‘Sunrise Ruby’ lights up the auction world"

Geneva--A ring set with a 25.59-carat Burmese ruby set three world auction records Tuesday when it sold for $30.3 million to an anonymous buyer at Sotheby’s Geneva.

Called the “Sunrise Ruby,” the untreated pigeon’s blood red-colored stone not only set a new world auction record for price paid for a ruby, but new records for price paid per carat for a ruby and price paid for a jewel by Cartier.

The high price of the gem contributed to Sotheby’s May 12 sale of Magnificent and Noble Jewels achieving the highest-ever total for any jewelry auction at $160.9 million, dethroning Christie’s November 2014 sale of Magnificent Jewels in Geneva, which totaled $150.2 million.

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