One factor that places alexandrite apart from the family of precious gemstones is its ability to change colors. Alexandrite is known by the motto “an emerald by day and a ruby by night” because of this fascinating property. During the daytime or under fluorescent lights, alexandrite appears in many shades of green. However, at night and when under incandescent lighting, it appears to be various shades of red and purple.
These gorgeous color changes make alexandrite highly sought after as a component in rings, necklaces, and other jewelry pieces. And, of course, with greater demand comes a higher price. Learn more about this brilliant gemstone and how to determine what an alexandrite ring should cost by reading below.
Some Fast Facts About Alexandrite
Alexandrite forms naturally when elements such as iron and chromium combine with chrysoberyl, a rare gemstone with color-changing properties. It was first discovered during the 19th century in the Ural Mountains of Russia, and for many years, this was thought to be the only place it could be found. However, high-quality alexandrite has also been discovered in Brazil, India, Myanmar, Sri Lanka, and Zimbabwe. It is one of the birthstones of June and stands for luck and fortune. After all, anyone would be lucky to own an alexandrite ring!
How Much Is an Alexandrite Ring Worth?
In general, alexandrite’s value depends on the 4 Cs: cut, color, clarity, and carat. However, keep in mind that alexandrite also has varying degrees of quality that affect its value. Depending on the level of quality, the price can range from $10,000 to more than $50,000 per carat.
Alexandrite ring is typically placed into three quality categories: low, medium, and high.
Not All Alexandrite Is Created Equal
Low-quality alexandrite usually exhibits either no or very little color change. Many alexandrite stones of this quality will not receive lab certification. Unfortunately, a lack of certification does not mean that some people won’t try to mark up the selling price. At this level of quality, the value will be $2,000 per carat at the most. If you’re looking for an alexandrite ring, stay away from low-quality stones and look for medium or high-quality stones instead.
Medium-quality alexandrite will meet the requirements for lab certification most of the time. Color change at this level of quality is normally above 50-60%. Daylight color is important in this category; make sure the stone appears green or blue-green during the daytime. While a bit of yellow or brown is perfectly fine, avoid stones that seem to only be brown, as they are most likely of lower quality. Since many buyers are after medium-quality alexandrite, this quality of the stone can be very rare. Prices range from $7,000 to $20,000 per carat. Price also depends on the place of origin; alexandrite originating from Russia or Brazil will always have more value.
High-quality alexandrite’s defining characteristic is clarity. In addition, color change at this level is between 80 and 100%. Once again, alexandrite from Russia or Brazil will automatically be more valuable than others. Wholesale prices here can start at $20,000 per carat.
Beware of Imposters
We’re often asked about “simulants,” or simulated alexandrite, otherwise known as Alex. Please note that simulants can come from natural stones or be manufactured synthetically. What do they have in common? Neither is alexandrite. Simulants do not change color, or they change to the wrong color. Some are the improper color, to begin with. Simulants also don’t even come close to the hardness and durability of alexandrite. If you’re not 100% sure that you’re looking at a real alexandrite ring, be sure to consult an expert before buying.
Find Your Perfect Alexandrite Ring at a Joshua Kodner Galleries Jewelry Auction
Joshua Kodner Galleries is an appraisal and auction house based in Dania Beach, FL. We serve not only Florida but also international markets. When it comes to a jewelry auction or alexandrite ring auction, we can assist both buyers and sellers. Contact us to get started!