Speaking of imposters, in 1851, the East India Company gifted a 361-carat gemstone, etched with the names of six Mughal emperors, to Queen Victoria. Named the Khiraj-i-alam (Tribute to the World) or the Timur Ruby, the stone was set in a necklace, now part of the Crown Jewels. It was only later that it was discovered that this was no ruby; it was a spinel, the royal ruby’s lesser cousin. Similarly, the Black Prince Ruby, placed just above the Koh-i-noor in the British crown – also a spinel. Making a case for this “under-appreciated” gemstone, SaffronArt’s online auction of fine jewels has a seven-row pink spinel necklace, estimated
at over Rs 5 lakhs.