Rubies have been a prized possession for centuries and their value has always been high due to their rarity and natural beauty. However, in recent years the price of rubies has gone up significantly, making them even more exclusive than before. There are several reasons behind this price spike:
1. Scarcity: Natural and high-quality rubies are extremely rare and difficult to mine, especially the unheated ones. Only a handful of mines in the world produce rubies of this quality. In addition, mining is labor-intensive and can be dangerous, making it hard to increase production to meet demand.
2. Demand: The demand for rubies has been rising steadily over the years, particularly from emerging markets like China and India. The growing middle class in these countries has more disposable income and is willing to invest in luxury goods like rubies. This has created more competition for the limited supply, driving up the prices.
3. Treatments: Most rubies on the market are treated to enhance their color and clarity, making them more marketable and valuable. However, unscrupulous dealers may use unethical methods, such as lead glass filling, to make lower quality stones appear more valuable. It is becoming increasingly difficult to find high-quality untreated rubies, which further drives up the price of these rare gems.
4. Investment: Besides their natural beauty, rubies are increasingly being seen as an investment opportunity. With the stock market fluctuating and real estate investments becoming less reliable, people are looking for alternative ways to invest their money. Rubies, along with other colored gemstones, are seen as a secure and profitable investment, which only increases their demand and value.
In conclusion, rubies are expensive now due to their scarcity, increasing demand, the difficulty of getting high-quality untreated stones and their value as an investment. While this may make them seem out of reach for the average person, the beauty and rarity of rubies make them a worthwhile investment for those who can afford it.