The most valuable rubies are typically those that possess a combination of certain characteristics, including color, clarity, size, origin, and overall quality. Here are some factors that contribute to the value of a ruby:
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Color: The color of a ruby is one of the most important factors in determining its value. The most valuable rubies exhibit a vivid, intense red hue commonly referred to as "pigeon's blood red." This color is characterized by a deep red tone with strong saturation and a hint of blue. Rubies with a pure red color and minimal secondary hues such as orange or purple are highly sought after.
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Clarity: Clarity refers to the presence of inclusions or flaws within the ruby. The fewer inclusions, the higher the clarity grade, and consequently, the higher the value. However, it's important to note that inclusions are often expected in natural rubies, and some inclusions, such as silk-like rutile needles, can enhance the value of the stone by creating a desirable phenomenon known as asterism (a star effect).
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Size: Larger rubies are rarer than smaller ones, and therefore, their value tends to increase exponentially with size. However, the value of a ruby is not solely determined by its carat weight but also depends on the quality of its color and other factors.
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Origin: Rubies from certain geographic locations are highly esteemed and command premium prices. Historically, Burmese (Myanmar) rubies have been regarded as some of the most valuable due to their exceptional color and rarity. Other notable sources include Mozambique, Madagascar, Sri Lanka, and Thailand.
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Cut and Shape: A well-cut ruby that maximizes its brilliance, color, and overall beauty will generally be more valuable. Popular shapes like oval, cushion, and round are often preferred, but personal preference and the design of the jewelry piece also play a role.
It's important to keep in mind that the value of a ruby can fluctuate over time due to market trends, supply and demand, and other factors. A professional gemologist or reputable jeweler can provide a more accurate assessment of a ruby's value based on its specific characteristics.