Ruby · Price Guide
Ruby Price Guide (2026)
Ruby pricing swings more dramatically with quality than almost any other colored stone — a heated commercial stone and an unheated Burmese pigeon-blood stone of the same carat weight can differ in price by 20x or more. The ranges below are indicative starting points for loose, certified natural ruby in the Indian market; your own quote will depend on the specific stone's color saturation, clarity, cut, and certificate.
Indicative price bands
| Quality tier | Typical range |
|---|---|
| Commercial (heated, included) | ₹8,000 – ₹25,000 per carat |
| Good (heated, eye-clean) | ₹25,000 – ₹80,000 per carat |
| Fine (lightly heated or unheated, vivid color) | ₹80,000 – ₹3,00,000 per carat |
| Collector (unheated Burma, pigeon-blood) | ₹3,00,000+ per carat |
Indicative starting points for loose, certified natural ruby in the Indian market — the specific stone's color, clarity, cut, and certificate determine the final price. Request a quote for an exact figure against a documented stone.
See how to judge quality for yourself in our Ruby buying guide, and how we verify every certificate on our Ruby certification page.
Common Ruby Price Questions
Why do two rubies of the same carat weight have very different prices?
Color and treatment matter far more than size. A 1-carat unheated pigeon-blood ruby can cost many times more than a 2-carat heated commercial-grade stone — carat weight is only one of four major price factors.
Is Burmese ruby always more expensive than Mozambique ruby?
Generally yes for equivalent color and clarity, because of Burma's historic reputation and the rarity of large unheated Burmese stones — but a fine Mozambique ruby can still cost more than a lower-quality Burmese stone of the same weight.
See Current Ruby Listings
Browse certified natural ruby in our catalog, or reach out for anything specific.