Ruby Price in Pakistan: How Yaqoot Is Priced per Carat and per Ratti

Ruby (yaqoot, also called manik) is one of the hardest stones to price by eye. Two red stones of the same weight can sit in completely different price bands because of things a phone photo rarely shows: how the red holds up indoors, what is inside the stone and, above all, what has been done to it. This guide explains how ruby is priced in Pakistan, how the bazaar's per-ratti quotes relate to the carat weights on a certificate, and how to compare one seller's offer with another's without being misled.

We do not quote figures in the text. The table below is built from GemStore's own ruby listings and is refreshed monthly, so it reflects real stones rather than a guess. Read the sections around it to understand why the lowest and highest prices are so far apart.

Ruby prices from our own listings

The table shows the lowest, typical and highest price per stone in our ruby category, along with the equivalent per carat and per ratti. Each figure comes from a real stone with its own photo and weight.

Ruby · October 2026 edition · PKR, from GemStore listings. 1 ratti = 0.91 carat.

Origin	Weights	Stones	Per carat	Per ratti
Madagascar	2.3 – 7.2 ct	15	Rs 1,650 – Rs 11,000	Rs 1,500 – Rs 10,000
Kashmir	6.0 – 15.9 ct	11	Rs 1,400 – Rs 2,400	Rs 1,250 – Rs 2,200
Mozambique	1.6 – 8.5 ct	7	Rs 11,000 – Rs 56,000	Rs 10,000 – Rs 51,000
Africa	1.9 – 3.2 ct	4	Rs 3,000 – Rs 4,900	Rs 2,700 – Rs 4,500
Other / origin not stated	0.7 – 8.1 ct	23	Rs 850 – Rs 22,500	Rs 750 – Rs 20,500

Treat the typical figure as the middle of the market for natural, honestly described stones. The low end is mostly small or included stones; the high end is larger stones with stronger colour and better clarity. For a wider view across all stones, see the monthly gemstone price guide.

Per carat and per ratti: how the maths works

Labs and international dealers weigh ruby in carats. One carat is 0.2 grams. Most Pakistani buyers, and many astrologers, ask for the weight in ratti instead. The standard gemstone ratti used in Pakistan is 0.91 carat, so a ruby of 4.55 carats is exactly 5 ratti, and a 2.73 carat stone is 3 ratti.

The jeweller's sunari ratti is smaller, about 0.1215 grams or roughly 0.61 carat. A ruby described as "6 ratti" in sunari terms weighs about 3.66 carats, which is only about 4 standard ratti. If two quotes give the weight in ratti, always ask which ratti they mean. Our carat to ratti converter does the sum both ways.

To compare a per-ratti quote with a per-carat one, multiply the per-carat rate by 0.91 to get the per-ratti rate (standard ratti). Going the other way, divide the per-ratti rate by 0.91. Then multiply by the weight of the actual stone. Do this before you compare any two offers; it removes most of the confusion in bazaar pricing.

Why the rate per carat rises with size

Ruby is not priced on a flat rate. Clean, well-coloured rough becomes much rarer as size goes up, so the per-carat rate itself climbs. A 3 carat ruby of a given quality usually costs more per carat than a 1 carat ruby of the same quality, and a 5 carat stone more again. This is why astrology buyers who are told to wear a specific minimum weight often find the bill rises faster than the weight.

What sets the price of a ruby

Treatment comes first

The single largest price question for ruby is treatment, so ask about it before colour or size.

• Unheated: natural colour and clarity with no heating. Good unheated ruby carries a clear premium and needs a lab report to prove the claim.
• Heated: the standard, accepted treatment. Heating improves colour and dissolves some silk. It is stable and permanent.
• Heated with flux healing: fractures are partly healed during heating with a flux. Labs note it, and it sits below simple heating in value.
• Glass-filled (lead glass): low-grade, heavily fractured corundum filled with glass so it looks clean. These stones belong in a much lower price band, can be damaged by jeweller's heat and even lemon juice, and should never be priced like a heated ruby.

A seller who will not state the treatment in writing is not giving you enough information to judge the price. Our guide to reading a ruby's colour, glow and treatment shows what glass filling looks like under a loupe.

Colour

A strong, pure red with only a slight purple touch is the most valued. Rubies that lean pink, orange or brown cost less, as do stones that are so dark they turn blackish away from strong light. When you compare listings, look at the colour in the indoor photo as well as the daylight one; a ruby that stays red in tube light is worth more than one that only looks good outdoors.

