At Phoenix Asset Consortium Ltd., we only deal with the top 1% of AGL Certified Natural Untreated Burmese Rubies. Natural Untreated Burmese Rubies are the choice of Investors the world over looking for Capital Appreciation, Safety and Liquidity.

Rubies are among the most coveted of colored gemstones and are often associated with passion, warmth and devotion.

The ruby’s rich color, often described as ‘pigeon’s blood’ red, is so highly desired. Clarity is also an essential ingredient of beauty. Sometimes there are fine needles within the stone that reflect the light and give it a hazy shimmer at the surface. Ruby is colored by chromium and blue sapphire by a combination if iron and titanium.

The Mogok mining region of Upper Burma is synonymous with the very best gems. The current most usual sources for rubies are Burma (now Myanmar), Ceylon (Sri Lanka) and Siam (Thailand).
Rubies are often heated to improve their color and clarity. Sometimes colorless glass-like substances are used to fill surface reaching cracks. This information should always be disclosed by the dealer.

Natural, Untreated Burmese Rubies of Pigeon Blood color are the finest of all rubies. They are exceedingly rare and command prices that can be double, triple or even more highly valued than treated stones.

Rubies are perhaps the crown jewel of Myanmar’s resources. Demand for Burmese Rubies has taken off in recent years, especially from China. Prices per carat have soared, jumping by more than 10% a year since 2010. The country is one of the biggest sources of these red gems in the world. As demand continues to outpace the supply of Untreated Burmese Rubies, prices are poised to escalate into the years ahead.

Van Cleef & Arpels Ruby & Diamond Earrings

The sharp decline in availability has resulted in record auction prices, which continue to fuel further increases in dealers’ asking prices. Lighter “pink-red rubies remain a distinct bargain and are expected to be the next color category to experience an upswing in both demand and price.”

The name Ruby derives from the Sanskrit word “Ratnaraj” meaning “King of Precious Stones” and for centuries it was the talisman of power and royalty. Some texts suggest that rubies were traded as early as 200 B.C. along China’s North Silk Route and ancients believed the gemstones would offer protection to its’ owner. The gems blood-red color also associated it with power over life and that each ruby was formed from a drop of the “heart’s” blood of Mother Earth”.

The color most prized is known as “Pigeon’s blood red” – an intense, crimson hue. 95% of rubies possessing this perfect color description hail from the Mogok mine in Burma modern day Myanmar). The most famous of these stones is the 23.10 carat Carmen Lucia Ruby. It is currently housed at the Smithsonian National Museum of Natural History in Washington, D.C.

Ruby is rarer than sapphire and emerald and reigns supreme next to Natural Colored Diamonds as auction house champion! Its’ rarity makes it a solid investment with prices as stable as the Swiss Frank. Evidence of this abounds at auction. Last year Sotheby’s sold a 24.70 carat ruby ring for just over $11 million as well as an 8.11 carat ruby ring for $2.8 million. Christies has reported similar results, often with Burmese origin stones that, like the Hope Diamond, are important enough to have names. The 18.04 carat “Crimson Flame” sold for $18 million in 2015 and the 15.99 carat “Jubilee” which fetched nearly $14.3 million the following year. Other Burmese rubies Christie’s has sold in recent years include a Cartier brooch with a 10 carat ruby for $8.2 million and a Faidee ring with a 10.05 carat stone that brought in just over $10 million! The list goes on with Christie’s top lots currently hovering around $1 million per carat.



The very finest blue sapphires historically came from Kashmir, where the first discoveries were made in 1881 due to a landslide near a remote village at an altitude of over 5000 meters. The mines were depleted by 1925 and almost all Kashmir Sapphires now can only be found at Sotheby’s or Christie’s.

Burmese stones can sometimes rival their Kashmir counterparts, but their color is generally a stronger hue than found in stones from Kashmir. Sri Lanka has remained a key source of sapphires for more than 2000 years. Their sapphires show a lighter and more delicate blues.

