Red ruby price

From time immemorial, rubies have been adored and jealously guarded by royalty and nobility in different societies. These precious stones were disseminated in Europe and the Middle East due to the active importation via the Silk Road. Rubies were, during this period, more valuable than diamonds because of their apparent scarcity and size, with clerics and government officials willing to pay more than ten thousand dollars for a large quality one.

Rubies continued to be one of the most sought after stones throughout the medieval era. Monarchs and affluent businessmen chased after these deep crimson colored gems as hallmarks of power and riches. The infamous Mogok region of Burma (present-day Myanmar) established itself as the foremost supplier of rubies in the world, adding to the expensive nature of these stones.

When reviewing the history of gemstones , it is clear that the renaissance period marked the widespread appreciation of many works in the art of gems especially in lapidary. It was during this epoch that many gems and most importantly rubies started being cut more elaborately improving their luster and increasing their prices. Prices had no option but to rise due to the unquenchable thirst for rubies in ornaments and royal regalia.

The ruby market was greatly influenced by the Industrial Revolution, as well as the colonial manifestations of the 18th and 19th centuries. This is because new mining methods improved efficiency, and the exploration of other areas like Thailand and East Africa opened more sources of rubies producing more than ever before. However, this increase in sources did not necessarily mean that there were lower prices for the best graded, because the rise in availability was counterbalanced by the increase in demand from new middle class in the developed countries.

In the next century , the scenario within the market for rubies changed remarkably. Although the first makes of synthetic rubies in the1900's caused panic in the trade of natural rubies, it led to even more gem adoption of certification and testing processes which protected the expensive rubies.

Over the past few decades , the worth of remarkable quality rubies has never stopped rising. Some of the reasons include the exhaustion of the old regions known for mining these gems, political instability causing problems in the distribution of stones, and the current rise in the value of colored stones. The discovery of Mozambique rubies in early 2000s helped boost supply for a short while, but the best rubies from Burma’s market are the most expensive.

At present, exceptional rubies continue to retain their status among the most expensive and in demand colored gemstones globally. Increasingly, the auction record prices for faithfully reproduced archetypes have been achieved with some of the high standard rubies costing more than three thousand dollars per carat. The tendency demonstrates not only the continuing fascination with these wonderful stones but also their beautiful history and the exploitations that cut across acquiring them.

Despite all, in an optimistic view of the future, the prices of fine rubies will keep on appreciating. With traditional sources diminishing and environmental safeguards posing restrictions on new exploration activities, the situation regarding rare natural rupees of finer quality is likely to worsen. At this time, given the overwhelming rise in population and social classes in developing countries where users of these products appreciate fine rubies, it is easy to imagine that fine rubies will continue to simplify and remain expensive for generations.

The centuries-long history of ruby pricing has been a story of many interrelated factors geological and geographical factors, historical, socioeconomic, and technological aspects. Such an understanding aids the comprehension of the variation of ruby prices through ages as well as offers short-term or long-term forecasts of the ruby market.

Tim geologists have always been one of the main elements of natural ruby pricing trends. They are also known to exist in some of the pure gem quality only under specialized go-Ecotomido conditions. The small market of priced unblemished and sizeable colored specimens has always inflated the price levels of such stones. Severely, others draw the cycles of prices due to the finding and depletion of more of such sources across the centuries.

The distance of the locations from where rubies are to the market their demand has played a very important and useful geometry for their prices. For instance, American rubies have been sold for extremely high prices in the past when produced from Mogok Valley in Burma Myanmar, because the rubies have an amazing color and clarity. This has not changed over the years, with most of the copper colored gemstones in different lgmmographs being compared with the ones from Burma.

The surge of ruby pricing has also been due to the effects of trade network. In history, transporting rubies created additional challenges and risks, especially along the Silk Road, which enhanced the value and aura of these stones. However, as globalization took place, and trade efficiency improved, the supply of rubies in the market increased hence the downward shift of prices.

It has been obvious prize that one of the elements that contributed to the valuation of ruby was cultural history and monarchy issues. Almost every civilization has given rubies some meaning, for instance, these stones were believed eloquently to shield people against malicious forces or even to be the very essence of desire or power. Given the courtly and ecclesiastical patronage in almost every historical period, it is easy to see why the prices have always been high.

Consider that a person’s wealth and market appetite play an important role in the rubies’ prices. In between economic swings, most commodities are seen to be out of stock e.g. rubies which taste very high, home wares. On the other hand, economic slumps would lead to a stagnated population or consumer base which would in turn lead to loss of appetite for certain products.

Other factors that have affected the prices of rubies through the ages include the improved mechanization of mining, cutting and treatment of stones. For instance, some of the improved ways of getting ore have reduced cost of supplies and even the price in the market. Still, supplies increased due to enhanced cutting methods of rubies which increased their marketability.

