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Spinel price information

June 24, 2021

spinel from Myanmar

In the photo: spinel from Myanmar

In the first part of the spinel buyer guide we talked about its color varieties, clarity and cut. The second part is devoted to valuation.

This gem shows a wide range of prices, from cheap to very expensive because of it different colors. The prices shown in this article are based on a review of real market offers and analysis of various publications.

The price of spinel

Red natural spinels show the highest price. Excellent samples from Burma (Mogok) and Tanzania (Mahenge) are breaking historical price records being in the trend for the last decade. Natural samples of vivid color and high clarity make sense to consider as a profitable investment. Spinel is approaching the price of a ruby every year. Spinel in jewelry gives much more social bonuses to its owner and better emphasizes status than, for example, garnet or tourmaline. Spinel organically looks in diamonds and precious metals. This is the level of world brand jewelry houses.

The best samples of blue color can compete in cost even with red ones. Such gems are mined, for example, in Sri Lanka and in Vietnam.

Among the blue stones (indicolite, tanzanite, sapphire), blue spinel is higher in value than tanzanite and lower than blue sapphire.

Violet, purple, steel gray, lavender samples have much lower prices than red, pink and blue. Such colors are priced at the level of zircons, aquamarines and morganites. Black opaque spinel samples are least valued.

How much is a carat of spinel?

Features such as color, carat weight, clarity, cut quality, and origin affect the spinel price per carat. If we compare the stones of the same color and clarity, the cost increases with the increase in weight. Every year, large stones of red and pink color over 5 carats are found less and less and go up at times. Samples of more than 10-15 carats are considered exceptional finds. The presence of gentrification (heat treatment) does not affect the cost.

We give approximate prices here. Consider red spinel (visually clean or with barely noticeable inclusions, without additional shades, rich red color, average cut quality) in US dollars per carat:

  • 2 ct 3500-4000
  • 5 ct 8000
  • 10 ct from 10 000

And for comparison – for the dark red variety of similar characteristics (dark red spinel) in US dollars per carat.

  • 2 ct 500
  • 5 ct 1200
  • 10 ct from 2500

When viewing a stone, it is necessary to correctly assess color, saturation, tone. For a stone like red spinel, even a slight deviation in shade can lead to an increase or decrease in price, sometimes at times.

If the cutting and polishing is performed at a high european level, the cost increases by 20-30%.

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