Editor’s Note
This article highlights the extraordinary sale of a Mogok ruby ring for 1.17 billion yen at a Sotheby’s Hong Kong auction. It briefly explains the rarity and historical significance of these gems from Myanmar, whose supply was severely curtailed by mid-20th century political changes.
At the jewelry auction held by Sotheby’s Hong Kong in April, the highest-priced item sold was a Mogok ruby ring, fetching approximately 1.17 billion yen. Mogok is a mountainous region about 650 km from Yangon, the former capital of Myanmar, and is known as a source of high-quality rubies. Production drastically declined due to political upheaval and the nationalization of mines in the 1960s, making Mogok’s pigeon’s blood rubies exceptionally rare.
Mogok rubies are characterized by a purplish-red hue, and large stones are scarce. It is said that stones over 5 carats can surpass the price of diamonds. Ruby production appears to be far lower than that of diamonds. The stone sold at Sotheby’s was a large, untreated 24.7-carat specimen. Since most rubies on the market have undergone treatment, this one is considered extremely rare.
A fancy vivid yellow diamond ring sold for approximately 300 million yen.
A fancy vivid purplish pink diamond sold for approximately 260 million yen.
A Cartier sapphire ring sold for approximately 130 million yen.
A Van Cleef & Arpels bracelet crafted in 1925 sold for approximately 120 million yen.
While most of the jewelry selling for over 100 million yen were fancy-colored diamonds like fancy vivid yellow or fancy vivid purplish pink, there were also pieces from top brands like Cartier and Van Cleef & Arpels. Cartier’s sapphire ring sold for approximately 130 million yen, and Van Cleef & Arpels’ bracelet crafted in 1925 sold for approximately 120 million yen. The brand’s iconic Zip necklace was acquired for approximately 37 million yen.