The inception of synthetic ruby stones during the dawn of the twentieth century haunted the natural ruby market for some time. In the long run, however, it prompted more advanced methods of gemological testing that assisted in the protection and safeguarding the presence of natural rubies.

The politics of the region have also been mentioned as factors that help in the pricing of rubies. Embargoes, wars, changes of power in heads of state in areas that mine rubies and even their legislation at one point or the other created some fluctuations in the availability and even pricing of rubies.

Because of the global ruby marke t and the introduction of an international grading system, ruby worth has been to some extent commoditized. But the component of appreciation in colors is still in subjectivity and each stone is different hence the prices can vary greatly.

However, in recent years, there has been an increasing couture and marketing approach to the pricing of rubies. Controversial advertising campaigns aimed at the rarity of rubies in focus worked to sustain the high prices for rubies in brilliants even when other colored stones were gaining relevance in the market.

Melting icebergs and increasing volumes of gemstones to be ethical have been influencing the price of rubies of late. This is because consumers are now willing to pay a premium for rubies that can be ethically accounted for.

In the near future, the above mentioned factors will still interplay to determine the price at which rubies will be sold. As the supply of traditional sources declines and new sources of rubies become available, there is likely to be a change in patterns of ruby mining across different geographic regions, hence leading to price changes. Technological innovations on the production and treatment techniques of sapphire rubies will most likely have an effect on the demand for natural gemstones.

All the ages of owning rubies have been characterized by inflation in the prices even though external factors have greatly emphasized on the changes in price history. It is important to look at these factors not only for understanding the assessment of value in the past but also for making an estimation in the future in such a fast changing industry as made precious stones.

Elizabethan Era witnessed the emergence of many an exotic stone in the world and the one that drew immense awe and admiration was burmese ruby. The presence of such stones and the desire to trade them is one of the prime reasons why contemporary tales of geopolitics espouse the narrative of globalization. Although, rubies from the territory which is currently called as Myanmar have been cherished since ages, their exceptional status in the global market developed during certain time periods of history and due to particular historical events.

The process of collecting and evaluating the jewel stones like rubies in the Myanmar country has been jangling in the hearts of people for centuries now. Ancient Chinese writings record that there were fine red gemstones protruding from the ‘Land of Rubies’ – the territory due south, which is assumed to refer to Burma and more specifically to the region around Mogok. However, these burmese rubies were known well to other parts of the world dominated geographically, because it was in the middle ages that these mostly attained popularity outside Asia.

The point of inflection for the acceptance of Burmese rubies in the West, however, arrived in the late Middle Ages and the Renaissance. Sophistication in usage of trade routes and deeper explorations of Orient provoked the fiction of red stones that were in Burma which reached the ears of aristocracy and affluent merchants in Europe. Within a short span of time, the legendary deep red hue – referred to as – ‘pigeon’s blood’ was associated with the best quality Burmese rubies that aroused all gem admirers and these became the best rubies in the world.

In those days during the 16th and 17th century , burmese rubies became extremely famous amongst the royal courts in Europe. The famous Mogok mines located in the interiors of Burma were the chief contributors of these precious stones. Added to the factors as to why these rubies excited interest was the fact how these ruled-controlled remote mines were hard to reach.

The annexation of Burma by the British Empire during the 19th century also represents another evolution in the history of Burman rubies. With this change of government, there were more direct trade routes and a greater western participation in mining these gemstones and in their distribution. Thus, the Burmese rubies flooded the world markets only solidifying the belief that these rubies are of the highest grade in the entire universe.

In the Europe and America of the late 19th century and the early 20th century, there occurred a craze for colored stones among the rich. Balanced against this is the term the ‘Golden Age of Jewelry’. Numerous such pieces featured gorgeous Burmese rubies. Well-known jewelers who at the time included Cartier and Tiffany & Co, tasked themselves with sourcing the best specimens of Burma rubies for their finest designs, and so helped to popularize the gemstones even further.

Nursery protests are a part of the science that has developed in the last century, gemology, to assist in what all gemstone dealers have maintained, that there were inclusions in the Burmese rubies that are not found in other rubies. An area of geology known as the Mogok region contains rubies that have a unique glow from a high level of chromium and very little iron.

Even with all the political problems such as trade bans and embargoes and the periodic change of control over the mines, Burmese rubies despite everything have stayed on top of the gemstone industry. So what if new ruby sources were discovered as in For Madams Thailand, Tanzania, and Mozambique, made fine quality BMBS rubies still fetched and enjoyed the highest prices among the collectors and the initiated.

Lately , concern and problem over high-grade Burmese rubies has only gone up, which has resulted in the spike of prices even higher than before. The high-profile auctions sales like in 2015 where a ‘Sunrise Ruby’ went for more than thirty million US dollars, are testimony to the fact that such stones will forever be in high demand.

