Spinel – A Gem Worth Remembering

Identity Crisis

Despite their long history, spinels have long lingered in the shadows of more celebrated gems.  Often dubbed the “great imposter,” these stones were frequently mistaken for rubies, their uncanny similarity leading to centuries of misidentification. Even royal collections weren’t immune to this gemological deception—the famous “Timur Ruby’—also known as the Balas Ruby in the British Crown Jewels, long believed to be a ruby, was ultimately revealed as a magnificent spinel from Tajikistan. This historical case of mistaken identity not only highlights the stone’s remarkable resemblance to rubies but also underscores how spinels were systematically undervalued and overlooked by gem experts and collectors alike. 

Unlike more heavily marketed gemstones like rubies, sapphires and diamonds, spinel didn’t have the same established reputation, which kept it out of the spotlight. In recent years, spinels have gained well-deserved recognition as gemmologists have clarified their distinction from rubies and sapphires. 

Unheated Spinels: The Underrated Gemstone You Need to Know

Most spinels on the market are unheated and prized for their naturally vivid colours and exceptional clarity without needing enhancement. This purity is one of the reasons why unheated spinels are so highly valued for their natural beauty and authenticity. 

Joseph Belmont of KV Gems recognised their potential early on. In 1989, the company were among the first to source spinels from Vietnam, particularly the rare cobalt blue and pastel varieties. “Our commitment to offering beautiful untreated natural stones led us to invest in these exceptional stones, even when they were lesser-known and underappreciated in the market,” he says.

Adding to their allure, rough spinels naturally form in an octahedral crystal structure, reminiscent of a diamond’s elegant symmetry. Under the microscope, unheated spinels reveal another fascinating feature—rows of octahedral crystals, a signature of their untouched origins and a testament to their remarkable formation. These delicate inclusions, often visible only under magnification, offer a glimpse into the spinel’s raw beauty. Specialising in sourcing loupe-clean spinels, KV Gems ensures that only the purest examples are selected. It is only through careful magnification that one can detect the subtle octahedral inclusions, which serve as crucial indicators of whether a spinel has been heat-treated.

Spinel’s Rise to Prominence

The growing trend towards unique and individualistic jewellery has catapulted lesser-known, high-quality gemstones like spinels into the spotlight. As consumers increasingly seek personal and distinctive pieces, spinel has emerged as a captivating alternative to traditional options—offering collectors and jewellery lovers a unique expression of individual style. “Nowadays, people look to find more unique pieces, and having a spinel ring instead of a diamond ring is just that much more interesting,” says Maria Belmont, Director of KV Gems.

Top-grade red spinels can command top prices on par with unheated rubies, marking a significant shift in the gemstone market. For those seeking the same striking optical effect and fewer inclusions than a ruby, but at a more accessible price point, spinel offers an exceptional alternative. 

The surge in demand has caused prices for high-quality red spinels to skyrocket, with even lower-grade stones seeing noticeable price increases. Belmont explains that while Tanzanian spinels are more readily available, the issue of clarity remains a challenge. Despite this, the overall trend is clear—prices for spinels, particularly those with better clarity and colour, continue to climb, as more buyers recognise the stone’s potential.

Unique Traits 

With a robust hardness of 8 on the Mohs scale, spinels offer exceptional durability that makes them ideal for everyday wear. Their natural resistance to standardisation—rarely conforming to calibrated sizes—makes them challenging for mass production but perfect for bespoke, high-end jewellery. Each stone requires individual appreciation and setting, a quality that resonates with collectors who value uniqueness over uniformity.

Collectors and jewellers who once favoured rubies and sapphires are also turning to spinels for their distinct beauty and rarity. “Spinels are extremely rare,” Belmont explains. In Myanmar, spinel crystals are referred to as “nat thwe,” meaning “polished by the spirits,” due to their remarkable brilliance and shine. Belmont adds, “They share similar optical properties to diamonds—they are singly refractive and belong to the cubic crystal system, which means they achieve incredible brilliance. But unlike diamonds, they are significantly rarer, making them an exceptional choice for those seeking something truly distinctive.” 

Among the most sought-after spinels are the vibrant pink varieties hailing from Vietnam and Tanzania. These stones deliver extraordinary brilliance at a fraction of the cost of pink diamonds. When expertly cut, spinel exhibits a vitreous lustre and remarkable transparency, producing a vivid light performance that rivals even the most prized diamonds.

Another notable feature of spinel is its natural beauty. Unlike many gemstones that require extensive treatment, spinels typically undergo minimal to no heat enhancement, preserving their inherent beauty and authenticity. Their optical purity, with few inclusions even in larger specimens, further enhances their appeal.

Historical Significance 

The provenance and imperial history of spinel add another layer of allure. During the Mughal Empire, Tajikistan was renowned as a premier source of high-quality spinels. These stones, prized for their rich, vibrant colours—particularly their coveted pinkish hues—were integral to royal jewellery. Many historic spinels bear intricate calligraphic engravings, transforming them from mere gemstones into symbols of power and cultural sophistication.

This historical significance continues to influence the modern market. The Hope Spinel—a magnificent 50.13-carat specimen—achieved £962,500 ($1,464,661) at Bonhams in 2015, establishing an unprecedented auction record of $29,217 per carat. Meanwhile, contemporary jewellery houses continue to celebrate spinel’s extraordinary qualities, as exemplified by the ebullient Bvlgari Imperial necklace featuring a breathtaking 131.21-carat pinkish-red Tajikistan spinel.

The Electric Charm of Cobalt Spinels 

Cobalt spinels, small yet bursting with vibrant neon blue, first captured attention when they were discovered in Luc Yen, Vietnam. These rare gemstones are known for their striking colour and are notoriously difficult to find. Fine-quality cobalt spinels over one carat are exceptionally rare, and anything above two carats is a collector’s gem.

Recent discoveries of cobalt spinels in Mahenge, Tanzania,  have expanded the market supply, increasing their availability to collectors and designers. Tanzanian specimens typically display distinctive green and grey undertones, with some notable exceptions. While Tanzanian material often offers superior clarity, it rarely achieves the vibrant colour saturation of its Vietnamese counterparts. According to Belmont, Vietnamese cobalt spinels present a purer blue colouration, ranging from royal and cornflower blues to lighter azure hues, with the most coveted specimens exhibiting an electric neon blue. However, finding clean, inclusion-free examples of these prized neon blue Vietnamese spinels has become increasingly challenging in today’s market.

“All these specimens exhibit subtle colour shifts under different lighting conditions,” explains Joe Belmont. “Top-quality Vietnamese cobalt spinel has become exceptionally rare, with very few premium specimens emerging in the past two years.” 

The market has responded dramatically to this scarcity. According to Belmont, prices have tripled compared to just five years ago, while representing a fivefold increase from a decade earlier—a testament to the growing appreciation for these remarkable gems. 

The narrative of spinel is one of hidden potential gradually revealing itself—a gemstone emerging from the shadows of more famous stones to claim its rightful place in the pantheon of precious gems. Through its exceptional qualities, rich historical context, and inherent rarity, spinel has become not just an alternative to traditional choices, but a first choice for those who truly want something out of the ordinary.