Anticipation for the sale was high, with sales expectations exceeding $30 million. Ultimately, the ruby was successfully sold during Sotheby’s Magnificent Jewels auction held on June 8.
Quig Bruning, the head of Sotheby’s Jewelry in New York, expressed his fascination upon seeing the Estrela de FURA for the first time. He described the stone as possessing an unprecedented size, a piercing colour, and a rare level of optical transparency and clarity. In his opinion, the ruby truly deserved the record-breaking price it achieved, as it now joins the ranks of the world’s most legendary gemstones. The rough red stone, which initially weighed 101 carats, was discovered in Montepuez, Mozambique in July 2022. This finding set a record for the largest gem-quality ruby ever unearthed. Following its shaping and polishing in Bangkok, the cushion-cut stone acquired the nickname “Estrela de FURA,” meaning “Star of FURA” in Portuguese, named after the mining company that discovered this precious gem.
Fura Gems, the company behind the discovery, was established in 2009 and is headquartered in Toronto. Currently, they hold nine ruby mining licenses in Mozambique. In a statement released by Sotheby’s, it was revealed that a portion of the proceeds from the sale of the ruby will be allocated by Fura Gems for the establishment of an academy. This educational institution aims to provide training and education in various fields such as mining, engineering, carpentry, and agriculture.
Despite large-scale mining operations only commencing in Mozambique around 2010-2011, the country has swiftly emerged as one of the world’s major suppliers of gemstones. The Montepuez mine, in particular, holds the largest reserve of gem-quality rubies. In a report published in 2019, the Gemological Institute of America highlighted that Mozambique has become the most productive source of gem-quality rubies in the world in less than a decade. This showcases the remarkable rise of the country’s gemstone industry and its significant contribution to the global market.
Sotheby’s successfully auctioned a remarkable 55.22-carat ruby in New York for an impressive $34.8 million. The stone, known as the Estrela de FURA, was unveiled in Dubai and received considerable attention for being the largest and most valuable ruby ever seen at an auction. The ruby was discovered in Montepuez, Mozambique, which has become a leading global supplier of gem-quality rubies within a short span of time. Fura Gems, the company behind the discovery, plans to allocate a portion of the proceeds from the sale to establish an academy that will provide education and training in various fields. This auction highlights the growing prominence of Mozambique in the gemstone industry and its ability to produce highly coveted and valuable gemstones.