In the modern era, rubies from Burma continue to be the reference point for any other rubies in existence. From the far the outbacks of Mogok where they are get mined, to the highest point in the gem market in the entire world, they have indeed come a long way and this is all because of their beauty and how they are interwoven with many aspects of culture, history and even the geology of the region.

As far into the future as we can envisage, it is very likely that the status of the Burmese rubies that they are heavily sought after will continue. Owing to their continued availability aging societies, high regard for colored stone now red rubies of Burma will always perverse high monetary value and interest from fans of gemstones all over the world for ages.

Over the years, the unearthing of new ruby deposits has caused a lot of changes in the prices of rubies. In most cases, these changes result in alteration in the market by which rubies are operated. However, it is not only the price and quantity of rubies that has changed because of these deve;opments, but also the tastes of people, methods of mining, political relations among different countries.

One of the most important discoveries shall be remembered in the late 1800s, in which ruby deposits were discovered in Mogok (now Myanmar) The occurrence of this deposit changed the world forever since rubies of impeccable quality began to flow into the market. History shaped them, as they represent the most exquisite colored stones, the vast majority of which –with a few exceptions- are produced in Myanmar. To begin with, the increasing availability of rubies led to a shorter price decline. Due to the exceptional quality of these rubies, which was eventually everybody came to understand, however, prices for the best stones tend to climb.

Rubies were also discovered in the beginning of the 20th century , but in Thailand instead. These additional sources of rubies have made less expensive ones easily available in the market. Although this finding lowered the average price of rubies in the market today, it also resulted in a more refined position within the market of the other rubies available, being the presently more expensive and priced Burmese rubies compared to cheaper Thai rubies, which in turn further increased the demand and price for the superior quality Burmese rubies.

In the 1960s ruby deposits were discovered in the East African continent with the most notable ones being in Tanzania and Kenya. This finding caused a tremendous decline in prices for rubies from other countries because such new rubies increased the volume available for supply into the market. Nevertheless, the rubies from East Africa were mostly treated with heat to improve their color and as a result led to the introduction of gemological processes, and subsequently the prices based on treatment changes.

Toward the end of the twentieth century period, also occurred the discovery of rubies mining resources in the country of Vietnam. These rubies especially the Luc Yen ones had many similarities with the valuable Burmese rubies. Their advent in the market was especially helpful in substituting the Burmese rubies that were in short supply due to the boycotts against the Myanmar. This helped supply orientated price stabilising strategy.

This has got to be the most recent and consequential finding . Difficult to pinpoint recent times but probably in the early 2000s the world was shocked by the discovery of huge amounts of rubies in Mozambique. The Montepuez ruby mine located in Mozambique emerged as one of the leading suppliers of rubies across the globe. This caused all consumers of rubies to feel the drop in prices, especially in cases of average quality rubies. Nevertheless, as everything else came to age, the mining, the metamorphosis of Mozambique rubies prices downward turned and even upward trends for quality elite ones.

The dynamics of such discoveries has often not been that simple when it comes to their effects on the global pricing. Certainly new sources make for additional volumes which in the short run probably lower the price. Then again other factors. How quickly on extraction, new deposits of what quality, politics and lastly the state even demand will all x out how prices react in the end.

In addition , each of the discoveries made in the recent past has also caused a shift of gemology and the methods of mining. These modern advances have in some instances increased the effectiveness of ruby mining operations, which may help to reduce production expenses. On the contrary, they have made it possible to grade and trace the ancestry of a stone, which in turn inflates the price of the stone from the targeted regions.

The emergence of new deposits has also changed the considerations regarding marketing, particularly in the case of finished jewels. New sources were created, and therefore retailers and marketers were forced to change such strategies, including the marketing of rubies from their origin’s specific features to create additional market segments.

In these last few years, the influence of new sources on the prices has been balanced somewhat due to the growing consumption of colored stones, or especially to rubies. Because of the emergence of new economies, especially China and India, over the years, there had been considerable rise in the demand for better and superior rubies which also kept prices steady despite the rise in supply of other sources.

In one way or another, the find of new ruby deposits will still be a factor in determining the global pricing. Nonetheless, growing ecological awareness, moral issues regarding Diamond and ruby mines, and the lack of new easy-to-reach deposits may restrict the effect of future findings on price reduction. Instead, we may well continue to see increased prices for high-quality rubies irrespective of new findings as the pricey stones remain expensive and well sought after by the global market.

Ruby gemstones have been in high demand due to the presence of royal families in each period of time. The market value of rubies has grown with time in addition to their cultural and symbolic meanings. The passion that the royalty had for these crimson gems has made them one of the most desirable jewels to possess on the planet.

In historic societies , rubies were seen as stones denoting godliness and royalty. Pharaohs in Egypt and maharajas in India carried rubies as they believed these precious stones fortified their rule. It is because of this early acceptance of the gemstones by royalty that stretched the popularity of rubies to being emblems of power and prestige.

