A 55.22-carat gemstone mined in Mozambique has become the largest ruby ever sold, fetching a record $34.8 million at an auction in New York, according to the Sotheby's Auction House.
A Sotheby spokeswoman revealed to media that the buyer was a "private collector from the Middle East."
The gem, which the auction house described as a "once-in-a-lifetime" jewel, was distinguished for its vivid red hue, fluorescence and "outstanding clarity."
Quig Bruning, the head of the jewelry department for the Americas at Sotheby’s, explained to media that the uniqueness of this gem is also defined by its size.
"It’s a true wonder of nature. Any ruby that comes out of the ground and ends up exceeding five carats as a polished ruby is something of a rarity. A 10-carat ruby is very rare. Twenty carats is almost unheard of. A ruby of more than 50 carats is once in a lifetime," Bruning said.
The unique ruby received its name "Estrela de Fura" which means "Fura Star" in Portuguese, in honor of the company that discovered it, Dubai-based Fura Gems.
According to the mining company's website, it commenced operations in the Southern African country in 2017 and now holds nine ruby-mining licenses in the main ruby-producing belt covering 58,000 hectares of land.
Part of the proceeds from the auction will be used to create a training academy to help communities in Cabo Delgado access education and technical training for livelihoods in mining, carpentry, engineering and agriculture, the company said last year.
At the Sotheby's New York auction, "The Eternal Pink," a 10.57-carat pink diamond from a mine in Botswana, was also sold for the same price of $34.8 million, setting a new record for a per carat price.