Tanzanite is a rare and beautiful gemstone that is highly valued for its unique color and brilliance. It is a relatively new gemstone, having been discovered only in the 1960s, and has quickly become one of the most sought-after gemstones in the world. But why is tanzanite so expensive? In this article, we will explore the factors that contribute to the high cost of tanzanite, including its rarity, its unique color, and the difficulty of mining and processing the gemstone.
What is Tanzanite
Tanzanite is a blue to violet variety of the mineral zoisite, which was first discovered in the Merelani Hills of Tanzania in 1967. The gemstone is named after its country of origin, and is prized for its unique color, which ranges from blue to violet, with hints of purple and red. Tanzanite is a relatively soft gemstone, with a hardness of 6.5 to 7 on the Mohs scale, and is typically cut into faceted gemstones for use in jewelry.
Why is Tanzanite Expensive
Rarity
One of the main reasons why tanzanite is so expensive is its rarity. Tanzanite is found in only one place in the world, the Merelani Hills of Tanzania. The deposit is relatively small and is estimated to be depleted within the next 20-30 years. This makes tanzanite a rare gemstone, and its scarcity contributes to its high price.
Unique Color
Tanzanite is known for its unique blue-violet color, which is caused by the presence of vanadium and other trace elements. The color can range from pale blue to deep violet, and the most valuable tanzanite is a deep, rich blue with hints of purple. The color of tanzanite is highly sought after and contributes to its high price.
Difficulty of Mining and Processing
Mining tanzanite is a difficult and dangerous process. The gemstone is found in small pockets in the ground, and the mining process involves blasting and digging through hard rock. The rough tanzanite crystals must then be carefully extracted and transported to a processing facility, where they are cut and polished into gemstones. The difficulty of mining and processing tanzanite contributes to its high price.
Quality
The quality of tanzanite also affects its price. The most valuable tanzanite is transparent and free of inclusions or blemishes. The color should be even and saturated, with no zoning or color banding. The cut of the stone should be precise and maximize its brilliance and fire. High-quality tanzanite is rare and commands a premium price.
Market Demand
Finally, the high price of tanzanite is also influenced by market demand. Tanzanite is a popular gemstone for use in fine jewelry, particularly in engagement rings and other special occasion pieces. The demand for tanzanite is highest in the United States, followed by Europe and Asia. The high demand for tanzanite, combined with its rarity and unique color, drives up its price.
In addition to these factors, there are several other reasons why tanzanite is expensive:
Environmental Regulations
The Tanzanian government has strict environmental regulations in place to protect the environment and the workers involved in tanzanite mining. These regulations require mining companies to use environmentally responsible mining practices and to provide safe working conditions for their employees. The cost of complying with these regulations can be high, and this is reflected in the price of tanzanite.
Transportation Costs
Transporting tanzanite from the remote Merelani Hills to processing facilities and then to market can be expensive. The rough gemstones must be transported by truck to the nearest airport, and then flown to processing facilities in other countries. The processed gemstones must then be transported to jewelry manufacturers and retailers around the world. The cost of transportation is passed on to the consumer in the form of higher prices.
Branding and Marketing
Some jewelry companies have branded tanzanite as a high-end gemstone, and have marketed it as such. These companies may charge higher prices for their tanzanite jewelry than other companies, based on the perceived value of the brand. This type of branding and marketing can contribute to the high price of tanzanite.
Investment Value
Tanzanite is also considered a good investment by some collectors and investors. The rarity of the gemstone, combined with its beauty and popularity, makes it a desirable addition to a gemstone collection or investment portfolio. As with any investment, the value of tanzanite can fluctuate over time, but overall it has shown a steady increase in value over the years.
Labor Costs
The labor costs involved in mining, processing, and cutting tanzanite can also contribute to its high price. Skilled workers are needed to extract the rough crystals from the ground, and then to cut and polish the gemstones to maximize their beauty and value. The cost of labor is passed on to the consumer in the form of higher prices.
Conclusion
Tanzanite is an expensive gemstone that is highly valued for its rarity, unique color, and beauty. Its scarcity, difficulty of mining and processing, high quality standards, environmental regulations, transportation costs, branding and marketing, investment value, and labor costs all contribute to its high price. Despite its high cost, tanzanite remains a popular gemstone for use in fine jewelry, and its value is expected to continue to rise as the deposit in Tanzania becomes increasingly depleted.
Related topics:
