Today’s blog will be short. I have a huge queue of projects lined up that need my attention, and never enough time to do everything I want to do (hint hint: GIA GG).
Over the years I have gained a reputation for being someone who loves spinel. It’s true, I do. Which is evidenced by my spinel engagement ring, and maintaining a pretty decent personal collection of spinels. And not only that, but somehow people who discover gray spinel typically find me as well.
Side note: It’s funny, but when you start google image searching “gray spinel” several of the pictures I have taken over the years are top results.
Now, it was just last month that AGTA and JA declared spinel an alternative birthstone for August, but already the price for spinel has absolutely sky rocketed. Two months ago I could buy spinel on the retail market for cheaper than the new wholesale prices for spinel. This is especially evident with pinks and reds (as they are always the ones to jump in price first!) but it has even trickled down to the gray spinels.
Once upon a time, you could buy gray spinel for $5/ct, if that. Dealers and miners were just thrilled to sell them for something – they were once considered a step above gravel. But now, I am seeing prices that are more than triple of the prices seen just a few months ago. Retail pricing on darker spinels over 2cts is currently clocking in at around $900/ct. And that’s when you can find them!
So, the point of this post is that if you are in the market for a spinel, of any color, you should buy sooner rather than later. These prices are going to go way up, and I doubt that we will ever see them go back down now that spinel has been introduced to the public eye.
The Gemstone Project 