Clarity and transparency

Almost every natural ruby has inclusions. Light silk is normal. What lowers the price is cloudiness that kills the brightness, open fractures that reach the surface, and dark crystals sitting in the centre of the face. Translucent and opaque rubies, often cut as cabochons, are priced far below transparent faceted stones of the same weight.

Cut and proportions

Ruby rough is expensive, so cutters often keep weight by leaving a deep belly or a lumpy outline. A deep stone weighs more than it looks, so you pay for carats that add nothing to the face. A shallow stone shows a dull "window" in the middle. Compare the face-up size in millimetres as well as the weight.

Origin

Burma (Myanmar) is the historic benchmark. Mozambique and Madagascar supply much of the fine ruby seen in the market, and many of our stones are from Madagascar. Thailand and Cambodia tend to give darker, more garnet-red stones. Pakistan has its own marble-hosted ruby from Hunza, known for a pinkish-red glow, mostly sold as cabochons and specimens; read more on the Hunza ruby origin page. Origin affects price only when a lab report supports it. A verbal "Burmese" claim on its own is worth nothing.

How per-ratti pricing works in Pakistani bazaars

In Lahore's Anarkali, Rawalpindi's Raja Bazaar and Peshawar's Namak Mandi, ruby is often quoted at a rate per ratti rather than a price for the stone. The rate is supposed to reflect quality, and the seller multiplies it by the weight. There are three common traps.

1. The ratti is not stated. A per-ratti rate using the small sunari ratti looks cheaper than it is, because each "ratti" contains less stone.
2. The weight includes the setting. If the stone is already in a ring, the weight given may be for the whole piece. Only the loose stone weight counts.
3. The rate is for a different quality. A shop may show a fine stone to set the rate, then weigh and sell a lesser one. Make sure the rate and the weight belong to the same stone.

Per-ratti pricing is fine when all three are clear. It simply needs to end in a single price for one named stone, with the weight written down.

How to compare two ruby quotes

When you have two offers, put them side by side using the same checklist.

1. Convert both to price per carat, using the standard ratti of 0.91 carat unless the seller says otherwise.
2. Check the treatment line. Never compare a heated ruby with a glass-filled one, or an unheated claim with no report against a reported one.
3. Compare the weights. A larger stone should cost more per carat, not less. If it does not, ask why.
4. Look at the colour in similar light. Ask for a video under ordinary room light.
5. Check the face-up size in millimetres. Two 3 carat stones can look very different in size.
6. Ask what happens if a lab result disagrees with the description. A seller who stands behind the stone will offer a return.

If one offer is far below the others for the same stated quality, the gap is usually explained by treatment, a different ratti, or a synthetic. Our post on identifying an original ruby covers the quick checks.

Budget tiers by filter

Rather than guess which band your ruby will fall into, use the price filters on the shop and look at the stones that sit in each one. Comparing photos across bands is the quickest way to see what extra money buys.

• under 5,000 rupees: useful for seeing what small or lower-grade stones look like across all categories.
• 5,000 to 20,000 rupees
• 20,000 to 50,000 rupees
• over 50,000 rupees

Then open our ruby category and sort by weight. Stones such as this 2.55 carat Madagascar ruby and this 3.40 carat ruby are each photographed alone, so you can compare colour and size directly against the price shown.

Setting costs are separate

A loose ruby price does not include the ring. Silver and gold settings are charged separately, and gold adds a significant amount at current metal rates. When comparing a set ruby ring with a loose stone, ask for the stone and the setting to be priced separately. Our planned guide to yaqoot ring prices covers this in more detail.

Buying a ruby from GemStore

Every ruby on GemStore is a natural stone, sold one at a time with its own photo and its own price, and any known treatment is stated. A certificate is available on request, and independent lab testing can be arranged if you want an outside opinion before you wear it. You can pay by Cash on Delivery anywhere in Pakistan and open the parcel to inspect the stone before paying the rider. Orders leave within 1 to 2 working days by insured, tracked courier and usually arrive in about 7 working days, and you have 7 days to return a stone if it is not right. If you are wearing ruby for astrological reasons, our posts on ruby's traditional benefits and how to wear ruby explain the customs.

Shop the stones: ruby.