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World's Largest Ruby

3 Jul 2023

The Estrela de FURA is described as the 'World's Largest Ruby,' at 55.22 carats. The gem was unveiled by Sotheby's in Dubai.

DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has hosted the unveiling of two extraordinary gemstones at its Dubai Diamond Exchange (DDE). The gems were unveiled by Sotheby’s and will be available at auction in New York on 8 June. The gemstones were:

The Estrela de FURA – a 55.22 carat stone that, due to being the largest and most valuable ruby to ever appear at auction, is expected to command in excess of USD 30 million. DMCC’s DDE hosted the unveiling of the rough Estrela de FURA stone in September 2022.

The Eternal Pink – the most vivid pink diamond to come to market, estimated to fetch in excess of USD 35 million.

The UAE witnessed a strong 17% year-on-year increase in the value of diamonds traded in 2022, totalling USD 37.4 billion combined for rough and polished diamonds. This was driven by a 42% rise in the polished category and maintaining a solid growth trajectory through a 7% rise in rough.

Building upon its status as a leading global hub for the trade of rough and polished diamonds, Dubai is now looking to add further value to the coloured gemstone industry. Most recently, the DDE has hosted tenders with leading coloured gemstone companies including Belmont Group, Bonas & Co., Fura Gems and Grizzley Mining Company.

Feryal Ahmadi, Chief Operating Officer, DMCC, said: “As one of the world’s largest trade hubs for precious stones, there is no better place than Dubai to unveil these exquisite stones. The emirate’s leading role in diamonds has been firmly established, and in hosting a range of coloured gemstone tenders so far this year, we are taking concrete steps that will position Dubai in a similar vein within the coloured industry as well. We are delighted to work with Sotheby’s once again to present these two marvels to the world at the Dubai Diamond Exchange.”

Dev Shetty, Founder and CEO, Fura Gems, said: “In connecting East and West, Dubai has offered Fura Gems the perfect platform to access global markets. The emirate’s precious stone trade infrastructure has been invaluable to us as we build our status as a premier supplier of coloured gemstones for the global industry. We are also delighted to work with Sotheby’s in bringing the magnificent Estrela de FURA ruby to the world.”

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