Alexandrite is one of the rarest and most fascinating gemstones in the world, renowned for its remarkable color change—appearing green in daylight and red in incandescent light. Often described as “Emerald by day, Ruby by night,” Alexandrite’s rarity, historical significance, and striking optical properties make it one of the most coveted gemstones. 2024 was important year for Alexandrite as it broke a record in the Sotheby’s December Auction.

This guide summarizes Alexandrite’s history, formation, color properties, rarity, and valuation factors, giving insight into why this gemstone holds such a special place in the gem world. For a more comprehensive insight, please refer to our Alexandrite Guide.

1. What Is Alexandrite?

‍

‍

Alexandrite is a variety of Chrysoberyl that exhibits a dramatic color change due to the presence of chromium and vanadium and other impurities in its crystal structure. This unique interaction with light allows Alexandrite to shift from bluish-green/Green/ and other green varities in natural daylight to purplish-red-pink in incandescent lighting. As a rule of thumb, you always need to see Green in the daylight color!

Origins & History

• Discovered in 1830 in Russia’s Ural Mountains by Finnish mineralogist Nils Gustaf Nordenskjold. Some theories suggest that it was Y.A. Kokovin.

• Named after Tsar Alexander II, as the gem’s colors—green and red—were symbolic of Imperial Russia.

• Initially believed to exist only in Russia, but later deposits were found in Sri Lanka, Brazil, India, Madagascar, and Tanzania.

• Tiffany & Co. played a major role in popularizing Alexandrite in fine jewelry.

2. What Makes Alexandrite So Rare?

‍

Alexandrite is rarer than diamonds, and top-quality stones are almost impossible to find. Its rarity is due to the unusual geological conditions needed for formation:

• Beryllium (Be) and Chromium (Cr) must be present together—a highly rare combination in nature.

• It forms under specific temperature and pressure conditions, further limiting its occurrence.

• Most deposits have been depleted, making high-quality Alexandrite incredibly scarce.

‍

💎 Comparison to Other Gems:

‍

• Unlike other color-change gems, Alexandrite shifts completely across the color spectrum rather than just a slight hue change.

• Some Chrysoberyls exhibit color shift but lack the distinctive transofrmation, making them just Chrysoberyl, and not true Alexandrite.

3. Alexandrite’s Color & Quality Factors

‍

A. Color Change: The Key to Value

• The more dramatic the shift, the higher the value.

• Quality Alexandrite can range from a 80-100% color change (Strong) to 60-80% Color Change (medium)

• The best stones will have a readily apparent color change from fluorescent light into incandescent light.

B. Hue & Saturation

• Russian Alexandrites: Are scarce but are usually found in muddy and heavily included qualtities, which are still rare. Clean material is extraordinarily rare.

• Brazilian Alexandrites: Typically teal-green to violet-red/purple. Many gemstones available in the market have over color. Which means the daylight green has too much blue and non-existent green. Overly dark material should be avoided.

• Sri Lankan Alexandrites: Olive-green to brownish-red, generally lower saturation. Sri Lankans often refer to this as “Tea” Color.  

• Tanzanian Alexandrites: Strong crystal structure, emerald-green to reddish-purple, sometimes showing dual colors in mixed lighting.

At any given deposit or mine regardless of country, there is always a potential to find a top color alexandrite with the right stroke of luck!

4. Alexandrite’s Clarity, Cut & Carat Weight

‍

A. Clarity

• Eye-clean stones are extremely rare.

B. Cut

• Most Alexandrites are cut into oval and cushion cuts with less-than-ideal proportions to retain as much carat weight as possible. Fancy shapes are uncommon.

C. Carat Weight & Pricing

• Most Alexandrites are under 1 carat—larger stones are exponentially more valuable.

• Price per carat can reach up:

• Up to 1 carat: $15,000+ per carat for fine quality

• Over 1 carat: $50,000–$70,000 per carat

• Over 5 carats: Ultra-rare, often museum-level gems

These prices are retail and are not for commercial material.

5. Synthetics & Market Considerations

‍

A. Lab-Grown Alexandrite

• First synthesized in the 1960s, lab Alexandrites are chemically identical but lack the rarity of natural stones.

B. Lookalikes & Simulants

• Some sapphires and garnets show color change, but only Chrysoberyl-based Alexandrite is the real thing.

• Fake Alexandrites (synthetic corundum or spinel with color-change coatings) are common—buyers should insist on a gem lab certification.

6. How to Buy & Care for Alexandrite

‍

A. Buying Tips

✔ Always check color change under multiple light sources.
✔ Insist on a gemological report from a trusted lab (e.g., GIA).

B. Cleaning & Care

• Durability: 8.5 on the Mohs scale—strong enough for daily wear.

• Cleaning: Use warm, soapy water and a soft brush.

• Avoid: Harsh chemicals, ultrasonic cleaners, and sudden temperature changes.

Final Thoughts: Why Alexandrite Remains the King of Color Change Gems

Alexandrite’s unparalleled rarity, stunning optical properties, and rich history make it a collector’s dream and an investment-grade gemstone. As natural deposits dwindle, prices continue to rise, and demand remains strong among connoisseurs.

If you’re looking to add one of the world’s most magical and exclusive gemstones to your collection, true Alexandrite is an unbeatable choice.

📢 Looking for high-quality Alexandrite? Browse our rare collection of natural Alexandrites today!

‍