With the passage of time, the nobility of Europe was captivated by red gems, in particular rubies. As Kings believed in their divine right, rubies were also inlaid and worn as part of the crown, as an evidence of divine authority that comes with the monarch. The tradition of wearing rubies in crowns is exemplified by the famous ‘Black Prince’s Ruby’ which is a spinel in the British Imperial State Crown.

From the time of the Renaissance onward, demand for rubies also surged among royals. With the expansion of the boundaries of sea exploration and trade, royalty in Europe was also able to procure more of the exquisite rubies found in Burma and other East countries. Monarchs such as King Henry VIII in England or Catherine de Medici in France had no shame in collecting costly rubies, increasing the demand for the stone even more.

The 17th and 18th centuries marked the golden age of monarchical absolutism in Europe, and it is during this epoch that the gemstones played an important role in concluding royal power. Louis XIV, aka ‘Sun King’ of France, had a keen appetite for red stones and used them in his personal wear and even decorating the palace. His obsession with these stones turned trends across the continent leading to an increase in the ruby craze amongst the bearings class and rich traders.

With the advent of the colonial period , however, came more chances for royal houses to source rare rubies. Due to the British Empire’s occupation of Burma (Myanmar), the story of remarkable rubies became accessible exclusively to the British Crown. A number of such rare rubies adorned royal pieces were created at the time many of which are still in the royal households.

The royal brides and the royal crowns reinforced the trends in the use of precious rubies and created even greater public demand. Rubies worn by royalty in engagement rings, incorporated in tiaras, and other ceremonial jewelry pieces have motivated people from within the society increasing the demand and the prices considerably.

The 20th century however recast the functions of nobility but in the ruby industry, they still remained very active. With the coming of photography and the mass media, the masses got more exposure to the royals and their jewelry. The war resisters and the inflexible occupants wore these luxurious rubies at state and city affairs where photographs were taken and enhance the public’s appetite.

The internal dynamics of modern royal families have changed in relation to wearing jewelry, now more frequently embracing modern trends instead of being limited to traditions. Diana princess of Wales was known to have a penchant for colored gemstones including but not limited to rubies spearheading the craze of such stones toward the end of the twentieth century. Recently however the likes of the ducal Catherine Middleton have also been seen in ruby jewelry, proving further the ability of royal families to dictate the fashion trends of gemstones.

The royal families’ influence over the demand of rubies does not only lie in buying them. This has also affected jewelry designers who have been forced to obey such trends to survive in the market. The demand for rubies has also been heightened by the fact that rubies which are considered royal have a certain status which has been highly appreciated in auctions and in the markets.

Many contributions to the collection of jewels owned by royalty have also been important in ensuring that some of the world’s most notable rubies do not get lost over time. Few quite a few historic precious stones are stored in royal treasury cabinets adding to their intrigue and allure of rubies in general.

In the last few years , some of the royal families have been more responsible with their power and have started encouraging ethical and sustainable practices within the gemstone industry. This has created a change in the market where sapphires with ethical assurance are becoming more in demand, thereby affecting the market of rubies more or less.

Looking ahead while the real political power of a number of royal houses has waned; their soft power still remains powerful. As long as royalty reigns supreme in the public imagination, their selection of gemstones will continue to set fashions and create the thirst for rubies that the world over.

Due to a history where the people in power have always been suthe ll and patronized for many generations, the red color and the stone associated with it ie ruby has been used to mean power, love and dominance. The appeal of rubies and for that matter, the ruby gemstone ranging from royal power, power in crowns to engagement rings even today because of the centuries old rubies cult among royalty that ensures their highly polished and finished treatment and therefore keeps their sharp demand and enormous prices in the thick of precious stones market about rubies.

From the 1900s, the entire field of gemology and its application to rubies has grown in all dimensions, meaning that these gemstones have gained appreciation in the market more than ever. These developments have not only brought rubies to the scientific age, but also a more precise and realistic estimation of the quality and worth of rubies.

In the past, the simple techniques that involved the use of well-practiced visual and traditional observation and recordings would be overlaid on other more intricate procedures such as audiovisual information, which in any case relied on human judgement and would take ages to produce actual results. The rise of modern gemology towards the beginning of the 1900’s marked the end of largely traditional ruby valuation. The reason being, the emergence of methodical and appropriate tools and technologies that enabled scientific measurements of tears and their components.

As early as the 1900s , a major tool was developed, that changed practices in the industry. This device assisted specialists in determining gemstones refractive index and enabled them to tell natural rubies from blue and pink synthetics and rubies. This decreased the risk associated with rubies, thus increasing the demand and the price in the market.

