The Factors Affecting Spinel Prices
Spinel is a group of different colored minerals varying from colorless to vivid blue, green, pink, orange, purple, and black hues. Of all the colors, the rare Ruby-like Red Spinel is the most coveted and sought-after. Spinels in specific shades are also considered wonderful healing gemstones globally, while other colors are often used in exceptional jewelry pieces. Additionally, Spinels are known as the birthstone for August.
The value of a Spinel is determined by various factors, such as its quality and size. The increasing demand for this exquisite gemstone significantly impacts its price. The 4Cs of quality testing determine the quality of a Spinel: color, cut, clarity, and carat weight. In addition to the 4Cs, the origin of the Spinel gemstone also plays a crucial role in its price. Some renowned sources provide fine-quality Spinels that cannot be found elsewhere.
THE ORIGIN AND THE PRICE
As previously noted, the origin of a Spinel stone has a significant impact on its price. The finest quality Spinels in red and pink hues are primarily produced in Myanmar (Burma) and Tanzania, resulting in higher prices for these varieties. Additionally, the blue Cobalt Spinels from Sri Lanka (Ceylon) also command a high price, second only to the red and pink Spinels from Myanmar and Tanzania.
THE COLOR AND THE PRICE
Some colors of Spinel are in high demand for various reasons, including astrological and aesthetic preferences. Red Spinels, in particular, are highly sought after due to their resemblance to precious Rubies, which often results in higher prices than other colors like orange, pink, and black. The blue Spinel also commands a good price due to its remarkable color tone, intensity, and saturation. Conversely, Black Spinels are more readily available and therefore tend to be more economical for those interested in purchasing a Spinel.
THE CLARITY AND THE PRICE
It is quite uncommon to come across Spinels entirely free of inclusions. As a result, Spinels should possess little to no visible inclusions. The placement of these inclusions also plays a significant role in determining the gemstone's price. Hence, in terms of clarity, a red or blue Spinel that exhibits minimal imperfections and possesses a high-quality luster is considered more valuable and is priced accordingly.
THE CUT AND THE PRICE
Like all gemstones, the value of Spinel is also largely determined by the quality of its cut. Expertly faceted Spinels are highly prized and command a premium price. The faceting process results in significant wastage of gemstone rough, which is one of the reasons why the cost is higher for these specimens. Moreover, well-cut Spinels showcase their brilliant hues while effectively masking any visible inclusions, adding to their worth.
Consequently, Spinels that are expertly cut into shapes like emerald-cut, square-cut, and rectangle-cut are considerably more expensive than those cut into less expensive shapes like oval, round, and cushion-cuts, as well as cabochons.
THE CARAT WEIGHT AND THE PRICE
One of the primary factors determining the price and quality of Spinels is their carat weight. In particular, the price of red and blue Spinels increases with their size due to their high market demand. However, this relationship does not hold for black Spinels. Despite being easily obtainable, black Spinels do not command the same demand as their colored counterparts, and therefore, their price does not increase with their size.
SPINEL PRICES IN THE US
The average Spinel Stone price in the US fall between $15 to $850 per carat and sometimes might go higher. However, in select international auctions, exceptionally high-quality Spinel gems have fetched prices as high as $900 per carat.
These high prices reflect the exceptional beauty and rarity of certain Spinel gemstone, particularly those with intense and vibrant hues. Red and blue Spinels, in particular, are highly sought after due to their rarity and vibrant coloration, which can lead to higher prices in the market. However, it is worth noting that not all Spinels command such high prices.
WHERE TO LOOK FOR NATURAL SPINELS IN THE US
When searching for a high-quality Natural Spinel gemstone, it is essential to purchase from a trusted and reputable online retailer like Navratan, the online gem bazaar. We specialize in sourcing and selling the finest natural Spinels available, all of which have been authenticated and certified as genuine and of the highest quality by esteemed gemstone laboratories like IGI, SSEF, AGS, and more.