Why Is It So Expensive?
It’s a eye-catching stone that often gets a universal response at the jewelry counter – Wow, that’s beautiful! and Wow, that’s expensive! The general (incorrect) assumption is that diamonds are the rarest and most expensive gem so tanzanite jewelry tends to elicit quite a lot of sticker shock. Let’s look at why this colored gemstone is so pricey.
What is Tanzanite?
Though it likely formed around 580 million years ago, tanzanite is a relatively new addition to the jewelry world. It was only discovered in the 1960’s and has only been found at its original location near Mt. Kilimanjaro in Tanzania. This is rare among gemstones, most of which have multiple deposits located in different countries, often on different continents. Tiffany and Co named the stone after its country of origin after obtaining distribution rights after its discovery.
Tanzanite’s Unique Colors
Tanzanite is pleochroic zoisite, showing three different colors when viewed from different directions. These shades vary from a soft blue, cool violet, to a rich purple depending on the angle, light, and cut of the gem. Unlike other gems, the cut of the stone is a big factor in the color reflected. While paler shades are the most common on the gem market, it is the deep blue-violet that fetches the higher prices. Most tanzanites today have their color enhanced by heating. Its rated a 6.5-7 on the Mohs hardness scale. Interestingly, tanzanite has never been able to be synthesized ( grown in a lab), though there are fake tanzanites on the market.
Tanzanite is an alternative to the blue topaz as the December birthstone. It is believed to invoke protection, safety and attract abundance.
Why Is It So Expensive?
It is expensive due to its rarity. It is only mined in one place and that place is vulnerable to changing political and societal upheaval, as well as environmental factors such as flooding, which destabilizes the supply chain. Because of the individual uniqueness of the stone’s geology, there is little hope of it being discovered in any other region. Current estimates project that supply will be exhausted in 30 years, so in years to come, expect Tanzanite to become even more valuable. In 2020, the two largest tanzanite stones on record were found, weighting 11 and 20 pounds and were sold to the Tanzania government for $3 million.
*Please note that all metaphysical/ healing properties are for informational/entertainment purposes and do not constitute advice or recommendation concerning the treatment of physical, mental, or emotional medical conditions. The Jewelry Junket does not guarantee the validity of any of such statements.
Top Photo Credit:Gemologos2009, CC BY 3.0 https://creativecommons.org/licenses/by/3.0, via Wikimedia Commons
