Ask anyone what the world’s most expensive gemstone is, and they will almost certainly say “a diamond.” While it’s true that large, flawless colored diamonds can be the most expensive objects ever sold, the title of the world’s most expensive gemstone on a per-carat basis often goes to a different, much rarer material.
The value of any gemstone is a combination of its rarity, beauty (color, clarity, fire), and cultural demand. When you look beyond diamonds, you enter the world of truly scarce “collector’s gems.”
The Contenders
Red Diamonds: The first contender is, in fact, a diamond—but the rarest of them all. Red diamonds are so rare that only a handful are known to exist. The 5.11-carat Moussaieff Red Diamond, for example, is the largest “Fancy Red” diamond in the world and is considered priceless, with an estimated value well over $20 million.
Burmese “Pigeon’s Blood” Rubies: For centuries, the finest rubies from the Mogok Valley in Myanmar (Burma) have been the king of colored stones. A “Pigeon’s Blood” ruby is a stone with a pure, deep red color with a hint of blue. A high-quality, unheated Burmese ruby over 5 carats is exceptionally rare and can easily command higher prices per carat than a top-quality white diamond. The 25.59-carat “Sunrise Ruby” sold for $30.42 million in 2015.
Padparadscha Sapphires: These “lotus-colored” sapphires from Sri Lanka exhibit a an incredibly rare and delicate mix of pink and orange. A natural, unheated Padparadscha is one of the most sought-after and valuable gems in the world.
The Winner: Imperial Jadeite
On a per-carat basis, the single most valuable gemstone in the world is top-quality Imperial Jadeite.
It’s important to distinguish Jadeite from Nephrite—both are “jade,” but Jadeite is far rarer and more valuable. Found primarily in Myanmar, the finest Jadeite has a vivid, emerald-green color and a high degree of translucency, giving it a “glowing” quality.
In Chinese and other Asian cultures, Jadeite is considered “the stone of heaven,” a symbol of status, spirituality, and good fortune, making demand for it astronomically high.
While often sold in carvings or as cabochons, its value is best demonstrated by the Hutton-Mdivani Necklace. This Cartier necklace, made of 27 perfectly matched, highly translucent green Jadeite beads, sold at auction for a staggering $27.44 million in 2014. Given the weight of the beads, its per-carat value is astronomical, cementing Jadeite’s status as the true king of gemstones.
About Beverly Loan Company
At Beverly Loan Company, our GIA-certified gemologists are experts in valuing all precious gemstones. We understand the nuances that separate a fine ruby from a priceless “Pigeon’s Blood” and standard jade from investment-grade Imperial Jadeite. We offer confidential loans based on your asset’s true market value.