Meta title: 11 of the World’s Rarest & Most Expensive Gemstones – TH March
Meta description: Discover 11 of the world’s rarest and most expensive gemstones. What makes these dazzling treasures so unique and sought-after? Read our blog post.
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When you think of the rarest gem in the world, you may automatically think of diamonds. But in comparison to some of the rarest gemstones on the planet, diamonds are positively common. There are gems out there that are so rare, only one or two examples of them have ever been found, and others that are only found in a single location.
If you’re keen to buy a rare or expensive gem for a loved one, or are simply a collector of the geological wonders of the earth, this list of the rarest gemstones will give you an insight into some of the lesser-known options. Be warned, though, you’re going to need deep pockets for some of these, because not only are they rare, but they’re also the most expensive gemstones known to man.
In this article, we’ll examine what makes a gemstone so rare, including its formation, chemical composition, and the environmental factors that contribute to the production of these remarkable gems. We’ll look at what makes them so expensive, as well as answer some of your most commonly asked questions about sourcing, caring for, and insuring the most precious gemstones on the planet.
An introduction to gemstones – what are they?
When you pass a jewellery store window and look at the gemstones sparkling in the light, what you’re actually seeing are minerals, rocks, or organic materials that, once cut and polished, are transformed into incredible works of art. Most people believe that the list of precious gemstones stops at diamonds, emeralds, rubies and sapphires, but there is a huge range of lesser-known gems that are equally as beautiful, and far rarer than the ‘big four’.
To be regarded as a gemstone, it usually has to tick three boxes:
Speaking of rare…
What exactly makes a gemstone rare? The most obvious answer is that there is very little of it known to exist, but that’s not the only criterion. The way a gemstone is created adds to its story, with a combination of heat and pressure having a unique effect on different elements. These signature elements are what differentiate a diamond from a sapphire or a ruby from an emerald.
The vast majority of gemstones are created deep within the Earth’s mantle at depths of between 10-20km below the surface. Here, pressures can reach up to 30,000 times atmospheric pressure, and temperatures range from 650 to 800 °C. It’s the temperatures that allow crystals to form and align in particular lattices that, in turn, create the structure of the gemstone. The slightest fluctuation in temperature or pressure can result in a completely different structure from forming. Instead of a diamond, you could end up with Tanzanite, rubies, garnets, or just plain coal!
The chemical composition also dictates which gems form, with certain elements being essential for the development of crystal structures that eventually become gemstones. Elements such as vanadium, beryllium, or chromium need to be present in precise amounts, while the surrounding rock composition needs to be just right. Imagine the biggest and most complicated cake ever baked. If just one egg or even a few extra grains of sugar are added, the cake will be completely different or even ruined. That is how delicate a balance is required to make the gems that adorn our most precious jewellery.
Over millions of years, these forces compress elemental molecules, forming an incredible range of the world’s rarest gemstones. Man is slowly learning to replicate these forces with artificial diamonds, and now only a trained jeweller can tell the difference between lab-grown and natural diamonds.
What makes a gemstone expensive?
A gemstone’s rarity obviously has a key role to play in its price. For example, amethyst is plentiful, so you’ll find jewellery with this semi-precious gemstone is much more affordable than a ring with a rare tanzanite surrounded by exquisite diamonds. But other factors can affect the price of a gemstone, including:
11 of the world’s rarest gemstones
Let’s take a look at the rarest gems in the world right now, including many you’ve probably never heard of, and one or two surprises along the way.
We couldn’t compile a list of the world’s rarest gemstones without including at least one diamond, and this is the one. Red Diamonds are so rare that fewer than 30 are known to exist in the world. Rather than acquiring their colour through mineral inclusions, the distinctive red tone is the result of plastic deformation, where incredible pressure distorts the internal crystal structure to reflect a blood-red colour. The most famous Red Diamond is the 5.11-carat Moussaieff Red, found in Brazil in the 1990s. Prices for fully authenticated Red Diamonds can run into the millions.
This Australian gem, discovered in the Musgrave Ranges, has a wonderfully smoky grey colour that makes it highly desirable for contemporary jewellery. Its rarity also puts it in a high price bracket, with good-quality stones with minimal inclusions fetching up to $35,000 per carat.
This dazzling gem first emerged in the 1830s in Russia’s Ural Mountains. Coveted for its shimmering, colour-changing nature, it’s a chrysoberyl variant that shifts from bluish-green in daylight and reddish-purple in artificial light. The original sources are almost depleted, making Alexandrite from the Urals particularly sought after, with prices of around $15,000 per carat or more for Russian examples.
First discovered in Myanmar in 1951, Painite is one of the rarest gemstones on the planet, with only around 1,000 pieces known to date. Not all of these are gemstone quality, making them even rarer and commanding a price of up to $60,000 per carat. The deep red-brown colour is unusual too, making it the ultimate must-have gemstone for collectors.
Also known as Bixbite, Red Beryl first popped to the surface in 1904 in the Wah Wah Mountains of Utah. The problem with Red Beryl is that only around 5% of stones are gem quality. However, that makes the raspberry tone of the few stones that are large enough to refine all the more valuable. The manganese in the stone creates that incredible colour, and high-quality Red Beryl can be worth around $10,000 per carat.
