A ruby is a pink to blood-red colored gemstone. The red color is caused mainly by the presence of chromium. Its name comes from ruber, Latin for red. Other varieties of gem-quality corundum are called sapphires. Ruby is considered one of the four precious stones, together with sapphire, emerald and diamond. Prices of rubies are primarily determined by color. The brightest and most valuable “red” called blood-red or “pigeon blood”, commands a large premium over other rubies of similar quality. The world’s most expensive ruby is the Sunrise Ruby.