Ruby Market Outlook: What to Expect in 2026

The ruby market enters 2026 with significant momentum. After years of price appreciation, the colored gemstone sector—particularly high-quality rubies—continues to outperform many traditional investments. Here's what collectors and investors should know.

Supply Constraints Continue

Burmese rubies remain the gold standard, but political instability continues to limit legitimate supply. This has created sustained upward pressure on prices for verified Burmese stones with proper documentation.

Mozambique's Rising Profile

African ruby deposits, particularly from Mozambique, have matured significantly. While historically viewed as secondary sources, top-tier Mozambican rubies now command serious prices at auction. The best examples rival Burmese material in color saturation.

Price Trends

• Top-tier (3+ ct, pigeon blood): Up 15% year-over-year
• Mid-range (1-3 ct, good color): Up 8% year-over-year
• Commercial grade: Stable to slightly down

Investment Considerations

For investors, the ruby market offers several advantages: physical portability, no yield requirement, and historical correlation with wealth preservation during economic uncertainty. However, liquidity remains challenging compared to financial assets.

Quality over size remains the mantra. A 2-carat exceptional ruby will likely appreciate faster than a 5-carat stone of lesser quality.

What to Watch

1. Auction results at major houses (Sotheby's, Christie's)
2. Lab-grown ruby technology developments
3. Changes in Myanmar's political situation
4. New deposit discoveries in East Africa

The outlook for quality rubies remains positive, but buyers should prioritize proper certification and documented provenance. In a market where trust is paramount, transparency adds significant value.