One of nature’s rarest gemstones is alexandrite, a fascinating gemstone that changes color from blue-green in daylight to plum red in candlelight and incandescent light. This chameleon-like effect is related to the gemstone’s pleochroism (meaning it shows different hues when viewed from different angles) and its unusual light-absorbing properties.

Minerals are often named after their discoverers or gemologists who have made significant contributions to the field. But this chromium-containing chrysoberyl variety is named after 16-year-old Tsar Alexander (Tsarevich Alexander), heir to the Russian throne in the 1800s.

Although there is a great deal of controversy about who and when it was discovered, E.V. Burlakov, a researcher at the Russian Academy of Sciences, believes that credit goes to Yakov Kokovin, the manager of the mine in the 19th century. According to Burlakov, Kokov discovered these unusual gemstones in 1831 in an emerald mine in the Ural Mountains near the Tokovaya River. Kokovin first thought they were emeralds, saw them turn from green in daylight to plum red in the firelight, and realized that they were different materials. Later, Count Lev Perovsky, a famous Russian nobleman, obtained some new gems and sent them for analysis, which determined that they were a new form of chrysoberyl. In order to curry favor with the royal family, Perovsky named the gem “Alexandria Amorphite” and presented it to the future Tsar Alexander II on the day he came of age.

Continental Drift

In 1898, the London jeweler Edwin Streeter wrote in his book Gems that alexandrite of the highest quality was produced in the Ural Mountains, but in small quantities, and that the main supply was Sri Lanka. Even so, the stones are “not far enough,” he said, adding that, unlike Russian stones, Sri Lankan specimens are green in daylight but brownish-red in incandescent light.

In 1987, alexandrite was discovered in the Brazilian state of Minas Gerais, and the state has since become an important source. Although the color change of this material is sometimes not as noticeable as that of some of the more elaborate Russian alexandrites, it is still very noticeable.

Edward Boehm, owner of RareSource, a Tennessee-based gem dealer, says the main sources of alexandrite today are Sri Lanka, Brazil, India, Tanzania and Madagascar. “There are also new materials from Zimbabwe that have strong color variations, but tend to be included,” he said, adding that alexandrite is often untreated.

“Color change is the most important factor in determining value, followed by clarity,” explains Niveet Nagpal, owner and designer of California-based brand Omi Privé, which uses alexandrite in some of the brand’s jewelry collections. “The place of origin is also an important factor, Russian products are the rarest and most expensive,” and Brazilian products are also very expensive.

In terms of demand, “ultrafine alexandrite remains strong, with [commodities] from Brazil, India and Tanzania being more popular than the typical brownish-red to olive emerald from Sri Lanka,” said Jeffery Bergman, founder of the Thai company. Eighth Dimensional Gem. He reports that most of the new products from Russia are under 2 carats, and while there are some excellent color-changing products, they are rarely eye-clean.

Gemologist Alexey Burlakov, son of EV Burlakov, says that since today’s demand far exceeds the limited supply of alexandrite in Russia, such gemstones are mainly sold on the secondary market

Bergman agrees: “The demand for top-quality ancient Russian alexandrite has prompted some dealers to source in the real estate jewelry market in Japan, where some top-quality gemstones ranging from 1 to nearly 2 carats have emerged.”

Boehm is convinced that the real estate market has become a good source of the few Russian alexandrites one can find, with prices starting at $35,000 per carat and gemstones over 3 carats costing well above $100,000 per carat. He reported that Brazilian specimens vary in color from blue-green to purplish-red and are less expensive; A good material of 1 to 2 carats typically costs $10,000 to $20,000 per carat, while gemstones of 2 to 3 carats cost $15,000 to $35,000 per carat. Larger sizes up to 5 carats can cost anywhere from $35,000 to $50,000 per carat. Sri Lanka, India and Africa produce more affordable goods, as well as gemstones over 5 carats, “but the color change is not as intense,” Boehm said.

The Effects of the War

Boehm said the war in Ukraine had “no direct impact” on supply due to minimal production in Russia over the last century and the fact that most of the Russian alexandrite came from the real estate market. Alexey Burlakov and Nagpal share this view. Nonetheless, Boehm acknowledges that “the increase in fuel costs [due to the war] has affected all gem-producing countries, making it more expensive to mine with heavy machinery, thus exacerbating the shortage of all gemstone supplies worldwide.”

Synthetic Aesthetics

Due to the beauty, rarity, price, and demand for alexandrite (especially the larger size and higher quality), laboratories are always looking for ways to grow specimens that have the same physical and chemical properties as natural alexandrite. In 1972, California-based Chatham Gems announced the successful creation of alexandrites using the flux method. The method involves dissolving mineral components, in this case mainly beryllium and alumina, in a solvent at high temperatures, and then subjecting the mixture to a temperature gradient that causes the minerals to crystallize onto the seeds. According to Tom Chatham, the company’s CEO, the growth process takes about eight months.

“Alexandrite has been our best-selling product for over 40 years,” he says. “The public, especially those who want a June birthstone, is very receptive to lab-grown gemstones because of the huge price difference with natural alexandrite. Our cut gemstones retail for $400 or more, not thousands. He added that lab-grown gemstones exhibit the same color variation as natural alexandrite.

Susan Eisen Fine Jewelry of Texas-based retailer Susan Eisen Fine Jewelry has seen the success of lab-grown alexandrite jewelry. “Due to the high demand for our June birthstone, lab-grown alexandrite is the best and often the only option for customers who don’t want pearls (the second June birthstone). They appreciate the beauty and color variation of alexandrite, but cannot afford natural gemstones.”

Regardless of origin, alexandrite is one of nature’s most fascinating gemstones and continues to fascinate jewelry consumers and collectors.