The world's largest gem-quality ruby, unveiled in Dubai last year, is expected to sell for more than $30 million at a New York auction in June.
Estrela de Fura, or the “Star of Fura” in Portuguese, was unearthed by Dubai-based Fura Gems in Mozambique and originally weighed 101 carats.
It has since been cut and polished into a cushion cut of 55.22 carats that reveals its vivid red colour, known as “pigeon's blood”.
“The rare gemstone is the largest and most valuable ruby to ever appear at auction,” Sotheby's said in a press release.
The broker said it was “the largest gem-quality ruby to ever appear at auction”.
The gem “was considered by experts as an exceptional treasure of nature for its fluorescence, outstanding clarity and vivid red hue, even in its natural, uncut state”.
Estrela de Fura is expected to break auction records when it appears at Sotheby's New York's “Magnificent Jewels” sale in June.
“When Fura Gems announced its historic uncovering of the world’s largest gem-quality ruby … the news dominated headlines the world over, prompting tremendous excitement and taking the gemstone market by storm,” Sotheby's said.
The auction is headlined by the Eternal Pink Diamond, which weighs at 10.57 carats and is expected to fetch $35 million.
The Sunrise Ruby holds the current record as the most valuable ruby at $30.3 million.
Estrela de Fura and the Eternal Pink Diamond will be available to see in-person in Dubai, among other cities around the world, before the June 8 auction in New York.
It will also be viewable in Taipei, Singapore and Geneva as part of the tour.
Estrela de Fura was the largest gem-quality ruby discovered when it was unearthed by Fura Gems in Mozambique in July 2022.
Fura Gems is headquartered in Dubai and operates mining sites in Mozambique, Australia and Colombia.
The company said it will use a portion of the sale proceeds to build a Fura Training Academy in Mozambique, for education and technical training for the local population. It would focus on skillsbuilding for agriculture, carpentry, engineering, and mining work.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
SPECS
Brief scores:
Juventus 3
Dybala 6', Bonucci 17', Ronaldo 63'
Frosinone 0
FIXTURES
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
The%20specs
Squads
Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
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War on waste
SPECS
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Torno Subito by Massimo Bottura
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'C'mon C'mon'
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
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The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
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The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
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Date started: 2012
Founder: Amir Barsoum
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Sector: HealthTech / MedTech
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