5 Most Expensive Gemstones in the World

4. Ruby

Average Price Range: $1-1.18 million per carat

Ruby’s impressive hardness, rated at nine on the Mohs scale, makes it ideal for various jewelry pieces, offering durability and resilience. Rubies are essentially red-colored corundum, a mineral that also forms sapphires. The distinction in color arises from specific impurities within the mineral. In the market, natural rubies are prized far above their synthetic counterparts, which are often used as affordable alternatives. Among rubies, those possessing the unique ‘pigeon’s blood’ shade, predominantly found in Mogok, Myanmar, are highly esteemed. Primary sources for natural rubies include countries such as Thailand, Myanmar, Madagascar, Sri Lanka, and Vietnam.