Buying and Selling Burmese Rubies at Auction: What You Should Know

Burmese rubies are a popular choice because of their impressive beauty. Like all gems, though, they often make a better asset to liquidate than an investment to hold onto. While the majority of investors choose low- to mid-range gems, some investors and collectors find good returns in high-end gems, rare stones, and unusual pieces. The Burmese ruby makes the rare list, with Old Burma rubies being extremely rare and therefore exceptionally valuable.

This gemstone is appreciated for its deep, blood-red color and its astrological value, as well as its superior clarity in terms of gemstones. Depending on the cut and clarity, as well as the size, these gems can easily sell for thousands of dollars. They are a rare gemstone, however, so those who are interested in buying or selling them may need to consider their options carefully. After all, it’s not a gem that can just be priced and sold. It needs to be evaluated by professionals for quality to determine what it is truly worth.

Auctions Garner the Most Interest and Profit
In terms of the best place to buy and sell gems like the Burmese ruby, auctions offer a lot of perks for both buyers and sellers. These gems are not as old as the rubies from East Africa, but also there aren’t a lot of quality gems coming out of Burma/Myanmar, and experts have reported that the best mines have been exhausted across the country. Thus, it’s not unusual to see these rubies selling for increasingly higher prices and becoming even rarer as time goes on.

Selling or buying at auction is effective with gemstones for several reasons. For starters, people who collect or invest in rare items are going to be more easily found in an auction crowd. Therefore, sellers and buyers alike will be more likely to find the precious gems that they want, or the people interested in buying them, than they would elsewhere. Not only this, but it offers a better value for sellers and a chance for buyers to find rarer items that they might not see every day. Of course, the process is different for buyers and sellers, even though many of the perks are the same.

For Buyers
Those who are looking to obtain Burmese rubies at auction will need to find them available, first and foremost. Fortunately, working with a local private auction house gives people a connection to those who truly understand the market and how to get the best deal. Auction houses specialize in rare gems and can help people find the items that they like, even if they aren’t up for listing in an upcoming auction.

Another great perk of buying at auction, especially in light of the current pandemic situation, is that people can engage in auctions without attending. Instead of physically going to the auction, people can inspect the items available beforehand just like they normally would, but virtually, and then will be able to bid via phone, online bidding, or even an absentee bid.

Bear in mind that when something is purchased at auction, it will typically include a buyer’s premium, along with a small fee to help ensure that the auction house’s services are covered for their involvement in the transaction. These fees are typically small, mentioned from the start, and not uncommon or anything to worry about. It’s just important to be aware.

Those Looking to Sell
Again, auctions do have a reputation for generating better profits and getting the attention of more interested parties. After all, when it comes to a specialty market like gemstones, part of the value comes from how many people are interested in the available item. In an auction setting, it will be a lot easier to find parties that understand the value of precious gemstones and are willing to invest.
To sell gemstones at auction, people will want to take the time to work with a dedicated auction house and learn all about the different available options. Auction houses will be able to cultivate the best collections for those who are shopping, which means sellers will have an easier time getting the best value for rare items like Burmese rubies. It will also allow people to trust that their precious gems are getting the best value and going to someone who will appreciate them.

An auction house can help sellers get the right value for their gems. It is often discovered upon further investigation that some sellers think their rubies are worth a certain amount, only to find out once they have them professionally appraised that they can garner much more (or less) at auction. This appraisal alone is enough of a reason to consider working with a private auction house. With something as rare as the Burmese ruby, people need to ensure they are getting an accurate value.

There may be seller’s fees involved in the transaction, such as an insurance fee or a commission charge. These should be discussed upfront, and shouldn’t be too high.

Gems Are Great for Investing and More
Auction houses offer a place to buy and sell gems for several purposes. Gems make a great choice for collecting, even just in the form of various jewelry auction pieces. The loose stones or expensive pieces can even be put on display to show off their true beauty. Plus, as mentioned above, gems make a great asset for those who want something that can quickly become liquid. No matter how long gemstones are held or what the market is like, they will always sell at auction, and for a better price than most alternatives.

Jewelers, private companies, and others might not have the best selection or quality when it comes to something as rare and exclusive as the Burmese rubies that are available around the world. By working with a private auction house, buyers and sellers alike can ensure that they are getting fair prices for their gems and working with people who understand their true value and appreciate them just as much.