Fight on Isla de Muerta 17
"It's not a bad look, really. Eh?"
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"The Eye of Despair! I have the entire gem at last!"
John Stryke[src]

The Eye of Despair was a large, red gem that was of great wealth. It was hidden inside a treasure chest in the Grotto of Despair.

John Stryke owned a piece of the ruby, which hid his deformed appereance. Later, he used the crew of the Black Pearl to lead him to the rest of the ruby. A swordfight ensued between Jack Sparrow and Stryke, which eventually turned out to favor Sparrow, with Stryke stuck in a treasure chest. During the duel, Stryke dropped the Eye into a pit.