LONDON: The dazzling gem, one of the world’s largest rough rubies, will be showcased in Dubai.
It will mark the launch of a new collection from Swiss jewelers SJ Gold and Diamond.
Mined from the central Tanzanian village of Winza, The dazzling gem will make its first public appearance in the market at the Waldorf Astoria in Dubai Financial Center (DIFC) on Friday.
SJ Gold and Diamond said in a statement said it was displaying the record-breaking ruby, called the “Burj Al-Hamal” (or “Aries” in English), and that it would be auctioned in the UAE after Ramadan.
The rare gem, a central piece to the firm’s Callisto Collection, is estimated to be worth at least $120 million, according to experts.
Arab News reported that the 8,400 carat, 2.8-kilogram rare gemstone will be unveiled by British actor Tamer Hassan.
“The launch of the Callisto collection in Dubai represents a groundbreaking moment for the company in its journey to becoming one of the world’s leading metal and mineral asset management firm, managing a total of $4 billion in assets, ranging from exclusive gemstones and gold,” said SJ Gold and Diamond managing director Patrick Pilati.
“This is the first time we are introducing our crown jewel of the collection. Unveiling this one-of-a-kind stone to the public for bidding is a clear continuation of our dedication to showcasing the best of the best in the UAE,” he added.
The Callisto Collection also includes hand-picked white and yellow cut and uncut diamonds along with 12 unique rubies