The ruby sold for a record US$30.42 million on 12 May 2015 at a Sotheby's auction in Geneva, Switzerland, to Heidi Horten. It was originally estimated to be worth between US$12 and 18 million prior to auction and bidding started at 11 million Swiss francs or US$11.8 million. Also known as lot 502 of the evening, bidding lasted approximately seven minutes with buyers via phone as the main source of bidding. The Sunrise Ruby greatly surpassed the previous record holder, the Graff ruby ring, which sold for US$8.6 million in November 2014. Its record-setting price has been attributed to the rapid increase in prices for coloured gemstones and public auctions, with figures often "rivaling the performance of the much-sought-after colored diamonds".
