Why are rubies so valuable?

Rubies are highly valued due to their rarity, vibrant color, and historical significance. The deep red hue, attributed to chromium, is particularly sought after, with the most prized rubies exhibiting a vivid, even color. Additionally, their durability and the association with love and passion enhance their desirability. The combination of these factors, along with market demand, contributes to their high value in the gemstone market.