Many first-time ruby investors tend to have a belief: I have a budget of hundreds of thousands or even over a million; 1 must get a large, unheated Burmese ruby-Pigeon! Blood! Red! Ruby!"
This belief does not arise out of nowhere. Often, these clients already own one or two smaller, one-or two-carat unheated Burmese pigeon blood rubies that they particularly love for daily wear. But when they actually check the market before buying, they realize their budget is limited! Even rubies that are not pigeon blood are still very expensive.
Take the 2025 Christie's Autumn Auction as an example. There was a 6.03-carat unheated Burmese Mogok ruby with an estimated value of $550,000-$850,000. This ruby had a pinkish hue visible to the naked eye. In the large-carat ruby market, there are also some rubies that appear red to the naked eye but are not certified as pigeon blood.
The value of these unheated rubies comes from their rare large carat size and generally good clarity and brilliance. If you look closely, besides Christie's, other high-end auction houses also feature such stones. Large-carat unheated rubies are already rare. Therefore, if the overall quality is good, even if the ruby is not pigeon blood, it still holds very high value.
JTC Ruby Trading Center provides you with the fastest updates on the latest large-carat unheated rubies on the market.
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