Natural, untreated, and high quality rubies, especially large ones, are extremely rare and can reach stellar prices. Yes, rubies can cost a fortune; so much so that one of the the most expensive colored gemstones ever sold at auction until this past May was a ruby!
This is of course the Sunrise Ruby. At 25.59 carats, the Sunrise Ruby is a Mogok Burmese cushion-shaped ruby set upon a Cartier setting alongside two shield-shaped diamonds that weigh 2.47 and 2.70 carats.
In May of 2015, Sotheby’s Geneva hosted a sale that offered a one-of-a-kind Pigeon Blood Mogok Burmese ruby that managed to break all records when it sold for over $30 million and for over $1 million a carat.