Synthetic rubies and sapphires have been around for over 100 years and are dirt cheap ($10 for a 15mm one on eBay). However, the market for natural rubies and sapphires is still going strong. A high quality natural Ruby costs about the same as a similar sized diamond. There's no reason to believe the diamond industry is going to crash any time soon.
> Synthetic rubies and sapphires have been around for over 100 years and are dirt cheap ($10 for a 15mm one on eBay).
Rubies are much cheaper than that.
At least, I used to order them from Pehnec Gems at prices more like $3 per (in lots of 10+). I haven't bought them in years and pehnec.com currently resolves to 10.0.0.1; not sure what's going on.
