When most of us think of buying expensive and important jewelry, we think of diamonds, rubies, emeralds and sapphires. We probably don’t think about Spinels and Paraiba tourmalines…if we even know what those are.
Spinels and Paraiba tourmalines are definitely worth watching, however, and getting to know more about. Collectors and investors are turning to these niche stones not only for their beauty but also for their potential as appreciating assets, particularly as the “Big Four” gemstones continue to rise in price.
Spinels, found in countries like Myanmar, Sri Lanka, Vietnam, and Afghanistan, were once undervalued and mistaken for rubies until they were properly classified in the 18th century. These gems come in a range of colors—red, blue, pink, green, and purple—offering unique shades that appeal to connoisseurs. Notably, a red spinel ring that sold for £6,000 in 2016 was insured for £30,000 just a few years later, highlighting its rapid appreciation. A famous example, the Hope Spinel, fetched £962,500 at auction in 2015—over six times its estimated value—drawing attention to the gemstone’s untapped potential. Jennifer Tonkin of Bonhams, a leading auction house, noted the demand for “fire-engine red” spinels from Burma and rose-pink varieties from Tajikistan, which have become highly sought after by collectors for their rarity and depth of color.
Paraiba tourmalines, known for their electric turquoise hue, were discovered in Brazil in the 1980s. This vibrant color results from trace amounts of copper in the stone, and the gems are extremely rare, making them highly valuable. Some experts say that only one Paraiba tourmaline is mined for every 10,000 diamonds, emphasizing their exclusivity. As a result, prices have risen dramatically, reaching as much as $75,000 per carat for high-quality stones at auction houses like Bonhams. This rarity has sparked interest from collectors and designers alike, with Roberto Boghossian of the jewelry house Boghossian describing their neon-like appearance as a refreshing alternative to more traditional gemstones.
The appeal of these stones also extends to ethical considerations. Spinels, often mined on a smaller scale, pose fewer ethical concerns than other gemstones, making them attractive to consumers looking for responsibly sourced jewels. While not necessarily low in price, these choices may be worth exploring if you are an investor, collector, or lover of fine jewelry.
