High-end rubies sourced from Mogok are very desirable due to the fact that they are characterized by a rich red color, making them some of the rarest in existence. Historically, gemstones mined from Mogok have been sought out by nobles, traders and collectors from various corners of the globe and many of the world’s most valuable rubies sold through public auction at international public auctions have been sourced from Mogok.
A recently found beautiful ruby of 11000 carats was excavated in Myanmar’s Mogok gemstone area and is drawing international gem dealers’ and collectors’ attention. This rubies value is believed by both gem experts and jewelry dealers to be among the highest in Southeast Asia.
Discovery of a Rare Giant Ruby
An 11,000-carat ruby was just found in Myanmar, generating a lot of excitement globally. Myanmar is historically known for producing the highest quality gemstones, such as rubies, especially within the ruby mines in Mogok, the “Valley of Rubies”. Due to its size and beauty, this newly discovered gemstone is likely to be among the largest rubies ever found and makes this discovery significant to the overall value of the gemstone industry.
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The Value of Rubies from Myanmar – “The Land of Rubies”
Myanmar has long been famous for its sizeable and mature ruby deposits located in the Mogok valley also known as the “Valley of Rubies”. Rubies are well known for their deep rich colours (the colour of the ruby from Mogok is the deepest shade of red possible) and are also very transparent. The discovery of such a large-size ruby adds to the continuing importance of Myanmar’s role in the international gemstone market.
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The Value Potential of the 11,000 Carat Ruby
Experts expect that this ruby could contain a vast amount of scientific, historical and commercial worth. This stone also represents the immense natural wealth to be found under the mountains of Myanmar. Gemologists will no doubt be seeking to fully explore and examine this impressive gemstone.
The Government of Myanmar made its debut as a “gem” when it publicly displayed the ruby to the world. The Government has published images of the President of Myanmar, Min Aung Hlaing, examining the ruby and using hyperbolic language.
This has also been leveraged to show the country’s natural wealth and its history of mining. There is speculation that this ruby may eventually become part of a permanent collection in a museum or serve as reserve assets for the Government of Myanmar’s Treasury or be sold through an international auction, depending on what the authorities and investors want to do. There is worldwide interest in the ruby market.
With this discovery comes increased visibility to the global ruby market and has coincided with rising demand and values for natural untreated rubies among investors who are looking for increasingly rare colourful gemstones for investment. The perception of museum-quality has also increased the practical collectibility of previously considered “Large” rubies.
Bottom line
Industry insiders project that a ruby of this size and quality could become the subject of much conversation regarding gemstones in modern history. Apart from its potential value, this ruby also highlights Myanmar’s continued leadership role in the global ruby market, despite the on-going political instability and economic sanctions that it has faced.
As of today, this enormous 11,000-carat ruby is therefore a physical embodiment of both a geological phenomenon and a representation of the complex relationship between Myanmar’s natural riches, its political system, and the international gemstone industry.
