Now why would the news of Wrekin Construction, a Shropshire-based business, collapsing with more than £3.5m in outstanding VAT and tax bills have caught my eye? Could it be that the firm apparently owns a ruby called “The Gem of Tanzania” which it is said to have bought from shareholder Tamar Group for a “fair value” of £11m paid in interest-bearing preference shares? The price purportedly paid would make it the most expensive gemstone on the planet; Christie’s are reported to have said the highest recorded price paid for a ruby was $3.6m (£2.6m) in 2006.
Peter Greenwood, Wrekin’s joint managing director, seems to think the ruby is locked away in a safe deposit box, although he says he has never seen it himself. David Unwin Jnr (managing director of Tamar Group, son of David Unwin Snr, ultimate owner of both Wrekin and Tamar) has been asked to shed light on the existence of the ruby and its whereabouts. He is reported to have passed “no comment”.
Note 13 of Wrekin’s 2007 accounts states: “The fair value of the ruby gemstone was determined by a professional valuer at the Instituto Gemmologico Italiano (sic) based in Valenza, Italy, on 31 August 2007.”
Not according to Loridana Prosperi, a gemologist at the head office of the Istituto Gemmologico Italiano in Milan. She said: “That is impossible, because we were on holiday on August 31 2007.” She also said IGI assesses only the quality of gemstones, never the price, adding that the Valenza office does not even do that.
It is understood that Ernst & Young, the administrators of Wrekin, are keen to see for themselves the unusual and very, very valuable asset or at least to establish its whereabouts. I should ruddy well think they are!
The swivel eyed, snaggle toothed, progenitor of an altogether superior brood of Smudletts. An uncommon wit that fails to grace these pages often enough.
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Perhaps it’s all a tricksy. Have they checked the pocketses of the two Davids I wonder?
Very precious, janes ;o)
It has a certain ring to it, I grant you.
Of course the investigators may have ask Harry Potter for a loan of his most valuable possession in order to find the missing jewel.
I have just been googling The Gem of Tanzania hoping to find a reference to it anywhere other than in connection with Wrekin Construction and … BINGO! It’s listed on ebay! Honestly!
Not being used to EBay I spent some time searching before I realised I was on EBaby! But found it at last, just as you said Gloria. I wouldn’t give 99p for it, it’s all covered in mud or shit or something.
I’ve a nagging doubt that it really is the Gem of Tanzania, janes. Perhaps the Seller has just listed it as a joke. What a cruel trick.
I think you are right Gloria, I was planning to get into a bidding war with you but no more. Whoever has the ruby is a gemmy bugger.
Please!!! Scam after scam after scam. We are surrounded by scammers.
What kind of company makes so much profit they can afford to spend millions on gems?
Gordie and Darling must obviously be taxing the wrong people!!!
I vermilion and one reasons I won’t be bidding, not least that I’m already in the red. Nothing would be madder than that.
All I can say is that this sounds like a load of garnets! Utter garnets! ……………
Do take a look at the ‘ebay’ Gem of Tanzania if you have a moment! It’s very funny; the ‘seller’ should come and write a few comments on here, I think!
Have had a look and invited him to have a peep at us.
I don’t know how much of the EBay seller’s guff you read Gloria. Just in case you gave up quite early I thought you would like to see the rest of the info. Read on, you will not be disappointed:
“The Gem of Tanzania”
The most valuable ruby in the history of the world, ever! (allegedly)
Here we have for sale an item of unparalleled rarity. In fact it’s so rare there are a lot of people who think it doesn’t exist!
Ideal collateral for bank lending, helps boost your balance sheet it’s a once in a lifetime offer and far better than any government backed lending plan (unless of course you’re a bank that is).
Signed valuation from Sotheby’s Chrisities Gerald Ratner Sir Fred Goodwin (Although Fred might not want to hand this over as he doesn’t like giving things back)
Prefer collection in person but will post by Royal Mail Special Delivery although the insurance may be a bit steep.
I’m open to “Buy it now” offers.
Terms of Sale:-
Direct transfer to my off shore bank account in the Cayman Islands.
Sorry I won’t take PayPal for this item, the fees would be eyewatering and I really don’t fancy getting a chargeback a month or so later.
Payment in company stock or shares not acceptable (what do you think I am a Scottish banker or something?)
No bidding from Tanzanian’s then claiming it belongs your mother country anyway and you’re not paying for it and it should be returned!
However I will ship to Nigeria, especially if you’re a Doctor and have suddenly stumbled across a bank account of a deceased family member which contains enough cash to sort out the UK nation deficit. Don’t go asking for deposits though..do you think I’m stupid or something?
Happy bidding
Janes ………….. Wasn’t it a fab advert!
An interesting snippet from the Financial Times website (17.0309)
“The stone has appeared on the books of Wrekin Construction, a Shropshire construction company that collapsed last week. Its 2007 accounts reported the stone worth
I have just bid
Watch out for Old Smuddy sniping in with the winning bid 1 second before the sale closes!
You have six days, 6 hrs and 3 mins – good luck!
9 bids already – although the highest bid appears to be only
But I definitely bid
Perhaps without you knowing it you are having your financial affairs looked after for you by a mate running a blind trust?
Administrators Ernst & Young apparently took possession of the gem on 20.03.09 … so that’s why it has disappeared from ebay! When I last checked, it had reached 20 bids and
More credulity-stretching info regarding the fabulous gemstone:
One of the ruby
Apart from Mr Dunn they seem to be a pack of shysters. As investigative journalism is a poor career option at the moment perhaps you should start a ladies’ detective agency Gloria.
