AGTA GTC's Laboratory Update for April 14, 2005
Ruby Sets New Auction Record
On April 12, the ruby world was abuzz with the news that a new auction record had been set at Christie's New York. The final hammer price of $2.2 million yielded a staggering $274,656 per carat for the 8.01 ct. gemstone, which was purchased by a private client in Asia. This bested the previous record of $228,252/ct. set back in 1988 with a 15.97-ct. gemstone.
Figure 1. This 8.01 ct. gemstone sold for a whopping $274,656/ct., a new per carat auction record for ruby. (Photo Courtesy of Christie's New York) |
Untreated rubies of this quality and size are exceedingly rare, and demand for them grows ever stronger. The AGTA Gemological Testing Center's Director, Dr. Lore Kiefert, attended the auction and described the piece as "one of the finest rubies I've ever seen." The AGTA Gemological Testing Center is America's premier colored gemstone testing facility. We will regularly provide you with the latest news from the colored gemstone and gemological world.
Reduced Turnaround Time at the AGTA GTC
In January, the AGTA-GTC embarked on a major expansion program. Dr. Lore Kiefert, Richard W. Hughes and John I. Koivula bring a combined 60+ years of gemological experience, adding to the already excellent team of Garry DuToit and Riccardo Befi. This expansion is immediately bearing fruit; turnaround times are now approximately one week.