The importance of specialized gemological microscopes in ruby valuation cannot be understated. Gem experts are able to scrutinize rubies under very powerful microscopes, which magnify many times their sizes. This has enabled them to learn more about the inclusions, the patterns of growth and other characteristics that help in tracing the source of the ruby and its treatment status. Knowing that the attractive pricing cannot be from them, pricing has shifted significantly, with untreated standing up on the shelves in markets filled with rubies to the natural ones sources from Burma (Myanmar).

Another advancement that has had a significant impact is spectroscopy. For instance, techniques such as UV-Vis-NIR and Raman Spectroscopes have provided gemologists tools to study the composition of rubies. This has helped in analyzing elements such as chromium which gives the ruby its red color and also in the identification of certain treatments. Knowing how to prove scientifically the composition of a ruby has advanced the crafting of rubies to the extent that their prices are frequently increased for ideal compositions of the stones.

The late 20th scientific also brought with it significant contribution in the heat treatment detection. Undoubtedly, heat treatment has long been practiced and known in many countries of the world in order to improve the color and the clarity of rubies, but unfortunately until the very recent developments in testing most of the gemologists could not properly verify that this treatment was employed. Because of this capability development, the market for rubies has been clearly divided into two categories; the treated rubies and the untreated rubies, with the latter commanding higher prices.

Also , the evaluation of rubies has been positively influenced by developments in the origin determination. This sophisticated analytical technique enables gemologists to examine trace elements in rubies that are quite suggestive of the geographical source of the rubies. This is important owing to the fact that rubies from certain places are highly coveted, Myanmar (Burma) being one of them.

Advancements in the means of bulk production of synthetic rubies can be categorized more under sociocultural than scientific developments in the gems and diamond industry, which is the primary reason for a change in the valuation of natural rubies. With rubies cultivated in laboratories becoming more intricate, so did the techniques employed by gemologists to differentiate them from their certain-to-be natural counterparts. This resulted in a newfound optimism in the market for natural rubies, in many cases, arguing for higher prices for such stones that can be proven to be natural.

The color assessment and color grading of rubies underwent a radical change with the introduction of electronic imaging and color measuring devices. Although the evaluation of the beauty of a ruby depends mostly on the eye of the beholder, such apparatus provides a more scientific approach to color shading. This has promoted uniformity in the valuation of gems and even in the development of such descriptive ‘scientific’ colors like that of the most desirable rubies called ‘pigeons blood’.

With the development of computer data bases and World Wide Web technologies, the circulation of gemological materials is becoming quite rapid. This increased connectivity has fueled the research and development of rubies, as traders and gemologists are able to check the current market trends, relevant studies, and even previous sales within a short period of time.

The non-destructive methods of testing like the photo luminescence spectroscopy are gaining more relevance towards the analysis of rubies over the recent past. This is because these techniques enable a gemologist to obtain information regarding a ruby’s internal structure, inclusions or treatment history for instance without damaging the specimen and therefore such information is essential for appraisals without compromising the value of the stone.

In Progressive Outlooks , Factors such as artificial intelligence and machine learning are expected to make their entry in the analysis of gems. These enable them to process vast amounts of data and extract trends and features that assist in further development of the processes such as ruby grading and evaluation, which would be tedious or impossible to do with untrained human eyes.

Rubies have witnessed technological advances and hence the practice of giving them value in the present day society is no longer an art which is passed down but rather a scientific venture based on objective measurements and analysis. While the pricelessness of fine rubies still remains the greatest values, these modern scientific mechanisms have introduced advanced but more dependable parameters that explain and determine the value of these jewels. As time lapses and technology improves, it is only easy to anticipate queuings of evolution and refinements in the process of working out the worth of rubies warding off incidence of any exaggeration or overpricing of wore evaluation.

Rubies and trade are interconnected , and as such, the two have been subjected to and shaped by globalization and commerce over the years. Economically, these factors have been instrumental in determining the supply and price of these gemstones over time, hence the typical rubies market today.

In older civilizations, the primary route affording access to rubies was the Silk Road. Or rather, the term is used to characterize not one, but several regions of trade trade connecting East with West and allowing rubies to be transported from the sources in Asia to the consumers in Europe and the Middle Eastern Countries. But then again, the very idea of distance and the concomitant risk and cost which would be incurred in carrying all these precious stones for such long stretches made them few and expensive additions to the luxuries available in the West.

The development of oceanic trade routes in the 15 th and 16 th centuries Age of Exploration was a turning point in the trade in rubies. New sea routes to the East were opened in the way the Portuguese, the Dutch and the English, all avoiding the old and long overland routes. This led to better sea lanes to the sources of the rubies situated in primarily Burma and Siam. At the beginning, when travel by these improved sea routes became cheaper, the movement of rubies to Europe increased, which caused a drop in prices of the rubies. Nevertheless, while this encouraged easier movement supply of rubies to the European market, the trading companies such the British East India Company who controlled the routes managed to arrange supply and demand in their favor.

