In the high-end market, demand remains strong for Burma rubies and sapphires. Blue sapphires are more desirable, and their prices are more stable. Ruby prices, however, are on the rise, and the supply of fine Burma rubies—already scarce before the embargo (enacted in 2008)—has only gotten worse.
Richard Wise of R.W. Wise Goldsmiths in Lenox, Mass., notes, “Collectors that want ruby want Burma.” Dealers are pricing Burmese rubies knowing there is a slim chance the stones can be replaced. The result? Higher prices in an otherwise quiet market. As for extra-fine quality Burma rubies that weigh more than 1.00 ct., consider them an even bigger headache to source. —Stuart Robertson
This story appears in the June 2010 issue of JCK Magazine, USA .