Are rubies more expensive than diamonds?

Rubies are a relatively rare gemstone. Burmese rubies command the highest price. Stones that are recut or even exported before cutting are worth more per carat than native-cut rubies. According to the International Gem Society, clean, top-color gems command a retail price of $1,000 to $3,000 per carat. read more

Ruby is the red variety of corundum. It is quite a bit rarer than the blue gems. The rarity combined with the demand for rich red gems keeps the price very high. Among rubies though, there is no shortage of small gems, the kind used in cluster rings. They are somewhat expensive, but readily available. read more