A 55.22-carat ruby has become both the largest and most valuable gem of its kind ever to sell at auction, netting $34.8 million on Thursday. The stone went under the hammer in New York in June, less ...

Gemstones are treasured for their exquisite beauty, sentimental symbolism and—perhaps most importantly—their market value. These precious pieces of rare rock, once polished and cut, can be worth tens ...

The just completed Sotheby’s Magnificent Jewels sale in New York is the first auction to sell two items for more than $30 million. The first is the “Estrela de Fura,” a 55.22-carat Mozambique ruby ...

The current record for a ruby sold at auction was achieved by the Sunrise Ruby. This 25.59-carat Burmese stone hammered down for $30.3 million at Sotheby’s Geneva in May 2015. This price also ...