Ruby Ring Crushes Estimate at Auction

RAPAPORT... A pigeon's blood Burma ruby more than doubled its high estimate at a Doyle sale in New York last week that featured big hitters such as Graff and Cartier.The 3.90-carat ruby is set in a circa 1920 ring with a 2.65-carat, F-color, VS1-clarity diamond, according to the US-based auction house. The piece sold for $510,300 against an estimate of up to $250,000.Included in the same collection was a Belle ??poque brooch dating to around 1910 and set with a royal-blue Kashmir sapphire weighing roughly 5.12 carats. Competitive bidding drove the brooch to $409,500, more than double its $200,000 high estimate.Overall, sales reached more than $4.8 million at the auction, surpassing the organizer's low estimate of $2.1 million by 135%, with 93% of lots sold."Bidders from around the globe vied for luxurious jewelry from prominent collections and distinguished estates across the country," Doyle said. The high prices achieved reflected "the current robust market," the auction house added.Image: The Burmese pigeon's blood ruby and diamond ring. (Doyle)