Spinel Price Guide
Published on Jun 20, 2020
Spinel is a fascinating mineral found in various colors ranging from colorless to brick -red, intense blue, green, pink, orange, purple, and black. Of all these colors, the rare Ruby-like Red Spinel is the most desired as well as sought-after. Globally, Spinels in specific shades are considered wonderful healing gemstones whereas other colors are used in extraordinary pieces of jewelry. Spinels are also known as the birthstone for the month of August.
When it comes to the price of Spinels, it is derived by closely assessing its quality factors as well as size. The booming demand of this exquisite gemstone also affects the prices significantly.
The quality of Spinel is determined by the study of the 4Cs of quality testing, i.e, Spinel’s Color, Cut, Clarity, and Carat Weight. Apart from the 4Cs, the origin of the Spinel gemstone also has a significant play in the prices as some renowned sources provide fine-quality Spinels seen nowhere else.
The Origin and The Price
As mentioned before, the origin of the gemstone affects its prices immensely. When it comes to Spinels, the red and pink Spinels produced in Myanmar (Burma) and Tanzania are of the highest quality and therefore are priced higher. In addition to this, the blue cobalt Spinels from Sri Lanka (Ceylon) also draws one of the highest Spinel prices, second only to the former two.
The Color and The Price
There are certain colors in Spinel that are highly in demand due to various reasons ranging from astrological as well as aesthetic reasons. Due to its resemblance with the precious Ruby, red Spinels overtake other colors such as orange, pink, and black in prices. The blue Spinel also grabs a good price due to its amazing color tone, intensity, and saturation. However, Spinels such as the black Spinel are very easily available and therefore are much economical options if you wish to buy a Spinel.
The Clarity and The Price
Spinels are rarely found without any inclusions. Therefore, it is preferred to have zero to minimum eye-visible inclusions. Furthermore, the location of these inclusions also affects the price. Consequently, when it comes to clarity, a red or Blue Spinel with least visible flaws and a good luster is priced higher.
The Cut and The Price
As goes for every gemstone, a skillfully cut or faceted gemstone will be priced higher, and Spinel is not an exception to this norm. Faceted Spinels incur significant gemstone rough wastage during the cutting process and thus compensate for it with higher prices. However, the prices for faceted specimens are also high due to the fact that skillfully cutting a Spinel brings out its vibrant color as well as conceals highly visible inclusions. Therefore, highly faceted Spinels in shapes such as the emerald-cut, square-cut, and rectangle-cut have a higher price in the market in comparison to economical shapes such as oval, round, and cushion-cuts, as well as cabochons.
The Carat Weight and The Price
First and foremost, the carat weight and the price of Spinels are directly proportional to the quality, and mostly the color of the Spinel, as well as its rarity. Red and blue Spinels witness a rise in prices when their size increases due to their high demand in the market. However, when it comes to black Spinels, there is no such increase in its prices when the size increases, considering the fact that black Spinels are very easily available and are not as much in demand as compared to other color variants.
The price of Spinel usually ranges from ₹1500 ($25) to ₹50,000 ($780) per carat. It is important to note that the weight of Spinel is measured in Rattis in India, instead of the customary Carats. The conversion of Rattis to Carats is pretty simple (1 ratti = 0.91 carats) and therefore we hope you do not face this issue while purchasing a Spinel gemstone.
If you are looking for a fine quality Spinel gemstone, it is recommended that you purchase from a trusted online retailer such as GemPundit. We deal in the best quality natural Spinels that have been verified and certified to be authentic and of the finest quality by renowned gemstone laboratories such as IGI, AGR, etc.