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Ruby Ring Smashes Estimate at Auction

Piece set a new house record for Chiswick.
Sep 22, 2019 9:48 AM   By Rapaport News
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RAPAPORT... A Burmese ruby ring from a private European estate sold for more than 18 times its low estimate, setting a new house record at Chiswick Auctions.

An undisclosed buyer purchased the 10.51-carat, natural, unheated stone for GBP 462,500 ($576,817). The London-based auction house had estimated it would fetch at least GBP 25,000 ($31,179).

“Natural rubies above five carats are very rare, and one over 10 carats is exceptional, so we knew that it might attract a lot of attention,” Sarah Duncan, head of jewelry at Chiswick Auctions, said last week. “Rubies of this size infrequently come onto the market, and because of this and its outstanding quality, bidding was, as expected, extremely competitive.”

Image: The Burmese ruby ring. (Chiswick)
Tags: Chiswick, Chiswick Auctions, Rapaport News, Sarah Duncan
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