With its striking blue colour and exceptional clarity, Tanzanite is one of the most popular of all the world’s rare gemstones, thanks to its use in high-end Tiffany & Co jewellery. Only discovered in 1967 in Tanzania, its romantic location, close to Mt. Kilimanjaro, and that remarkable blue-violet colour make it highly sought after. As it’s only found in a small area in Tanzania, stocks are dwindling, and its current average price of $1,200 per carat is expected to rise in the years to come.
Two minerals are often referred to as ‘jade’, and this is one. The other is Nephrite, which is more common, but true Jadeite is exceptionally rare and highly sought after, especially in Asia. It comes in a range of colours, from lavender and pea green through to yellow and orange-red, with the translucent green ‘Imperial Jade’ worth up to $30,000 per carat.
Initially mistaken for sapphires, Benitoite was first discovered in California in 1907, near the San Benito River (hence the name). The mine where it was found closed around 20 years ago, making it even rarer, and no major source has been discovered elsewhere to date. It can be worth between $3,000 and $4,000 per carat, and again, the scarcity of good-quality stones makes it even more desirable.
Grandidierite is only found in southern Madagascar, where it was first discovered in 1902, and no other sources have been found to date. The appealing teal colour and its pleochroic qualities, which give a rainbow effect when viewed from different angles, make it exceptionally desirable. It is hard and durable, but rare, which explains its price tag of over $20,000 per carat.
This addition is somewhat unconventional, as Fordite isn’t a gemstone but rather a series of hardened paint layers from the automotive factories of Detroit in the 1950s. Genuine Fordite is popular with contemporary artists who love the striated layers of colour. However, due to the use of lead in paints during that era, it must be cut and shaped with extreme caution. Fordite is a finite resource, and prices are on the rise, with authentic vintage pieces fetching hundreds or even thousands of dollars.
Semi-precious stones can also be scarce, as is the case with Blue John. Only found in a few caverns in Castleton, Derbyshire, its distinctive purple and blue banding gives it its name. Its rarity and striking appearance make this version of Fluorite very desirable for jewellery, and prices can be as high as £750 and more for museum-grade pieces.
How can you identify a rare gemstone?
With so many rare and valuable gemstones on the market, there are inevitably going to be fakes or imitations floating around. If you’re investing thousands or even hundreds of thousands in a single item, it’s essential to identify and authenticate it.
Digital Certification systems – Gemstones that have been authenticated and verified are assigned a digital certificate and unique identification number that can be easily checked online. Institutions that issue DCs for precious gemstones include the highly respected International Gemological Institute, GemSoft, and GemLab’s Gen Track System.
Advanced Spectroscopic Analysis – By combining advanced techniques of Raman, UV-visible, and infrared spectroscopy, a gem’s ‘fingerprint’ can be revealed through the examination of its interaction with light, thereby exposing its crystalline structure. This can then be compared against known examples to authenticate its origin and, in the case of similar gems, its actual identification. Another technique that employs a similar process is photoluminescence, which can help distinguish between natural and laboratory-produced gemstones.
Chemical composition analysis – The key with CCA is to ensure that the chemical composition of the stone is determined without damaging its structure, which is achieved using X-rays and lasers. The process detects trace elements within the stone to identify its point of origin and determine its chemical makeup, thereby establishing its identity.
Professional consultation – Unless you’re a professional gemmologist, it’s imperative to take professional advice before investing in a very rare or expensive gemstone. The most precious gemstones are well documented and have already undergone extensive testing and verification, so a professional gemstone expert will easily be able to verify if the stone or piece of jewellery you’re thinking about buying is genuine. They can also carry out testing and authentication inquiries on your behalf.
Provenance – The most famous and rarest gemstones in the world have a well-known and well-documented provenance. If there are any gaps in the documentation or dates when the stone ‘disappeared’, it may be worth conducting further investigations before investing a significant amount of money in what could be a very clever fake. This is especially true with ultra-rare gemstones such as Red Diamonds.
FAQs
Are rare gemstones a good investment?
Yes. The value of the world’s rarest gemstones is only going in one direction – up! Other gems are also becoming rarer as supplies run low or mines are closed, so they do represent an excellent investment opportunity.
Can they be used in everyday jewellery?
Yes, but be careful not to damage or scratch them, as this can significantly devalue them.
How do you verify the authenticity of a gemstone?
There are several methods for authenticating a gemstone. Take a look at the paragraph above on Identifying Rare Gemstones for more information.
Our top tips on how to preserve and look after a rare gemstone
While most precious gemstones are relatively strong and tough enough to be worn every day, they still require care to maintain their beauty.
Don’t try cleaning the most expensive gemstones yourself – Leave cleaning and polishing to the professionals. Not only do they have the experience to clean them, but they also have the right equipment to do so.
Keep it in a soft bag or custom-made box – When you’re not wearing your jewellery, keep it in a soft bag or lined box to prevent scratching and knocking.
Keep all paperwork – If you do decide to sell your gemstone, the buyer will want to see its provenance.
Avoid immersing it in water or allowing it to come into contact with chemicals. Gemstones set into pendants can lose their lustre if perfume is sprayed directly onto the surface. Apply perfume or cologne, and then put on your jewellery after the alcohol base has evaporated.
Insure your most precious gemstones – Some of the world’s rarest gemstones are insured for astronomical amounts of money. Speak with a jewellery insurance specialist who can arrange bespoke coverage for individual items. You can get your precious gemstones insured with TH March by visiting our jewellery insurance page and getting an initial quote online. With over 130 years of experience, TH March offers premium-quality insurance for rare gemstones of all types. Contact us now for more information.