World’s largest ruby set to fetch at least $30m at auction

Unveiled in Dubai last year, Estrela de Fura 55.22 will return to the city before being auctioned at Sotheby's New York

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The world's largest gem-quality ruby, unveiled in Dubai last year, is expected to sell for more than $30 million at a New York auction in June.

Estrela de Fura, or the “Star of Fura” in Portuguese, was unearthed by Dubai-based Fura Gems in Mozambique and originally weighed 101 carats.

It has since been cut and polished into a cushion cut of 55.22 carats that reveals its vivid red colour, known as “pigeon's blood”.

“The rare gemstone is the largest and most valuable ruby to ever appear at auction,” Sotheby's said in a press release.

The broker said it was “the largest gem-quality ruby to ever appear at auction”.

The gem “was considered by experts as an exceptional treasure of nature for its fluorescence, outstanding clarity and vivid red hue, even in its natural, uncut state”.

Estrela de Fura is expected to break auction records when it appears at Sotheby's New York's “Magnificent Jewels” sale in June.

“When Fura Gems announced its historic uncovering of the world’s largest gem-quality ruby … the news dominated headlines the world over, prompting tremendous excitement and taking the gemstone market by storm,” Sotheby's said.

The auction is headlined by the Eternal Pink Diamond, which weighs at 10.57 carats and is expected to fetch $35 million.

The Sunrise Ruby holds the current record as the most valuable ruby at $30.3 million.

Estrela de Fura and the Eternal Pink Diamond will be available to see in-person in Dubai, among other cities around the world, before the June 8 auction in New York.

It will also be viewable in Taipei, Singapore and Geneva as part of the tour.

Estrela de Fura was the largest gem-quality ruby discovered when it was unearthed by Fura Gems in Mozambique in July 2022.

Fura Gems is headquartered in Dubai and operates mining sites in Mozambique, Australia and Colombia.

The company said it will use a portion of the sale proceeds to build a Fura Training Academy in Mozambique, for education and technical training for the local population. It would focus on skillsbuilding for agriculture, carpentry, engineering, and mining work.

World’s largest ruby set to fetch at least $30m at auction

World’s largest ruby set to fetch at least $30m at auction
Updated: April 06, 2023, 9:09 PM