Top 5 Most Expensive Gemstones in the World
The world of gemstones holds rare treasures that command staggering prices due to their beauty, scarcity, and historical significance. Here is a ranking of the five most expensive gemstones, with insights into their origins, market value, and investment potential.
1. Blue and Red Diamonds – Up to $3 Million Per Carat
Among all colored gemstones, blue and red diamonds are the rarest and most valuable.
• Blue Diamonds owe their mesmerizing color to traces of boron and are found primarily in the Cullinan Mine in South Africa and the Argyle Mine in Australia. Prices for top-quality blue diamonds start at $1 million per carat, but the most famous examples, such as the Blue Moon of Josephine (sold for $4 million per carat), can command even higher sums.
• Red Diamonds are the rarest, with fewer than 30 gem-quality specimens known to exist. The Argyle Mine in Australia produced the majority of the world’s red diamonds before closing in 2020. The Moussaieff Red Diamond, a 5.11-carat gem, is among the most valuable red diamonds ever discovered, with an estimated worth of over $20 million. The rarity of red diamonds means that any available specimens are sold privately for undisclosed, astronomical sums.
2. “Pigeon’s Blood” Ruby – $20,000 to $30,000 Per Carat
Among colored gemstones, top-quality rubies are some of the most sought-after, particularly the “pigeon’s blood” variety—a deep red hue with a slight blue undertone.
• The finest rubies come from Myanmar (Burma), particularly from the legendary Mogok Valley. Other sources include Mozambique, Vietnam, and Thailand, but Burmese rubies remain the gold standard.
• Prices for high-quality, untreated Burmese rubies over 5 carats range from $20,000 to $30,000 per carat, with exceptional stones exceeding $1 million per carat at auction.
• In 2015, the 25.59-carat “Sunrise Ruby” set a record when it was sold for $30.3 million, making it one of the most expensive rubies ever.
3. Paraíba Tourmaline – Up to $30,000 Per Carat
First discovered in Paraíba, Brazil, in the late 1980s, Paraíba tourmaline is one of the most striking and valuable gemstones, prized for its neon blue-green glow, caused by traces of copper and manganese.
• High-quality Paraíba tourmalines from Brazil are the most expensive, though deposits in Mozambique and Nigeria have increased supply in recent years.
• Prices vary depending on clarity, color intensity, and size. For small stones under 1 carat, prices range from $10,000 to $20,000 per carat, while larger stones over 3 carats can exceed $30,000 per carat.
• In 2024, prices for Brazilian Paraíba tourmalines continued to rise, with clean, high-carat specimens becoming rarer.
4. Padparadscha Sapphire – Up to $30,000 Per Carat
The Padparadscha sapphire is one of the rarest sapphires, distinguished by its delicate pink-orange hue, resembling the colors of a lotus flower at sunset.
• The best Padparadscha sapphires come from Sri Lanka, though deposits have also been found in Madagascar, Tanzania, and Vietnam.
• Due to its scarcity and high demand, fine-quality stones over 5 carats are extremely rare and can command prices of $20,000 to $30,000 per carat.
• The Padparadscha sapphire gained international fame when Princess Eugenie of the UK received an engagement ring featuring this unique stone, increasing its desirability among collectors.
5. Kashmir Sapphire – $20,000 to $30,000 Per Carat
Kashmir sapphires are considered the pinnacle of blue sapphires, known for their velvety, deep royal blue color and exceptional saturation.
• The original Kashmir mines were depleted in the 19th century, making these sapphires some of the rarest gemstones on the market.
• Stones with an official “Kashmir” origin certificate are highly sought after, with prices reaching $20,000 to $30,000 per carat for specimens over 5 carats.
• At auctions, some exceptional Kashmir sapphires have sold for over $200,000 per carat, surpassing even some diamonds in value.
In recent years, Vietnamese sapphires have gained attention due to their striking resemblance to Kashmir sapphires. Deposits in the Luc Yen region have produced deep blue sapphires with similar velvet-like textures, creating a potential alternative to the legendary Kashmir stones.
However, despite their similar appearance, the brand value of Kashmir sapphires will likely keep their prices high. Collectors prioritize the historical significance and provenance of gemstones, meaning Kashmir sapphires will continue to command premium prices, even as Vietnamese sapphires gain popularity.
Final Thoughts
The rarity, quality, and origin of a gemstone determine its market value, with some stones reaching prices comparable to or exceeding diamonds. While blue and red diamonds remain the most expensive colored gemstones, rubies, Paraíba tourmalines, and rare sapphires continue to rise in value.
With new discoveries like Vietnamese sapphires entering the market, the world of high-end colored gemstones is constantly evolving. However, true collector’s stones—such as Kashmir sapphires, Burmese rubies, and Paraíba tourmalines—remain timeless investments, with prices expected to climb even further in the future.
Olga Bachurina,
Co-Founder of Venus in Libra,
Certified by GIA & Gübelin Academy
