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What Are Rubies Worth?

The best rubies are the pigeon blood red variety of the mineral corundum, although the stones are also available in other shades of red. Ruby is considered a precious gemstone; the value of fine specimens rivals diamond prices. This stone is rare and market values have been consistently high throughout the two millennia in which ruby has been traded. Values of individual gemstones are rated by different aspects of the stone's quality. Knowing these ratings can help you decide which stone to choose when purchasing one.

Grades Of Rubies
- Rubies are categorized on scale of five quality categories: "exceptional," "very good," "good," "fair" and "poor". An exceptional stone is extremely rare, used in only the finest quality jewelry. It may command a price up to nearly $5,000 per carat. These stones have the best clarity, color and cut. A stone classified as "poor" may not even be considered a gemstone-quality specimen. These stones are used in cheap jewelry or crafter's items. They may have patchy coloring or a lot of inclusions which blur the clarity. A poor quality ruby can cost between a few dollars and $400 per carat depending upon the rating features of the stone.
Stone Color
- Rubies are ideally pigeon blood red. They may be a bit lighter or darker, but the closer to ideal color, the more valuable the stone. Stones of perfect color are rare and most stones in the market are now heat-treated to achieve perfect coloration. These stones are not as valuable as a naturally colored stone. The certificate of authentication will tell if a stone is heat-treated. Unethical dealers may oil or dye a stone. Cleaning it in an ultra-sound machine will reveal such treatment.
Clarity
- Rubies are not a perfect stone. They have fibrous inclusions called "silk." Uneven concentrations of silk can cause cloudy patches in the stone and reduce the value. Other inclusions such as specks of other minerals can also lower stone value. Feathers (fractures) inside the stone or pits in the surface of the stone degrade both the durability and value. The Gemological Institute of America grades rubies from very, very slightly included (VVS) to declasse (Dcl) based upon quality in 10X magnification.
Other Price Indicators
- Corundum is an octahedral crystal and should be deeply faceted for full value. Stones with uneven facets or those you can see through because they do not reflect light properly are poorly cut and less valuable. The best stones are nearly as deep as they are wide. Cabochons are generally less valuable than faceted stones unless they contain fine asterism (stars). Size also determines value as large stones are much rarer than small ones. An excellent stone of several carats may sell for hundreds of thousands of dollars. The place of origin also affects price on the world market. The most valuable rubies are from Burma, although fine stones from other locations are often just as beautiful.

Gemology