In recent years, spinel has gained significant popularity among gemstone buyers, with prices rising steadily across various colors, especially red and blue. Traditionally overshadowed by rubies and sapphires due to their visual similarities, spinel is now being appreciated for its unique qualities and rarity.
Key Factors Behind the Rise:
- Price Increase for Rare Colors: High-quality red and blue spinels have seen sharp price hikes. For example, vivid red spinels from Myanmar or Tajikistan have more than doubled in price over the past few years, reaching up to $6,000 per carat. Blue cobalt spinel has also become highly sought after, with prices reaching $20,000-30,000 per carat.
- Rarity and Demand: Spinel’s rarity, particularly in red and blue hues, makes it a desirable alternative to rubies and sapphires, which are increasingly hard to find in similar quality. While spinel prices are still lower than those of top-quality rubies and sapphires, the growing interest has driven up its market value.
- Ethical and Aesthetic Appeal: Buyers are drawn not only by the aesthetic beauty of spinel but also by its relative affordability and its reputation as a more ethical choice. However, this can sometimes be a marketing exaggeration. The ethical sourcing narrative around spinel and other colored stones is not always as clear-cut, as the supply chain for natural spinel is still not fully transparent.
Popular Varieties:
- Red Spinel: Highly sought after, especially from regions like Myanmar and Tanzania. Its deep red color makes it a popular alternative to rubies.
- Cobalt Blue Spinel: This rare gem has skyrocketed in price, particularly due to its vibrant, intense color and growing demand from markets like China.
As the popularity of spinel continues to grow, we can expect further price increases, making it both a beautiful and smart investment choice in the world of gemstones.
Sources of Information:
- International Gem Society - Las Vegas JCK Show and Spinel Trends
- CNN Reports: Spinel’s Growing Value in 2024
- Gemval - Spinel Average Retail Prices
- Gem Society - Top Five Gemstone Investments for 2024
