A Burmese ruby weighing 25.59 carats sold for a world record 28.25 million Swiss francs ($30.42 million) at a Tuesday auction that saw strong demand for colored stones and exceptional natural pearls, auction house Sotheby's said.
"The Sunrise Ruby," which has the rare grading of "pigeon's blood" color, was hotly disputed by two private collectors bidding by telephone, it said, declining to name the anonymous buyer. From a private collection of Cartier jewels, it had been estimated at 11.7 million to 17.5 million Swiss francs.
"A new record price for a ruby," David Bennett, the chairman of Sotheby's international jewelry division who conducted the auction, said as he brought down the hammer to applause.