What Makes A Gemstone Rare?

Pictured above are fine Colombian emeralds both in their rough (behind) and polished (front) forms.

The rarity of a gemstone is not solely determined by its beauty or value, but rather by the availability of the gem in the market. Many individuals are astonished to discover that the most expensive gemstone might not be the rarest one. Instead, rarity is largely influenced by the limited supply and production of the gem. Some of the world's most scarce gemstones may not possess the dazzling brilliance that one would expect, but they become highly sought after due to their infrequent occurrence in nature. The scarcity of gemstones is primarily driven by the number of active mines and their production levels. Consequently, gemstones found in only a handful of locations, with limited mining operations, are often deemed the most valuable and treasured by collectors and connoisseurs, even if their visual allure may not rival more common and dazzling gems.

Despite their widespread association with rarity and exclusivity, diamonds are not actually the most rare gemstones in the world. While they are undoubtedly valuable and highly prized, diamonds are relatively abundant compared to some other gem varieties. Diamonds can be found in multiple locations worldwide, and large-scale mining operations have contributed to a steady supply of these precious gems. However, the diamond industry has carefully managed their availability to maintain a perception of scarcity and to uphold their high market value. On the other hand, certain gemstones like Paraiba tourmaline, alexandrite, and red beryl are far scarcer, with only a handful of known deposits and limited production. These exceptional gemstones, due to their extreme rarity and stunning beauty, command astronomical prices and captivate the imagination of collectors and gem enthusiasts around the globe.