Yes, I think I’d be sh*t hot at that lark; I could call it The Number Two Ladies’ Detective Agency…
Great Gloria, may I be Grace to your Precious? I can type and I’m willing to take orders (one of those is a lie!).
I think this could work. You could definitely be in charge of apostrophes and semi-colons; I’d just be keeping a general log …
St Janes the Apostrophate.
Commagain?
Commagain you say …………. This is Coco the Comma doing Versio Vulgata – Always ready with the common translation!
This is Smudd the Subjunctive, receiving you loud and clear… over?
i think i’ll take a dash ~
‘Ere Glo! ……….. It’s all Koine Greek to me.
You Koine not be serious?!
i am tilde, i am.
can we make a point?
There’s nowt wrong with a variation on the circumflexic theme, Sam. If you’re feeling tilde then make yourself a nice hottie wattie bottie and dive under the covers and let yourself drift off into a comfy and peaceful slumber! But do come back tomorrow, there’s a love!
Sam ………… If you are tilde – just don’t go missing!
Have you made that avatar yourself? ………… It’s really interesting.
I’m a chroninc apostrophobe but sometimes I just don’t get the point.
Hi Chatelaine! I had a point earlier ……… but it became blunted whilst reading about our outrageous and riotous police officers at the G20!
gloria have had a crisp buttie, am feeling so much better now. coco the avater is a bit foggy i see, no matter, i could make a new one i suppose, should i ?
Janes …………. Have you just discovered a new metal – or are you metallicising the apostrophobe for sturdy emphasis?
Sam! No!!! It reminds me of a really pretty brooch I have. And it has a lovely kaleidoscopic feel about it. Keep it!
thanks coco, i was unsure then.
You’re a real bright spark this evening Coco!
Sam, I’m so glad you see a foggy avatar too, I thought it was my eyes.
It seems that we’re all in a really positive period right now. Great. And it’s a full moon. Hurrah!
Ahh, full moon, if only I could see it through the fog.
‘Ere Janes! ……….. I am a perpetual flame!
Sam ……… Keep the avatar ………. It’s not foggy at all. The misty aura lends it a quite mystical quality.
Coco, when they get you I hope you go out in a blaze of glory.
Janes! …………… Don’t let them get me! I am going to hide in that tank of yours if that’s OK?
It’s funny you have brought this up though Janes. I am just sat here playing with my Tupperware sandwich-box and a block of semtex – wondering whether to attach it to a belt and wear it around the village tomorrow afternoon.
I suppose that this is the kind of silly stuff the poor police will have found when investigating these ‘terrorists’.
I learn from the Financial Times website (24/03/09) that a typed valuation certificate for
Gloria,
I think you deserve plaudits for having unearthed this story in the first place and followed it through diligently – you might like to know that it is now one of the most searched stories on Anna Raccoon.
It has been fascinating watching it develop – well done!
Aw! Shucks!
According to The Guardian website Ernst & Young have had the stone independently valued this week so maybe we’ll get some clear idea of what it’s really worth in the near future.
So what about this Ruddy Ruby? What
Aha! At last! From The Telegraph website….
Wrekin’s
3/6d ?
Well done Gloria, you dogged this one right to the end.
Perhaps you should write the defining rubric?
Bugger! So somebody is bringing in real gem-stone testers these days?
Christ! I have been smashing car windscreens for months now! I was going to lodge all the sparkly chunky fragments at the RBS to secure another mortgage.
I take it that I had best not try to pass off my smashed Grolsch bottles as emeralds now either! Does slate pass off as collateral these days? If not ………. I will leave the roof on the garage after all.
One of my siblings was once young enough and gullible enough to buy a lump of red glass which was forever known to us as The Sixpenny Ruby; this extraordinary tale has always reminded me of that.
There is more to be written on the Wrekin Wruby saga but it’s a bit late tonight.
Coco – try smashing Bombay Gin bottles instead and passing them off as Celon sapphires!
Defining Wrubric coming write up!
Awwww Gloria! …………. I have just spent a fortune on Milk of Magnesia to get the high blue! Bugger! And I could have got p*ssed on the gin ……….. instead of having this darned constipation
Finally, finally, finally
Oh Gloria! That is extraordinary.
I don’t know about Ruby going out somewhere but I’m off out now – it took me bloomin’ ages to find this thread to post the update! Ciao bella!
Further searches reveal that the “Wrekin Ruby” is to be sold by GVA Grimley at an auction to be advertised in the UK’s Rock’n'Gem Magazine and in the US publication Colored Stone Magazine. Interested purchasers are to be invited to submit bids and to provide proof of ability to pay.
Rock’n'Gem Magazine is “a quarterly publication bringing you an insight into the fascinating world of rocks, gems, minerals, fossils, gemstone and bead jewellery making.” The cover of the Autumn 2009 issue features “gem and bead jewellery making – the basics of beading and making a cabochon set pendant”, “crystal healing and gem therapy” and “geodes for the heart”. Colored Stone Magazine is “a bimonthly international trade magazine that covers all facets of the colored gemstone industry..”
Anyolite seems to be a metamorphic rock composed of intergrown zoisite, black tschermakite and ruby. Ironically, anyolite is a Maasi word for GREEN …….. maybe not so much green as cabbage-looking perhaps.