CORUNDUM (RUBY): VALUE 267 



probable that the ruby has always held a foremost place in the estimation of connoisseurs. 

 This, however, is not time of stones of a pale red colour, which are always less highly prized, 

 on account both of their light shade of colour and of the fact that they occur more 

 abundantly and in larger size than do stones of a true pigeon's-blood red. 



The value of the finest ruby, therefore, far exceeds that of a diamond of coiTesponding 

 size and quality. One-carat diamonds of the first water are of far more frequent occurrence 

 than rubies of the same size and quality, while large rubies are still rarer than large 

 diamonds. A fine deeply-coloured ruby of 3 carats is a great rarity, whereas it is by no 

 means unusual to come across fine diamonds of this size. Again, while 10-carat diamonds 

 are of moderately frequent occurrence, rubies of the same weight scarcely ever occur, while 

 only very few specimens of still larger stones are known. It is therefore to be expected 

 that larger rubies should command exceptionally high prices ; indeed, the prices of stones of 

 ordinary sizes may be an-ived at very closely by the application of Tavernier's rule. The 

 relation between the ratio of the weight and the value of a large and a small stone is very 

 different when, on the one hand, the two stones are diamonds, and when, on the other, they 

 are rubies. Thus, while a 1-carat ruby is worth twice as much as a 1-carat diamond, a 

 3-carat ruby of the first quality is worth ten times as much as a diamond of the same 

 description, that is to say, that while a 3-carat brilliant of the first water would be valued 

 at about <£150, a ruby of the same description would be worth about ^1500. The value 

 of a 5-carat diamond of the first quality would be about ^300, while that of a similar ruby 

 would be dfSOOO. These values, of course, apply to stones in the cut condition, the weight 

 of which uncut would be about doubled. For rubies of still larger size there is no fixed 

 market price ; almost fabulous sums have been paid for very fine stones of large size 

 required for some special purpose. A fine ruby of 9^\ carats has been recently valued by 

 Mr. G. F. Kunz, the American gem expert, at 33,000 dollars (£6776). Again, £10,000 is 

 stated by Mr E. W. Streeter, the London jeweller, to have been paid for a cut ruby 

 of 32j^ carats, and double this amount for another weighing 38^ carats ; both of these 

 stones were faultless specimens of magnificent colour. 



It is recorded by Benvenuto Cellini in the middle of the sixteenth century that a carat 

 ruby was eight times the value of a carat diamond, the price of the former being 800 

 golden scudi (£160) and that of the latter 100 scudi (£20). The ratio at the present time 

 is only about two to one, the market price of a fine 1-carat ruby being about £25, and 

 that of a brilliant of the same weight about £15, only in very exceptional cases £20 or £25 

 being paid. The particular shade of colour shown by a ruby exercises an enormous 

 influence on its value, thus a carat stone of a pale rose colour is worth at the most but £1, 

 which contrasts strangely with the value of a stone of equal size, but of a deep red colour. 



The value of any particular ruby does not reach the high figures mentioned above 

 unless it is an absolutely faultless specimen. The faults most commonly met with are lack 

 of clearness; existence of cloudy portions (so-called "clouds'"), specially frequent in light 

 coloured stones ; milk-like, semi-transparent patches (" chalcedony patches ") ; small internal 

 cracks and fissures (" feathers ") ; unequal distribution of colour, and so on. 



Just as some few diamonds, on account of their singular beauty, large size, or unique 

 colour, have become famous and well known all the world over, so certain rubies on 

 account of their exceptional size have acquired more or less fame and renown. Tavernier 

 states that he saw two rubies, in the possession of the King of Bijapur, in India, which 

 weighed 50f and 17^ carats, and which he valued at 600,000 and 74,550 francs respectively. 

 Other large rubies have been occasionally met with in India and specially in Burma. The 

 King of Ava was reported to be in the possession of a ruby mounted as an ear-pendant 



