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Originally posted by Did you just call me Coltrane?
Which gemstones are truly rare and/or are priced according to efficient supply/demand market conditions?
My best friend's GF told me (I'm sure as a hint) that she does NOT want a diamond, but would prefer a different stone...
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As far as I know, only diamonds are subject to hoarding and price fixing. But other subjective factors make gemstone pricing less than efficient. For example, a few years ago one of the few Tanzanite mines got flooded. Prices went nuts as people speculated on how long it would be until they were able to mine again, etc. As it was tanzanites had gone from "huh" to must have by virtue of being promoted on QVC/Home Shopping.
For an engagement ring, stone hardness is important. Diamonds are a 10 on the Mohs scale. Their durability is part of the appeal as an engagement ring stone -- it will hold up to daily wear through a 50+ year marriage. Rubies and sapphires are a 9 in hardness so they're pretty durable. I wouldn't call them "truly rare" but good color and quality, nice sized stones don't fall off the truck every day. Emeralds are softer, only a 7, and have internal flaws that can cause them to shatter. An emerald engagement ring setting would need to be designed to protect the stone.
Ruby or sapphire would be my call for a non-diamond engagement ring or emerald if she adores them but your friend would have to be careful with the setting or it won't hold up. Sapphires come in a wide range of colors (blue, green, yellow, pink, purple, orange) if she doesn't like blue.
