Rubies are generally more expensive than diamonds due to their rarity, especially when considering high-quality, untreated rubies with vivid red colors such as the "pigeon blood" variety. However, this is not a strict rule since most diamonds are widely available and graded on a standardized system, while rubies can vary greatly in price depending on their color intensity, origin, and treatment. Exceptionally rare colored diamonds like fancy-colored diamonds can be more expensive per carat than rubies.
Price Comparison Factors
- Rubies are rarer than diamonds, especially in larger sizes and with top quality.
- Diamonds are graded by a standardized system (the 4Cs: cut, color, clarity, carat), making their pricing more consistent.
- Rubies are valued for their deep red colors and rarity, often intensified by limited sources and treatments; untreated rubies can dramatically increase in price.
- Some famous rubies have sold for higher per carat prices than comparable diamonds.
- Fancy colored diamonds (e.g., green, pink) can be more expensive due to extreme rarity.
Summary
- Standard white diamonds tend to be less expensive than high-quality rubies.
- Rare and exceptional rubies often outprice common diamonds.
- Fancy colored diamonds tend to be the most expensive gemstones of all.
This nuanced pricing shows rubies can be more expensive than diamonds in many cases due to their rarity and quality, but the opposite can be true with fancy colored diamonds or less rare ruby specimens.