Overview of the International RubyJewelry Auction Market and Analysis of Its Price Influencing Factor

Abstract

Ruby always occupies an important position among coloured gemstones with its bright colour and precious value. Ruby jewelry auctions can be used as an effective means to appreciate investment and avoid market risks. Studying international ruby jewelry auctions can help gem practitioners gain a deeper understanding of the global ruby jewelry auction market, more accurately predict future market trends, and provide investors and collectors ruby jewelry auction information and purchase references. In this paper, the authors collected and sorted the ruby jewelry auction records of 7 auction houses from 2008 to 2019, conducted research on the international ruby jewelry auction market and analyzed the factors that affect ruby jewelry auction prices. The research found that the volume of international ruby jewelry auction market has been increasing continuously in 2008-2015, and has fallen back since then. Sotheby's and Christie's are the most important ruby jewelry auction houses, and China and Switzerland are the most important ruby jewelry auction markets. The price of ruby is affected by multiple factors such as colour, origin, weight, clarity (optimization) treatment, special optical effects, and shapes, which have a significant impact on the price of ruby.