“The Crimson Flame,” an exceptionally rare Burmese ruby sold for $18.3 million, setting a world auction record per carat of $1.2 million at Christie’s Hong Kong sale of Magnificent Jewels Tuesday. The ...

"If you look at a top-quality, gem quality ruby versus the top quality of a diamond – let's say they're five carats each – the ruby is going to be much rarer and much more expensive than that ...

Every item on this page was chosen by a Town & Country editor. We may earn commission on some of the items you choose to buy. The ancient Sanskrit word for ruby translates approximately to “king of ...