$120mn worth rare rough ruby on display at Dubai prior to auction

By Arya M Nair, Official Reporter
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Representational Image | Image Courtesy: Photo by Arif Khan on Pexels

Burj Alhamal, a rare rough ruby worth $120 million dubbed one of the world’s biggest, has gone on display for the first time ahead of an auction in Dubai.

The 8,400-carat stone, weighing 2.8 kilograms was mined in Tanzania and debuted at a Dubai hotel as part of the unique mineral & metal asset management company, SJ Gold and Diamond’s Callisto collection. The collection includes 12 rough rubies that together weigh an astonishing 236,000 carats.

The stone’s arrival in Dubai reinforces the region’s position as a global leader in the gemstone industry. In recent months, both Sotheby’s and Christie’s have picked Dubai as the launching pad for global touring exhibitions of valuable watches and jewels.

The stone, which has never been seen in public before, is currently on exhibition at Dubai International Financial Centre (DIFC) and will be auctioned shortly after Ramadan.

The company’s managing director Mr. Patrick Pilati said that the Tanzanian stone was not heated, meaning it has not been treated, so it’s natural and that’s why it’s precious.

According to reports, the rough ruby with greenish and dark-purple hues will be on display at different locations in Dubai for the next 30 days before going to auction. Last month, a giant diamond nicknamed “The Rock” went on display for the first time in Dubai.

The 228.31-carat pear-shaped gem, which was mined and polished in South Africa more than 20 years ago, is the largest white diamond ever to come to auction, according to a British auction house, Christie’s. The diamond is expected to fetch over $30 million.

Related: 5-day Doha Jewelry & Watches Expo to kick off from May 9