Rocks On: Moonstone’s rising star

willing to spend more, and also has negated any effects that an increased supply would’ve had on the market price.

Zahm said he believes that another force behind it might also be a movement from retailers to start selling more colored stones, both as a way to make money, with profit margins on diamonds down, and to set themselves apart from the competition.

But, even as prices increase, the demand for moonstone continues.

“It really is the time for moonstone, based on what we’ve seen over the last two years and what we expect for the next two,” said Paul Dragone of gem trader Boston Gems.

According to Dragone, African material is readily available these days in both calibrated sizes as well as well as free-form larger pieces.

The rainbow moonstones and those with the blue sheen currently are among the most valuable in the market. This is what many people today are looking to buy, but prices of the exceptionally clean moonstone with the blue sheen has gone up around 25 percent in recent years, he said.

He added that the, “Indian colored moonstone too is selling as briskly as the rare rainbow labradorite these days.” Ceylon moonstone, meanwhile, hasn’t been on the market in some 20 to 30 years, so what available is material that is being reused and recycled.

Dragone has a contact searching in Tanzania for new sources of moonstone, a contact that has so far been unlucky in his hunt.

The price is right
At the recent AGTA GemFair in Tucson, Boston Gems was offering moonstone mostly ranging in price from as low to $3 a carat to up to $25 to $30 a carat and saw activity at all price points.

Dragone said he is even seeing buying and selling reaching the $600-per-carat level. “All areas appear to be selling,” with buying coming from both designers and brands as well as large U.S. retail clients.

He also noted that he had a large parcel, around 350 carats, of new material from Madagascar which got “tremendous” response at the show.

Though Dragone has sent a sample to the Gemological Institute of America and suspects that it will technically be classified as a rainbow labradorite, the stone exhibits adularescence similar to moonstone but offering new shades of reds, oranges and blues.

Whether it turns out to be moonstone or rainbow labradorite, the response at the show just goes to show that the shine of these stones isn’t going out of style any time soon.

While the small sizes of certain types of moonstone might be more affordable, the bigger pieces tend to be much more expensive, not only because of size but also due to the rarity in finding larger stones, especially if they’re clean.

Looking ahead
Like many other colored stones, moonstone stands to benefit from consumers looking beyond the traditional precious gems like sapphire, rubies and emeralds, expanding their fashion jewelry collection into new areas.

It also benefits from an unique quality--each moonstone is different from the next, with adularescence varying from stone to stone and different colors displayed every time, speaking to the desires of today’s consumers for uniqueness.

“It’s flexible and takes on different personality depending on what color gold it’s set in, or what stones are set with it,” said designer Candice Pool of Finn. “For example, a moonstone cabochon set in yellow gold is bohemian, a moonstone cabochon set in rose gold is feminine and innocent, and a moonstone set in white gold is elegant.”

With moonstone available at so many varying price points, it also offers a true chance for most everyone to own a piece of jewelry set with the gem.

The challenges it faces stem mostly from the question of its availability.

This is a story that is common with most gemstones on the market and, indeed, one that has been highlighted in every other installment of Rocks On so far: the decreasing quantities of high-quality stones and the question of where the next big source will be to supply the market.

“If it’s available in three to four years, I think that moonstone will be very strong in both the U.S. and abroad. It’s such a classic stone,” Dragone said.