Page 13 - Fake Ruby CS

He estimated its value could be as much as £2m and he planned to finally find
out when the gemstone is ceremoniously “cracked open like an Easter egg” at a

special dinner for his board members.

However, after receiving pleas from enthusiasts in the United States not to

break up the gem Mr. Watts decided to keep the stone intact and add it to his
portfolio of artworks etc. saying that

“It has been suggested to me that was I to auction it there then I should put a
reserve on it of $250,000, but it could go for anything.”

But the plot thickened after an earlier valuation - by London jeweller David

Davis – emerged claiming the jewel might have a market value of $22-23?
million. It was suggested the valuation took into account the possibility of
cutting up the uncut gem into a number of high-quality stones.