The colonial period had an impact on the trading of rubies. When territories that were rich in rubies were taken over by European nations, the British in Burm. For instance, they could access the ruby mines. Such access allowed for increased mining and collecting of rubies which might have led to enhanced productivity, however, it led to restrictions in the veneer of rubies and rubies as commodities.

The effects of the mechanical industrial revolution and the evolution of transport and communication on the cheap rubies industry is quite great. By the time the steamships and railways were invented, there was improvement in the speed and reliability of transport, including the transportation of rubies. Thus the efficiency in transport led to a wider distribution of rubies in the world market. On the other hand, the expanding industrial middle class brought to existence a new type of ruby market, thus escalating the prices of rubies.

Global economy underwent significant transformations in the twentieth century that had a corresponding relationship with the ruby trade. The two World Wars altered the existing trade patterns and geopolitics by creating a shortage of rubies which caused a rise in prices. The economic growth experienced in most western countries after the wars created an appetite for more luxury goods including expensive rubies thus making their prices escalate.

The last few decades of the 20th century as well as the turn of the 21st century has altered the market for rubies positively. The pleasures of global travel and communications have opened up the markets allowing the buyers to go straight to the sources of rubies which means they no longer deal with the customary middlemen. This factors has however brought strong pricing competition with increasing most especially in demand from the developing countries of China and India.

The advent of the internet and virtual commerce has changed the perspective of purchasing and selling rubies. The advent of web based marketplaces and auction systems helped in connecting the buyers and the sellers across the world improving the market but also subjecting it to risks associated with extreme competition and rapid price changes.

The presence of trade sanctions and prohibitions is also another element which has affected how rubies are traded today. For instance, the Mong government in the early 2000s, which imposed U.S. sanctions on the sale of rubies from Burma, had a profound impact on their supply and pricing around the world that arguably created an appetite for rubies from other countries such as Mozambique.

The gold price is always showing strong dependence on economic cycles, this has especially become clear after the 2008 global financial downturn and the business fluctuations that followed it. Uncertainty in the economy often leads to higher disposition for investment in physical asset classes such as stones and this may lead to high prices of these commodities while recession periods lower the purchasing power of individuals and thus low demand for high-end rubies which are treatable as luxuries.

Considering the developments that are yet to be experienced, the rise of new global economies, shifting consumer behaviours as well as changes in trade policies are expected to continue influencing the supply and pricing of rubies. There is an increasing focus on the sourcing and sustainability of gemstones and it is possible that this will have great impacts on the structuring of trade and pricing of the goods since people are beginning to favor stones that are not only attractive but ethically sourced.

Finally, we have researched the historical patterns in the rubies trade and the factors associated with import and export trade. All through history, trade routes such as the Silk Road and the Internet have had an impact on the acceptance of rubies and their pricing as rubies have a great economic value. The ever-changing economic environment implies adaptation of business strategies in the sector of trade in rubies, thereby, the encouraging nature of these sparkling rocks that intrigue most human beings will not come to an end.

Historically , the price of rubies has seen changes for various reasons, indicating how keenly the stone has reacted to external activities. Such price changes are a reflection of the multifaceted significance of the many regional geopolitical, economic, and cultural factors at play in the trade in precious stones.

Familiarize yourself with the most important spheroid structure of zigurats. One of the earliest events that had a considerable impact was the disintegration of the Mughal Empire in the 18th century. The collapse of the Mughal Empire resulted in the division of many copious royal stores of gems that contained remarkable rubies among them. As a result of the rapid saturation of the market with the quality stones, there occurred a brief decline in their values especially within India and its neighboring markets.

On the other hand, the British colonial takeover of Burma in the latter half of the nineteenth century was another important event. The British captured the Mogok ruby mines and as such production increased and trade became more organized. At first, this led to a drop in prices as supply increased. This however was because broad consensus was already in place concerning the good quality of Burmese rubies and thus prices increased for the best stones available.

In 1917, a Russian revolution had an unexpected influence over the rubies. The Romanov dynasty was overthrown and as a result, the imperial jeweler's collection was up for sale, which included a lot of rubies. Many previously unheard of cut and uncut historic gems flooded Europe and they created quite a stir in the prices, mainly for the old and great ones, who were larger in size.

World War II had a significant impact on the international gem industry. Luxury goods and raw material imports were limited because of the war and other factors. However, in the years after the war, there was massive interest in rubies and other stones, which were considered to be safe investments in turbulent economic conditions. This resulted in an increase in the prices of these gemstones.

The ruby market underwent a torrent of changes following the independence of Burma (Myanmar) in 1948 and political developments there. The markets were restricted and the trade was not free at times which made Burmese rubies scarce and created a high price market. However, the periods of trade easing experienced the opposite, with affluence of the stones and reasonable prices.

