GEMSWORLD | 53 | 2024 SPOTLIGHT 市场聚焦 Baby pink spinel from Vietnam is likewise a crowd favourite, joining the ranks of reddish-pink or pinkish-red spinel stones that are enjoying strong market interest. Golokoz added, “People are drawn to pink because jewellery is primarily for women. These bright and attractive colours are especially attractive to the younger generation. Meanwhile, red is always king in the spinel world.” Mohamed Azharudeen Salahudeen of Star Lanka Co Ltd agreed, adding that buyers mainly ask for neon red or pink spinel. He described the post-Covid market as increasingly “colour conscious.” Consumer education plays a significant role in the changing landscape of the gemstone business as buyers have become more specific and sophisticated in their requirements, added Salahudeen. Premium neons hail mainly from the Mahenge mine, which is known to produce the most coveted red and pink spinel stones. Gems of value According to Salahudeen, a high-quality spinel from Mahenge could sell for anywhere between US$20,000 and US$100,000 a carat, depending on the clarity and colour of the gem. Golokoz of Vitalit explained that prices, while consistently on the rise, remain acceptable to buyers who are truly knowledgeable about the stone’s value. “Our prices are not cheap, but our customers are willing to pay a premium. They understand that it is a rare material,” she continued. “On average, per carat prices are about US$2,000 for a 1-carat to 2-carat stone. Bigger gems could go for about US$10,000 a carat.” Gaetano Savella, director at Claudia Hamann Edelstein GmbH, maintained that spinel prices are still affordable and would vary considering gem quality and colour intensity. For instance, a top-quality Burmese red spinel could have a price tag of about US$2,000 to US$2,500 per carat. While reds or pinks are highly favoured in the market, interest in other colours is also mounting. According to the Gemological Institute of America, spinel comes in a range of fascinating hues – from orange to intense “stoplight” red, vibrant pink, and all shades of purple, blue and violet to bluish green. “Cobalt blue and grey spinel have a solid following, too. I would say all spinel colours are in the limelight now,” noted Savella. “In terms of shapes and sizes, cushions and ovals are the most sought after in the trade.” An interesting development is the rising number of mainland Chinese customers asking for spinel. Savella remarked, “I used to sell spinel in the US and Europe. But now, China is also taking notice. This is quite interesting.” Salahudeen has the same observation, adding that Chinese buyers are actively seeking out spinel at international trade fairs. “They have become more educated about coloured gems. It is an evolving market. Their understanding of gems today compared to 10 years ago is astounding. They trade armed with the knowledge of what makes a stone special – the cut, colour and clarity. And they are ready to pay a premium for quality goods,” he said. Sparkling future Yousaf of Spinel House said the market’s growing penchant for rare gems will bolster demand for spinel amid continued price increases. She expects more markets such as the US to gradually discover spinel and its extensive range of colours. What makes spinel special is that it is fundamentally beautiful. It is clean, with a good lustre, and it is a natural stone that does not need treatment. - Mehreen Yousaf, business development manager at Spinel House Red spinel ring 红色尖晶石戒指
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