Diamonds are forever, and they may seem like the go-to option for most people, but there are many other beautiful gemstones and precious stones that make stunning rings. Rubies are among these beautiful options, and anyone who comes across a ruby ring will tell you that they fell in love with it at first sight. But are ruby rings expensive or affordable?
Before we answer the question on the cost of rubies, you should know that rubies are the most traditional jewelry stones, with the reason why this stone has been around for a very long time having to do with its exceptional level of durability.
Ruby is exceptionally brilliant, always comes in red, and it often reaches the most vivid levels of color saturation. This red gemstone belongs to the corundum family of gemstones, and though most rubies come in that characteristic strong red color, there are other color variations in between; for example, there are orange-reds, brown reds, purple reds, and even the pink-reds.
And as a result of its brilliance, people looking for the jewelry with colored gemstones often pick the ruby.
The other thing worth noting about the ruby is that this gemstone is pretty much the crystalline version of aluminum oxide, with the red color from traces of chromium which replaces the aluminum, hence the color change of the mineral to red.
When the corundum is red, the gemstone is called a ruby; but when it’s any other color, say yellow, blue, or pink, it is sapphire.
Out of the big three – emeralds, rubies, and sapphires, the ruby is the rarest.
How much would a ruby ring cost?
The finest-quality rubies are among the most expensive gemstones on the jewelry/ gemstone scene, with some rubies known to be priced at a record $1,000,000 per carat.
But not all rubies are that expensive because rubies are also precious stones that are often subjected to the highest number of treatments compared to most other gemstones.
Is Ruby more expensive than a diamond?
Even though some varieties of rubies are very valuable, hence their command for very high prices, most rubies in jewelry stores are significantly less expensive than diamonds of the same sizes.
The reason for the lower pricing on this rare gemstone is the reason why rubies are now the most appealing alternative to diamonds. In most cases, a diamond of the same size and quality characteristics would cost 5x more than the ruby.
However, if you are buying the very high-end rubies, then you will spend significantly more, and the ruby would be as expensive, or a diamond or even cost more than a diamond of the same size.
Why are rubies so expensive?
As mentioned above, rubies are quite expensive and valuable gemstones. In India, for example, the ruby is known as the ‘Lord of the Gemstones’, and this gemstone is considered the most valuable and the rarest gemstone. Ruby gemstones are associated with wealth, royalty, and power and are also believed to carry protective powers.
The reason for the high price tag, however, has to do with the fact that this gemstone is quite rare of the colored gemstones. As expected, the high-quality rubies cost more, especially when they haven’t been heat-treated for color depth.
To determine the value of a ruby, there are some important qualities that are taken into consideration. These include the quality of the cut and the clarity of the gemstone. But unlike diamonds, rubies are not valued/ graded based on their brilliance, which means that for rubies, the color, size, and clarity determine the cost of the gemstone. Rubies with rich natural color are valued higher than the ones treated.
The desirability of a ruby increases depending on the depth and intensity of the color. To determine this, there are three elements taken into account – saturation, tone, and hue. So, the more the color of the ruby is a strong (strictly) red, the higher its value.
Rubies with secondary colors like purple or yellow, which neutralize the blue in purple, appear redder and are valued higher, for example, the Burma Ruby.
The tones matter as well, and the good quality rubies tend to fall between the medium to the medium-dark tones. In other words, a ruby that is too dark makes it hard to determine its actual color, and if it’s too light, then it appears too faint and a pink sapphire rather than a ruby.
The value of rubies is also affected by color saturation. Saturation represents the depth of the color or its intensity. Well-saturated or intense rubies have vivid or strong color saturation, and they are the most precious. If the ruby fluoresces, it has an even higher level of saturation, hence a higher valuation, and rubies with tiny inclusions called rutile needs have a higher color reflectivity, which means that they can be expensive too.
Essentially, there is no specific/ objective grading system for rubies, which is why the gemological labs will use master stones to determine and contrast the tones, saturation, and the hues of the stones taken in for testing.
Pros & Cons of a ruby ring
- Beautiful precious stones
- Cheaper than diamonds
- Rubies are believed to help in restoring vitality and would also improve blood circulation and eyesight.
- Good confidence booster and show social status
- The ring is believed to bring peace, love, and good health
- It’s believed to increase wisdom and remove negative thoughts
- It’s rare
- Its high value means it could be stolen easily
- It can be very expensive
- Some rubies are enhanced through filling or windowing.
Should you buy a ruby ring?
If you are looking for something different, other than diamonds or sapphire, the rare ruby might be the next best option for you. It comes in different unique styles matching different personalities; for example, there are vintage, edgy, and rose gold styles, and they all stand out and would look good on anyone.
And thanks to its lower price tag compared to the diamond’s a ruby would be a good option if you are looking for a ring made of colored gemstones. Keep in mind that a colored diamond would cost a lot more than a ruby.
A ruby ring would be an excellent choice for anyone who wishes to stand out from the crowd by choosing something different from the traditional diamond engagement ring. Just make sure that you buy the best quality ruby ring.