Alexandrite Value, Price, and Jewelry Information

An alexandrite crystal on micaceous schist, displaying green to red color shift. 3.7 x 2.7 x 1.5 cm, Malashova Mine, Ural Mountains, Russia. © Rob Lavinsky, www.iRocks.com. Used with permission.

What makes this guide essential for gem enthusiasts and jewelry lovers? You'll discover:

• The incredible science behind alexandrite's remarkable color-changing abilities
• Detailed insights into the value and rarity of natural alexandrite gems
• Comprehensive information about alexandrite's geological origins and historical significance
• Expert knowledge on identifying, purchasing, and caring for alexandrite jewelry
• Fascinating details about synthetic and natural alexandrite variations

What is Alexandrite? Key Facts, Information, and Insights

Historical Context and Discovery

The story of Alexandrite begins with its discovery in the Ural Mountains of Russia during the 1830s. Noted mineralogist Nils Gustaf Nordenskiöld was the first to realize this unusual green, color-changing gemstone was something new. In 1834, Count Lev Alekseevich Perovskii named the stone in honor of the future Czar of Russia, Alexander II.

This association with the Czars likely helped the gem gain prestige by association. In the 19^th and early 20^th centuries, as historian David Cannadine notes, the Czars were widely considered the standard for royal pomp. (More recently, the British Royal Family has enjoyed this position).

By the 1950s, alexandrite joined the list of birthstones as the modern alternative to traditional pearl for the month of June.

Rarity: A Geological Marvel

If not for alexandrite's royal associations, the circumstances necessary for its formation and its mining history might have ensured the gem would be little known, too. Alexandrite's formation requires a remarkable geological coincidence: the presence of beryllium, one of the rarest elements on Earth, and chromium. These elements rarely occur in the same rocks or in geological conditions where they interact. Furthermore, the original source of alexandrites was almost exhausted after only a few decades of mining.

Despite new sources emerging since the 1980s, alexandrite remains one of the rarest gemstones on the planet. A combination of beauty, celebrity, and rarity have helped create a mystique around this gem in the public imagination.

Cat's Eye Alexandrite: A Rare Display

Alexandrite is a variety of chrysoberyl, a gem species well-known for producing a fascinating chatoyancy or "cat's eye" effect when cut as cabochons. However, cat's eye alexandrites are exceptionally rare.

This oval cabochon alexandrite shows both exceptional color change and a sharp cat's eye across its entire surface. The dark blue-green to purple color change covers about 80-85% of the gem. (Look at the reflections carefully and you can see sunlight causing the blue-green color and incandescent light causing the purple color). 1.20 cts, 6 x 4.8 mm, Andhra Pradesh, India. © The Gem Trader. Used with permission.

Color Change

The color change phenomenon in alexandrites can occur under a variety of lighting types. When grading an alexandrite's color change, gemologists consider the stone's color in natural sunlight as the baseline. Thus, the classic alexandrite color change is green in sunlight and red in incandescent light. However, other types of lights can produce other colors, as shown below.

Regional Variations and Characteristics

Different sources can produce alexandrites with varying characteristics.

Brazilian alexandrites tend to have pale colors, pale blue-green to pale mauve. However, finer gems have been found recently in limited quantities. Gemologists have detected substantial amounts (1,200 ppm) of the element gallium (Ga) replacing aluminum (Al) in some Brazilian material.

These alexandrites on biotite schist matrix from Brazil show a green to "amethystine" color change. 5.3 x 4.0 x 2.3 cm, Carnaiba mining district, Pindobacu, Campo Formoso ultramafic complex, Bahia, Brazil. © Rob Lavinsky, www.iRocks.com. Used with permission.

Sri Lankan alexandrite often appears deep olive-green in sunlight, whereas Russian stones appear blueish green in sunlight.

Zimbabwean gems show a fine, emerald-green color in sunlight but are usually tiny. If clean, they weigh under 1 carat. The color change in Zimbabwean gems is among the best known, but large, clean stones are virtually unobtainable from the rough from this locality.

Other physical and optical properties of alexandrites vary according to their source.

Understanding Alexandrite Value and Pricing

Alexandrite value is driven by two primary factors that make this gem truly exceptional:

• The closer the colors are to pure green and pure red, the higher the gem's value.
• The more distinct the color change, the more prized the alexandrite.

Alexandrites can exhibit color changes ranging from 100% to as little as 5% coverage. The most valuable gems showcase a 100% shift from pure green to pure red. Blue-green and purplish or brownish red variations hold less less market value.

Clarity and Size Impact

Clarity plays a crucial role in grading. However, an alexandrite's color change trumps clarity in determining value. As is the case with a majority of gems, most naturally occurring alexandrites aren't clean, facetable materials. They are better suited for cabbing. Nevertheless, an eye-clean faceted gemstone with a 50% greenish blue to brownish red color change would be considered less valuable than an opaque cabochon with a 100% green to red color change.

Size always influences alexandrite pricing. You can see this reflected in our Price Guide. For example:

• Up to one carat: top-quality natural gems can sell for an average of $1,818 per carat.
• From one to 1.99 carat: top-quality natural gems can sell for an average of $6,667 per carat.