In the 1960s, large rubies were found in Thailand which resulted in the unfavorable reggae prices especially for the low-grade stones. But this discovery improved the heat treatment technology and eventually, new market segments were developed.

The Iranian revolution of 1979 had its own implications for the trade in rubies. Following the ouster of the Shah, who owned a huge collection of rubies among other precious stones, his collection was introduced into the marketplace. The sudden influx of such quality bulk rubies displaced prices of even the most expensive rubies for a short period.

The dissolution of the Soviet Empire in 1991 brought a lot of economic turmoil, which also had an effect on the world’s luxury market, more so rubies. At first, it caused a fall in demand, but this was reversed as rich men started arising in the countries that were once part of the Soviet Union, causing a new spike in the prices of rubies.

Around the same period, there was no such trend, as the discovery of the significant deposits of rubies in Mozambique in the early 2000s marked the beginning of a new era in the industry. The availability of rubies from Mozambique caused an oversupply and thus a fall in market prices at the onset, more so for the medium-grade rubies. Nevertheless, this market became stabilized and new prices were created as the standard of rubies in these regions was appreciated.

In 2008, the United States surprisingly placed sanctions on Myanmar, including the embargo on importation of rubies. As a result, this contributed to the rapid increase in prices for existing stocks of Burmese rubies in the us market and created an insatiable appetite for rubies from other countries.

There was a drop in the prices of rubies, following the financial meltdown of 2008, because of a plunge in the expenditure on luxury commodities. Apt high-end rubies that the investors began to make a move for as a safe haven of their wealth saw the upgrading of the prices at which the stones are being sold.

In recent years, this has changed as many stakeholders have created an interest in ethical sourcing in the gemstone industry. This has caused prices of rubies with tangible ethical provenance to increase, thus altering the existing market conditions.

These instances from history showcase that there are numerous elements that impact diamond pricing and some of them could be wars, economies and even peoples’ sentiments. Looking at these patterns and understanding the history helps in appreciating the intricacies of the ruby market and the way it reacts to external factors.

Rubies are generally rare , nonetheless, the argument surrounding the economics of gemstones in relation to historical prices of rubies is enthralling. Gender-wise, there has always existed a scarcity of high quality rubies which has made its price value extremely high hence drawing a direct relationship between price and scarcity.

Any fantasy of finding large , good quality rubies has always remained just that, a fantasy. While the numbers of gem diamonds are easily available, stones carving out to a few carats weight and of high quality rubies are rarely available. Such intrinsic quality can be attributed to the fact of their pricing history with bigger ones enjoying more than outrageously charged premiums.

In ancient cultures , the uncommonness of rubies made them intricate designs that were limited to the potently influential people. Narrations from classical Rome, Greece, and china recount how rubies went out of diamond and other precious stone better than rubies. Such affluence in the precedence of, most historical literature is attributed to the unavailability of the gemstones in question and their importation.

And when it comes to the rarity of rubies, it is not only measured in terms of size. The depth of color as well as the degree of transparency are the other determining criteria. "Pigeon blood" is the term used to describe the color of the most sought-after rubies—the characteristic saturation of red that every connoisseur of gemstones dreams of penetrating. The fact that this color attached to this clarity is so hard to come by has made rubies very expensive from ancient days.

As history depicts , the medieval ages saw that due to their infrequent acquisition of exquisite rubies, such stones became highly regarded in royalty and religion. These rubies were found in most royal and imperial treasury of Europe and Asia and were often fabled. Because of such gemstones scarcity, they where normally kept and nsot frequently used and hence traded such that, the kernels acquired continuously remained in the collections without being blown up to the market deflating to the worth degree.

Reporting the 15th century discovery of the Mogok mines in Burma (now Myanmar) greatly raised the level of scarce rubies available. Even so; owing to this fresh source, the top echelon stones proved challenging to get. The unceasing absence of superior quality Burmese rubies has shielded their pricing from slips for ages past.

In the century XIX as gemmology became a real science. The generalization on the importance of fact of rarity of rubies was expanded. Diagnosis of the modern approaches to the valuation of rubies led to higher prices which however did not eradicate the main reason for pricing and value creating of imitation stones that is, rarity.

In the early twentieth century artificial rubies were made and this was a striking difference that gave appreciation to the natural one since they were rare. While manmade materials can reproduce the composition of rubies, natural rubies of great quality remained unaffected in pricing proving the point that natural rarity is what determines the worth.

The advancement of current techniques in mining has raised the overall amounts of rubies available in the market, however there are contradictions that make it abundantly clear as to the description that such exceptional states are and will significantly be more rare. With more rubies getting to the market, the concentration of large untreated good quality rubies available for sale becomes alarmingly low hence the introduction of their sky high prices which has never been seen in the history of selling rubies.