A wide range of colors exist for sapphires such as yellow, green, purple or the most popular of all, pink.
Prices for unheated 1 carat Burmese Sapphires have grown tremendously in the last ten years going from $8,400/carat to $16,000/carat and higher!

Cornflower Blue Kashmir Sapphire

Natural Untreated Sapphires are the choice of Collectors, Connoisseurs and Investors who are looking for Wealth Accumulation and Rarity within their Diversification Strategy.At Phoenix Asset Consortium Ltd., we only deal with the top 1% of AGL Certified Natural Burmese and Kashmir Sapphires – Untreated and Completely Natural of Fine or Extra Fine Quality.

For centuries, the Sapphire has been a symbol of faithfulness, truth, sincerity and nobility. In ancient Greece and Rome, wealthy citizens wore Sapphires to protect them from harm and to foster peace with one’s enemies. Thanks to their sky-blue hue, they have also been long associated with the heavens. In fact, ancient lore holds that the tablets the Ten Commandments were written upon were made from Sapphire. In the modern era, the Sapphire encapsulates notions of both royalty and romance, a perception epitomized by Princess Dianna’s legendary Ceylon Sapphire engagement ring.

Untreated Kashmir Sapphires

Sapphires can be sourced from Burma, Sri Lanka, Madagascar and Thailand. The very best quality undoubtedly come from the Kashmir region of India/Pakistan. Kashmir Sapphires have not been found in nature since the last mine closed in 1925. Very few of these stones become available in the secondary or Auction markets and when they do, they command premium prices. Next to Kashmir, Burmese Sapphires dominate the investment quality market.

Recent Sapphires sold at auction include a 4.45 carat Kashmir. Sapphire for $75,618/carat, an 11.24 carat Kashmir Sapphire for $88,879/carat and a 7.79 carat Kashmir Sapphire ring for $84,724/carat.

Columbian Oval Emerald, Natural Pearl & Diamond Ring


In the gemstone world, natural, untreated emeralds and their signature lush green color are the benchmark for all green gems. They are prized as much now as they were thousands of years ago. The most coveted type of emeralds are those that fall in the color range of bluish green to pure green accompanied by a strong to vivid saturation and medium to medium-dark tone. These stones almost always originate at the Muzo or Chivor Mines in Columbia. Color is the most dominant consideration for determining the value of a natural emerald.

Color, consisting of hue, tone and saturation, is the foremost basis on which emerald value is established as long as other properties of the emeralds are identical. Even a very minor disparity in color can have a marked effect on the emerald’s value.

Natural emeralds get their color from trace amounts of the chromium, vanadium and iron. Specific amounts of each, or lack of, will result in particular hues, tones and saturations. The more chromium or vanadium in an emerald, the greener the stone will be. The more iron in an emerald, the bluer that stone will be. A natural emerald that has a large amount of iron will be bluer green in color while an emerald with a small amount of iron will be a lusher green.

Natural Untreated Emeralds of Columbian origin are the choice of individuals looking to safeguard and grow their wealth. 1 carat Columbian Emeralds have grown exponentially in the last 10 years! They have gone from $15,000/carat in 2007 to $35,000-$40,000/carat in 2019 and higher.At Phoenix Asset Consortium Ltd., we source only the best available AGL Certified Natural Untreated Columbian Emeralds.

Emerald has been associated with royalty since antiquity. The first known Emerald mines were in Egypt and date to 330 B.C. Egyptian queen Cleopatra was known to have a particular passion for the stone, adorning both herself and her palace with the glistening green gems. At the time, Emeralds were the most valuable gemstone known throughout the Roman and Ptolemaic world, making Cleopatra’s obsession an early lesson in royals using luxury to exhibit power!

To this day, emeralds remain a symbol of power. According to legend, it was one of four stones divinely gifted to King Solomon, which gave him absolute power over all creation. Aristotle wrote that the emerald would protect its wearer against illness – particularly epilepsy and poor eyesight. The ancient Roman emperor Nero is said to have watched the infamous gladiator games through an early pair of eyeglasses fashioned from flat emerald crystals.

