Gem Pricing: Ruby and Sapphire Shortages Are Fueling Demand for Exotic Gem Materials

A shortage of extra-fine grade ruby and sapphire and their ensuing high prices have contributed to a sharp rise in demand for more exotic gems, some of which now are seeing a corresponding rise in prices. Although many of these varieties, like scapolite and sphene, remain affordable, prices are climbing sharply for some of the rarer varieties. Demand for fine Paraiba tourmaline from the original Brazilian source has pushed prices to levels inconceivable just a few years ago. In contrast, newer deposits of alexandrite have allowed this desirable phenomenal gem to gain broader market appeal.One
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