For more detailed value information, see our alexandrite buying guide.

This oval-cut alexandrite has a 100% color change, from a strong blue-green in sunlight to a purple "plum" red in incandescent light. 0.35 cts, 5.1 x 4.2 mm, Russia. For alexandrites, this is a large gem. © Rob Lavinsky, www.iRocks.com. Used with permission.

Synthetic and Simulated Alexandrite

A significant market exists for lab-created alexandrite, first synthesized in the 1960s. Manufacturers can create these stones through various methods:

• Melt techniques (e.g., Czochralski method)
• Hydrothermal growth
• Flux methods

These synthetic stones have chemical and physical properties identical to those of natural alexandrites. These synthetics are real alexandrites but not natural gemstones. While considerably less expensive than natural stones, they still rank among the most costly synthetic gemstones available.

Gemologists can sometimes identify synthetic alexandrites by inclusions and other telltale signs caused by various growth procedures.

Tips for Identifying Synthetic Alexandrites:

• Melt techniques can create curved striae.
• Hydrothermal growth may produce bubbles and liquid inclusions.
• Flux methods might leave platinum or other seed material inclusions.

A considerable market also exists for lookalikes or simulants. These can range from synthetic corundum with alexandrite-like color change (produced very inexpensively) to actual, natural color-change chrysoberyl stones. Although alexandrite is a variety of chrysoberyl, not all color-change chrysoberyls are alexandrites. These gems also command a high price, but, again, not nearly as high as alexandrites. (Editor's note: No gemological consensus exists for restricting the definition of alexandrite to color-change chrysoberyl gems with a limited, "classic" range of color shift).

Buyer beware. If you find an alexandrite at a relatively bargain price, it's likely not natural and possibly not an alexandrite. A professional gemological laboratory can make a determination.

Enhancements

Natural alexandrites usually don't receive any treatments.

Sources and Availability

The main source of large, natural alexandrite gems today is antique jewelry. However, reopened mines in the Ural Mountains in Russia produce a few carats of gem-quality material annually. 

Alexandrites have also been found in the following locations:

• Brazil (deposits discovered in 1987)
• Madagascar
• Myanmar
• Sri Lanka
• Zimbabwe

Unfortunately, none of these sites produce alexandrites with as rich and vivid a color change as the original Russian source.

Alexandrite Stones Sizes

The largest known faceted alexandrite, a 65.7-ct green/red color change stone from Sri Lanka, resides at the Smithsonian Institution. The largest Russian gems weigh about 30 carats. However, the vast majority of alexandrites weigh under one carat. Stones over five carats are very rare, especially with good color change.

Other alexandrites of notable size include in the following:

• British Museum of Natural History (London): 43 and 27.5 cts (Sri Lanka).
• Institute of Mines (St. Petersburg, Russia): cluster of three crystals, 6 x 3 cm (Urals).
• Fersman Museum (Moscow, Russia): crystal group, 25 x 15 cm, crystals up to 6 x 3 cm (Urals).
• Private Collections: stones up to 50 cts have been reported.

Practical Considerations for Alexandrite Ownership

With an impressive hardness of 8.5, alexandrite makes a durable gemstone suitable for any jewelry setting. Nevertheless, gem cutters should take precautions when faceting the stone. Alexandrite is still sensitive to knocks and extreme heat.

Fortunately for gem and jewelry owners, alexandrites have no special care requirements. Keep the following basic advice in mind:

• It is safe to clean alexandrites mechanically, but follow the instructions of the system you use.
• Washing alexandrites with warm, soapy water and a soft brush is the safest method.
• Consult our gemstone jewelry cleaning guide if you want more information.

Frequently Asked Questions About Alexandrite

What makes alexandrite so unique?

Alexandrite is renowned for its remarkable color-changing ability, transforming from green in sunlight to red in incandescent light. Often described as "emerald by day, ruby by night," this gem is one of the most extraordinary stones in the world.

How rare is alexandrite?

Alexandrite is extremely rare. Its formation requires the presence of beryllium (one of the rarest elements on Earth) and chromium, which rarely occur together. Most alexandrites weigh under one carat, and stones over five carats are exceptionally uncommon.

When and where was alexandrite first discovered?

Alexandrite was discovered in the Ural Mountains of Russia in the 1830s. Noted mineralogist Nils Gustaf Nordenskiöld first recognized its unique properties, and in 1834, Count Lev Alekseevich Perovskii named the stone after the future Czar of Russia, Alexander II.

How much does alexandrite cost?

Alexandrite prices vary dramatically based on carat weight.

• Up to one carat: top-quality natural gems can sell for an average of $1,818 per carat.
• From one to 1.99 carat: top-quality natural gems can sell for an average of $6,667 per carat

Is there such a thing as synthetic alexandrite?

Yes. Lab-created alexandrite has existed since the 1960s. These synthetic stones have chemical and physical properties identical to those of natural alexandrites. While much less expensive than natural stones, they remain among the most costly synthetic gemstones available.

What determines the value of an alexandrite?

Two primary factors determine alexandrite's value:

• The closeness of its colors to pure green and pure red
• The distinctness and completeness of its color change