How much does a one carat ruby cost? [Video]

In the video tutorial I tried to explain the method I use to determine “How much does a one carat ruby cost?”

One carat ruby prices can range from US$10 to US$12,000

The method I used to determine the value is by first categorizing the stone based on the 4Cs + OT method.

The six criteria I have summarized in bullet form below:

HOW TO DETERMINE A VALUE OF A RUBY? 

WHAT ARE 4C’s + OT

Details for each criteria is provided below:

RUBY’S COLOR RANGE

Hue is the color range.  Examples of Ruby’s hue are

  • Red
  • Purplish Red
  • Orangish Red
  • Pinkish-Red

Saturation is the intensity of the hue presented in a ruby

  • 100% is pure color or 0% is gray color

Tone is how light or dark a gemstone is

  • Very light (closer to the white range) or Very Dark (closer to the black range)

The ideal color range for a ruby is red hue, high-intensity saturation & medium tone.  In the trade this is called ‘Pigeon Blood Rubies.’ These are the most expensive rubies.

RUBY’S ORIGIN & TREATMENT

Origin from Most Expensive to Less Expensive

  • Burma (Myanmar)
  • Thailand, Cambodia
  • Mozambique, Madagascar
  • Kenya, Tanzania
  • Afghanistan & Pakistan

The price of origin is determined by the “origin’s brand,” amount of supply the mine is producing and the quality of gemstones coming out from that particular mine.

Treatment – More Treatment the Cheaper it is. Ranking in Pricing

  • Unheated & Untreated 100% Natural Ruby
  • Heated Ruby
  • Heated Flux-healed Rubies
  • Lead-Glass Filled Rubies

Please note, NOT all 100% untreated or unheated rubies are expensive.  We still have to take into account other criteria to determine the price.  

RUBY’S CLARITY RANGE

Inclusions – Eye Clean to Included

Ruby Clarity Range base on amount of inclusions

Fewer inclusions the more expensive the ruby is.  The more inclusions a ruby has the more it hurts gem look and therefore affects the price.

Transparency – Transparent to Opaque

Ruby Transparency Range

More transparent the ruby’s crystal is the more expensive it is.  Opaque rubies are considered very cheap as the crystal is not clear and therefore hurts the rubies’ fire & sparkle.

RUBY’S CARAT WEIGHT and CUT GRADE

Carat Weight (Bigger the more expensive)

The bigger the ruby the more pricer it gets.

Cut Shape & Grade

Octagon, round and square-cut rubies, in general, are more expensive than common oval or cushion cut rubies.  Marquise and pear shape cut rubies are usually cheaper.  The cheapest cut rubies are cabochons (assuming they are not a ‘star’ ruby).

In terms of cut grade, the ideal cut range is ‘proportional.’  However, cut grade is not considered as important as color range, carat weight, origin & treatment.

IN CONCLUSION

Once we know the above criteria we can then start comparing the five rubies in the video.

The summary of the five rubies which I compared in the video (from left to right) is provided below.  I also included one more ruby which I did not discuss in the video but is one most expensive one carat ruby we have sold recently.

1.07 carats Oval Burma Ruby (Flux-Residue Treatment) 

Total Price – US$2,150

1.00 carats Round Burma Ruby (Normal Heat Treatment) 

Total Price – US$2,300

  • Color
    • Hue: Vivid Red “Pigeon Blood”
    • Tone: Medium
    • Saturation: High Intensity
  • Carat weight – 1.00 carats
  • Clarity – 1100% eye-clean with no visible inclusion.  Crystal is also transparent.
  • Cut
    • Round
    • Excellent – Ideal Round cut Ruby
  • Treatment level – Normal Heat Treatment called H(a)
  • Origin – Burma (Myanmar)

1.00 carats Oval Mozambique Ruby (No Treatment) 

Total Price – US$2,500

  • Color
    • Hue: Vivid Red (very slightly pinkish)
    • Tone: Medium
    • Saturation: Intense
  • Carat weight – 1.00 carats
  • Clarity – 100% eye-clean with no visible inclusion.  Crystal is also transparent.
  • Cut
    • Oval Shape
    • Very Good to Excellent cut.  Stone is not perfectly proportional.
  • Treatment level – No evidence of treatment is found in the stone (100% unheated & untreated ruby)
  • Origin – Mozambique

1.01 carats Marquise Mozambique Ruby (No Treatment) 

Total Price – US$100

  • Color
    • Hue: Pinkish-Red
    • Tone: Medium
    • Saturation: Medium
  • Carat weight – 1.01 carats
  • Clarity – Highly included cloudy inclusions.  Crystal is also translucent due the inclusions.
  • Cut
    • Marquise Shape
    • Very Good.  The stone is proportional.
  • Treatment level – No evidence of treatment is found in the stone (100% unheated & untreated ruby)
  • Origin – Burma (Myanmar)

3.00 carats Oval Mozambique Ruby (Glass-Filled Ruby) 

Total Price – US$20

  • Color
    • Hue: Vivid Red
    • Tone: Medium
    • Saturation: High
  • Carat weight – 3.00 carats
  • Clarity – Moderate Inclusions.  Crystal is also transparent.
  • Cut
    • Oval Shape
    • Very Good to Excellent cut.  Stone is proportional.
  • Treatment level – Composite glass-filled ruby (very aggressively treated)
  • Origin – Unknown (presume Mozambique)

[NOT IN VIDEO] –


https://www.instagram.com/p/Bmu4PrcDcUT/

1.03 carats Round Burma Ruby (No Treatment) 

Total Price – US$12,000

  • Color
    • Hue: Vivid Red “Pigeon Blood”
    • Tone: Medium
    • Saturation: High-Intense
  • Carat weight – 1.03 carats
  • Clarity – 100% eye-clean with no visible inclusion.  Crystal is also transparent.
  • Cut
    • Round Cut
    • Excellent cut.  The stone is perfectly proportional.
  • Treatment level – No evidence of treatment is found in the stone (100% unheated & untreated ruby)
  • Origin – Burma (Myanmar)

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