A 10.33-carat Burmese ruby sold for an impressive $5.5 million after a six-minute bidding war among two bidders on the phone and one in the New York saleroom at Sotheby’s Magnificent Jewels auction.

Every engagement ring is beautiful and special not because of its design, style, or cost, but for what it represents: true love and a lifetime of commitment. The choice of the ring, from the stone and ...