A diamond ring featuring a 10-carat "pigeon blood red" ruby will be auctioned at a Hong Kong sale on Nov 29. [Photo provided to China Daily]

A diamond ring featuring a 10-carat "pigeon blood red" ruby will be auctioned at a Hong Kong sale on Nov 29. The pre-sale estimate amounts to HK$98 million ($12.69 million). Surrounded by a gallery of diamonds, the ruby is of an oval shape and originated from Myanmar.

It exhibits fine purity and a saturated color that is poetically mentioned as "pigeon blood red", due to a combination of well-balanced trace elements. The diamond will appear in Christie's major autumn sale of jewelries in Hong Kong. Other highlights to be hammered are a blue diamond ring with a high estimate of HK$95 million and a ruby and diamond necklace.