18.04 Columbian Emerald sold for world record $305,000 per carat

An ocean away, the Incas and Aztecs prized Emerald. Many of the Columbian emerald mines had been active in some form or another for over 500 years prior to the arrival of the Spanish Conquistadors in the 16th century. Especially prized, but now exceedingly rare, are Untreated Emeralds with a strong grass green hue that come from the Muzo & Chivor mines. Zambia and Brazil also have important mines, but serious Investors consider Columbian Emeralds to be the “mark”.

In late 2018, an especially fine colored 18.04 carat Columbian Emerald ring, once owned by the Rockefellers and designed by Van Cleef and Arpels sold for a world record price of $305,000 per carat! The emerald was sourced from the Hoco mine in the Muzo region – one of the most desirable areas for Columbian emerald mining. Supply for top quality Columbian emeralds is extremely limited and almost non existent when it comes to non oiled untreated stones.

Other notable prices for Columbian emeralds includes a 6.33 carat untreated stone that sold at Sotheby’s, New York for $172,986 per carat; a 3.37 carat untreated Columbian emerald set in a ring with diamonds at Sotheby’s, New York for $74,184 per carat.

American Gemological Laboratories


Certification is a must for Natural Gemstones. Just as GIA is the foremost authority on Colored Diamonds, AGL is the most prestigious laboratory for Natural untreated rubies, emeralds and sapphires. Whether these stones change hands privately, through a dealer or at auction, they almost always have an AGL Certificate of Authenticity with the Natural ruby, emerald or sapphire.

The staple of the AGL services is known as the Prestige report. This is a full-page laminated report. The Prestige report is separated into specific parts to make the information presented clearer, with additional comments for each area to provide further information.

The first level of reporting is an identification and Enhancement report. Enhancement detection and disclosure is just as essential to every item submitted to the AGL, as its proper identification. Due to the current situation in the marketplace, where certain gem varieties are routinely treated or enhanced and others are not, as well as the compound nature of many treatment methods today, the AGL breaks up the subject of enhancement into two categories: Standard Enhancement and Additional Enhancement. This allows for the most concise description for the enhanced or unenhanced condition of the gemstone to be presented.

Within this section, the extent of certain treatments, such as clarity enhancement, will be provided using word descriptions, such as insignificant, faint, moderate, etc. In addition, for filling materials used in such gems as emerald, ruby and other gem varieties, the filling material will be identified.
A Stability Index is also provided for information as to the general stability of the treatment under conditions of normal wear.

The second level is the Prestige Origin report. This reporting service provides a determination of the gemstone’s country-of-origin or provenance, in addition to the full Identification and Enhancement of the item. Country-of-Origin services are commonly provided for ruby, sapphire, emerald, alexandrite, and a selection of other gem varieties. This service is not available for all gem varieties.


Gemstone Dealer Pricing Guide

May/June 2020

GemstoneCaratClarityPrice Variance Per Carat
Untreated Burma Ruby0.50 - 0.99Extra Fine$13,200 - $16,500
1.00 - 1.99Extra Fine$24,900 - $36,300
2.00 - 2.99Extra Fine$47,500 - $59,500
3.00 - 3.99Extra Fine$71,000 - $93,000
4.00 - 4.99Extra Fine$97,000 - $115,000
5.00 - 6.99Extra Fine$97,000 - $130,000
7.00 - 7.99Extra Fine$99,000 - $165,000
Untreated Columbian EmeraldDue to scarcity and almost non-existant nature of Unenhanced Extra Fine Columbian Emerald, prices are always quoted as one of a kind stone.
Untreated Kashmir SapphireDue to scarcity and almost non-existant nature of Unenhanced, Extra Fine Kashmir Sapphires, prices are always quoted as one of a kind stone.

Source: The Gem Guide