World's largest gem-quality ruby Estrela de Fura fetches record $34.8m at auction

Rare pink diamond sells for same price at Sotheby's Magnificent Jewels Auction

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  The Estrela de Fura was polished into a cushion cut after it was discovered in July 2022. Photo: Sotheby's

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  The Estrela de Fura is the world's largest gem-quality ruby. Photo: Sotheby's

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  Sotheby's said the cut of the ruby magnifies its vibrant 'pigeon's blood colour. Photo: Sotheby's

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  Estrela de Fura weighs 55.22 carats. Photo: Sotheby's

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  The ruby was unveiled in Dubai in 2022. Photo: Sotheby's

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  The Estrela de Fura ruby. Khushnum Bhandari / The National

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  Ahmed bin Sulayem, executive chairman and chief executive of Dubai Multi Commodities Centre, right, and Dev Shetty, founder of Fura Gems, unveiled the Estrela de Fura ruby in Dubai. Khushnum Bhandari / The National

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  Mr bin Sulayem holds up the ruby. Khushnum Bhandari / The National

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  While no price has been given to the rare stone, it is expected to sell for tens of millions of dollars. Khushnum Bhandari / The National

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  Mined in Mozambique, the ruby was found at a mine operated by Fura Gems. Khushnum Bhandari / The National

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  The ruby is said to be of unmatched quality. Khushnum Bhandari / The National

The Estrela de Fura, the world's largest gem-quality ruby, sold for a record $34.8 million at auction on Thursday, Sotheby's said.

It was the largest ever sum auctioned for any coloured gemstone.

The Estrela de Fura, which in Portuguese means “Star of Fura”, is a 55.22-carat ruby. The gem was mined by Dubai-based Fura gems in 2022 and weighed 101 carats when it was mined in Mozambique.

The gem's “pigeon blood” colour was revealed after the gem was cut and polished into a cushion cut.

Sotheby's said the Estrela de Fura “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”.

The precious gem was sold during the Sotheby's Magnificent Jewels Auction.

Thursday's auction set another record when the Eternal Pink diamond also sold for $34.8 million.

The Eternal Pink diamond on display at the Dubai Diamond Exchange in Almas Tower in JLT in Dubai. Pawan Singh / The National

The “electric bubblegum” 10.57-carat gem set a record for a Fancy Purplish-Pink diamond, Sotheby's said.

The Eternal Pink was cut by De Beers from a 23.78 carat rock mined in Botswana. Sotheby's said the diamond is “far rarer” than works created by Andy Warhol because of its clarity and lack of imperfections.

The two precious gems were displayed in Dubai, Singapore, Shanghai, Taiwan, Hong Kong and Geneva before going up for auction in New York.