A 55.22-carat ruby has been the largest and most valuable gem to sell at auction, netting $34.8 million.
In June, more than a year after Canadian firm Fura Gems discovered the stone at one of the company's mines in Mozambique.
Sotheby s said the jewel was extremely rare and the most valuable and important ruby ever to come to market. It was named the Star of Fura in Mozambique's official language, Portuguese, or Estrela de Fura.
Although record gemstone sales are dominated by diamonds, rubies are also among the world's rarest and most valuable gems. The previous auction record for a ruby was set by the Sunrise Ruby, a 25.59 carat stone found in Myanmar that fetched $30.3 million in 2015 in Geneva, Switzerland.
Estrela de Fura, which was cut from a rough stone in July, made the headlines when it was unearthed by miners. It was the largest gem-quality ruby ever discovered, weighing 101 carats and more than twice as much as its current form.
The stone has been cut into a smaller symmetrical shape and polished, processes that remove impurities and enhance the color and brilliance of a gemstone before it is put on the market. A study by Sotheby s said that this had resulted in vivid red hues due to multiple internal reflections. Dev Shetty, Fura Gems founder and CEO, said stones of such size and quality are almost unheard of. From the in-depth analysis and study of the stone - through the process of cutting and polishing - we have worked with the utmost care and respect for the ruby, acknowledging its importance and stature.
Although rubies were first discovered in Mozambique many decades ago, a significant industry emerged there after 2009, when a huge deposit of stones was found near the northern city of Montepuez. One of the most productive ruby mining nations in the world is Mozambique.
The site of Estrela de Fura was unearthed from the region. Sotheby described it as possessing exceptional clarity and a dark red color called pigeon s blood - a hue more commonly associated with highly sought-after Burmese rubies.
The ruby was included in Sotheby's Magnificent Jewels sale, which was headlined by a 10.57-carat pink diamond, The Eternal Pink, which fetched the same amount as Estrela de Fura. The auction house described the diamond as having unparalleled luster and color. They were exhibited in many cities, including Geneva, Singapore and Dubai, before they were sold in New York.