Monaco—A 7.1-carat Burmese natural ruby and diamond ring sold at auction this week for €2.9 million ($3.3 million), eclipsing its pre-sale estimate of €150,000 - 250,000 ($164,000 to $273,000) by nearly 12 times.
Set in an 18-karat yellow gold daisy-style ring by Guillemin & Soulaine, the stone is surrounded by 10 diamonds weighing between 0.4 and 0.5 carats each. According to its SSEF report, the ruby is unheated and received a "pigeon blood" color grade, consistent with the finest rubies from the legendary Mogok mines in Burma (Myanmar).