Ruby GRS-Certified Pigeon's Blood designation remains the most value-accretive quality indicator in the market, and supply of certified fine-quality goods remains difficult. Mozambique remains the world's largest producer of ruby, though most of its production is very deep in colour — only a small proportion displays the vivid red or Pigeon's Blood colour the market demands. Fine Burmese rubies remain exceptionally scarce: quality natural stones above 4–5cts now regularly command prices in the millions, while truly exceptional larger stones are very rarely seen. Sapphire Ceylon material in the 3–6ct range remains steady in UK wholesale demand, with unheated Royal Blue and Cornflower carrying a four to five times premium over heated equivalents. Heated Sri Lankan sapphires have eased slightly in price during 2026. However, fine unheated stones remain in extremely short supply, with well-cut sapphires showing even colour and good clarity continuing to attract strong demand and premium prices.