Auction house Sotheby's will offer the world's largest ruby in New York in June, estimated to fetch over $30 million.
The auction house made the announcement at a preview in Hong Kong on 17 April, according to a Reuters report. The stone was unearthed from mining company Fura’s ruby mine in Mozambique's northern region of Montepeuz in July 2022.
The report added that this would probably make the 55.22-carat gem, known as the Estrela de Fura, the most expensive ruby ever sold at auction, said Uni Kim, a specialist in Sotheby's jewellery department in the Asian financial capital.
"It is from Mozambique, which is also one of the new and more popular origins that we see for rubies, apart from the more traditional and the classic Burmese pieces," Kim added.
The current world record for a ruby sold at auction was set in 2015 by "Sunrise Ruby," a 25.59-carat Burmese stone that fetched $30.3 million at Sotheby's in Geneva, the Reuters report said.
Kim said the ruby, to be offered at Sotheby's Magnificent Jewels sale, was a 101-carat rough gemstone when first discovered, fuelling excitement among many in the gem industry, the report added.
The quality and size of the gemstone "is almost unheard of", Dev Shetty, the chief executive of Fura Gems, said in a statement.
"We estimate Estrela de Fura to be sold in excess of $30 million," Kim added. "Hopefully we'll be able to see it just setting a new record for Mozambique rubies."
After being exhibitied in Hong Kong, the gem will be displayed in Taipei, China, Singapore, Geneva and Dubai, before being auctioned in New York on 8 June, states the Reuters report.
Meanwhile, a pair of sneakers, worn by Michael Jordan during the 1998 NBA Finals, has fetched a record $2.2 million at an auction, making them the most valuable sneakers ever sold.
According to a Reuters report, the Air Jordan 13 "Breds", short for “black and red”, were worn by Jordan in the second game of the Finals during his final season with the Chicago Bulls, referred to as the "Last Dance".