Recent auctions have demonstrated the extreme values placed on rare, high-quality rubies. The sale of the mysterious ‘Sunrise Ruby’ (more than 30 million dollars over 3 million dollars and within much smaller than average sized diameter showcases a specific trend: the historic intangible value also sells in contemporary times).

With respect to rubies, the geography appreciation pattern is clearly visible in that they have a price elevation for rubies that are cut from particular regions. Rubies from Burma especially those found in the Mogok region than the rest of the world not only due to the risk of finding one.

The tendency should however favor the extreme rarity of rubies of superior quality in the years to come An overwhelming number of classical mines are becoming exhausted and the more so such finds are rare. The increasing unavailability of product points out that expensive rubies have had, and will have in the future effects useful for many industries.

In the final analysis, the high cost of rubies that are of good quality can be said to have come through out their history. Fine rubies remain rare and in high demand, whether in ancient times or modern times with their ravishing beauty even in present day jewelry auctions. With time, even in the years to come, the theory that low supply leads to high demand and high prices will hold water with respect to the availability of high quality rubies. This ensures that high quality rubies continue to be, among the most expensive gem stones in the market.

Much of the past perception of ruby value acculturated due to importance of rubies attached within different cultures over time. From several cultures and time, rubies have carried significant cultural, religious, and hierarchical values which explain their perennial worth.

In Sanskrit , the word ruby is called ‘ratnaraj’ meaning the believes and attitudes of Indians towards a ruby and alike precious — rubies were even more valuable than diamonds in ancient India. Purchasing power for rubies was also fueled by a superficial belief that they were lucky charms and protective from ill willed people.

In China , the historical symbolism of the gem ruby is linked with – chi, or “the life-force”. Hence, rubies were not only occupied notable positions in people’s attire but also as amulets to attract and safeguard health and wealth. Some of the elite wore rubies as part of their jewellery, which helped to reinforce the ideology that such rubies represented a ruling class.

The ancients in Greece and also in Rome treated rubies as those that could help the bearer in matters of everlasting love. This romantic angle made rubies saleable not only during festive seasons but in everyday life driving te prices extremely high. However it was not only people that used rubies that made them valuable, Pliny the Elder a famous Roman scholar documented that rubies would change color upon the approach of danger making it an even more intriguing stone.

The Bible has references to rubies on many occasions whereby they are mostly used in the praise of wisdom and beauty. Because of this religious import in the context which in turn raised the status of rubies in the west, rubies became very luxurious commodities among churchmen and aristocrats.

Even in medieval Europe, old times rubies were thought of as having the healing power. When these stones were worn or taken in, they were also believed to heal excessive loss of blood and other inflammatory conditions. This new aspect added to their already inherent high worth, making them not only beautiful but also very powerful.

In addition , the link between rubies and royalty has been a constant factor in all societies and at all times. In most cultures, the wearing of rubies was restricted to the royalty or the upper echelons of the nobility, creating an aura that gave them even more value. This reason explains the existence of significant rubies in the collections of many royal vaults around the globe.

The Islamic views on rubies are quite positive as it is reported in some cultures that the stones were made out of crystallized blood of Allah. This reverence for a ruby affected its worth in an Islamic society which, more often than not, existed within ornamental objects as well as the ones worn by royal families.

Within the Buddhist tradition, the ruby corresponds to the aspect which propels life and is thereby used as an emblem of peace and wealth. Dedicating rubies into the soil of buildings for architectural projects as a costly habit illustrates how rubies are also important culturally along with ornamental purposes.

Rubies have a strong foothold in the culture of the Burmese and there are legends that say that eagles would embed rubies in their flesh to protect them from deaths of their enemies in between battles. Such a belief not only fueled the craving for rubies but also added the flavor of rubies relating to Burma.

With the passage of time , especially during the Renaissance, the significance of rubies was expounded to include also the cognitive and creative sides of a person. Rubies became coveted emblems of emotion, inspiration and creativity among both the artist and the art patrons. This further increased the distinction and enhance their worth.

In more modern times, the association of rubies with certain important stages of an individual’s life has especially grown regarding them being namesakes of the 40th wedding anniversary. Such an evolution in the contemporary context has ranged rubies beyond the functions of jewelry to represent the ideas of love and lasting bonds.

The cultural outlook of rubies as essences of love and aggression has also been shaped by their representation in literature and popular culture. From the classical epics to contemporary cinema, rubies occupy places in every creation as coveted possessions, which keeps them in the public eye.

In most Asian cultures, red, personified by rubies, is considered a color of power and wealth. In turn, everywhere a red cultural orientation prevails, the demand for rubies is ever high, mostly in countries such as China and India where there have been economic upsurges which have led to a renaissance of interest in gemstones.

Due to the timeless cultural relevance of rubies in various social systems through space and time, rubies have always inherently commanded a high value. As the years go by, these ingrained cultural perspectives are still of utmost importance to the ruby's value.