In these hard economic times it can help companies receive the life giving, but increasingly scarce,  finance they require if they can put up assets for collateral.  When troubled Shropshire construction company Wrekin Construction went to the wall it turned out that it had one very unusual item – The so-called Star of Tanzania.

priceless

The colossal ruby was valued at a colossal 11m GBP, approximately  $17m. The most a ruby has ever been sold for is 2.5m GBP – truly this must have been one of the world’s finest gemstones. Unsurprisingly the possession of this great treasure was considered by the banks to weigh heavily in the company’s favour when it came to loan decisions. Wrekin Construction was able to run up debts of 20.7m GBP.

uncut
The gem was a 4.4lb monster uncut Ruby originating from the famed Ruby mines in the jungles of darkest Tanzania. How the construction acquired the gemstone was shrouded in mystery and intrigue. Perhaps company director David Unwin had connections to African royalty? What other treasures the building firm may have been hoarding was not known.
Whatever skills and good fortune that led to the acquisition of the gleaming geological curiosity did not extend to the running of the Wrekin Construction. Unfortunately for its 450 or so staff and the people the firm owed money to, the business went bust. Accountancy firm Earnst and Young was called in to liquidate the company’s assets. It was time to turn the stone into cold hard cash.

valuation

When it became time to put a value on the stone so that it could be sold a problem emerged. Far from being the world’s most valuable Ruby it turned out to be nothing of the case. An advert was placed in the November 27 issue of RocknGem Magazine. Some experts believed it might fetch as little as 100 GBP.
Often the key to satisfaction is low expectations. Maybe next to the three figure sum the eventual selling price of 8000 GBP did not seem so bad. This all leads to the question as to how exactly a person can tell the value of a pretty red rock. How can we, as consumers, avoid being burned and make sure we are not being ripped off by any untrustworthy warlords in sub-Saharan Africa we might happen to do business with?

features

When assessing a ruby there are several things you should look out for. Firstly it is essential to know exactly what a ruby is, and conversely is not. In mineralogical terms a ruby is a red variety of elusive mineral corundum. While totally pure corundum is clear in complexion it is traces of elements like vanadium, iron, chrome or even titanium that are responsible for the colour of coloured corundum. The ruby’s trademark hue itself is down to aluminium oxide and chrome. Only truly red corundum can be classed as ruby. Corundum stones which fail to meet the most exacting standards of being red are classed as sapphires.

Though they have both been coveted since ancient times the fact of the intimate association between the Ruby and the Sapphire is a relatively recent discovery. It was only at the start of the 19th century when the truth about rubies was discovered. Until then the inferior knowledge of things geological that was endemic had allowed red Garnets, A.K.A. Spinets, to be passed off as rubies. Even the Monarchy was taken in by this deception, with several of the famous British Crown Jewels being examples of the deceptive mineral.

rubies

Mohs scale

A ruby should be very hard. On the Mohs scale they must have a score of 9. Anything less than that, and it is just not hard enough to be a ruby. To put that into context, only diamond is harder. It is this legendary firmness that led to the stone being known as the ‘king of gemstones’ or ‘ratnaraj’ by the Sanskrit speaking nobility of pre-colonial India.
The hardness of a ruby originates from the extraordinary geological pressure that is required to create it. It is this pressure that means that it is very rare for large examples of the stone to be excavated without them containing flaws.  In fact it is very unusual to find rubies that are any larger than 3 carats in size. It is this that makes inclusion free rubies of over 3 carats so fantastically valuable, more so than even similar diamonds.

sheen

A ruby can have a silky shine. This is caused by super-fine needles of rutile, and sometimes the phenomenon results in the creation of a so called asterism. This is where a star shaped deposit is formed in the heart of the stone. If you find one of these then you may have found one of the Earth’s most precious treasures.
When appraising a star ruby you should assess it for transparency and colour. In addition to this the overall beauty of the gem is an important factor in determining its worth. The very finest star rubies have certain other features that should always be present. There should be a symmetrical pattern of rays, leading to an imaginary central line running horizontally through the centre of the stone. The ‘star’ itself should be right at the heart of the stone, in the exact centre.

So now you know what to look out for in the way rubies. Knowledge is power, and now you have the power to avoid being taken for a ride by rogue jewellers.  Equally should you find ever happen to find yourself raiding the tomb of a forgotten king, and can only carry so much with you as you escape from the wrath of its mummified guardians or whatever, now you will have a better idea what to take and what to leave behind.  As well as in Africa, ruby deposits have been found in Afghanistan, Laos, Nepal and Thailand amongst other places. Happy hunting, and the very best of British luck to you.