There are more than 3,000 kinds of minerals on Earth, but only around 70 of them can be turned into gemstones. In order to be considered a gemstone, the minerals must have 3 following attributes:
When we talk about Beauty, here are the things we need to consider
- Transparency - is the ability light can pass or transmitted through a stone
- Brilliancy - is determined by the way light is reflected within a stone
- Luster - is determined by the way light is reflected from its surface which is greater the harder the stone is
- Dispersion – ability to disperse light of different colors
- Color – a visual perception of the constituents into which white light can be separated. Also described by hue, saturation and tone.
Durability is important in the sense that it determines whether the mineral is a good fit to be turned into fine jewelry. Gemstones with high durability can be carried around, so they are suitable to be turned into personal adornment in the forms of rings, pendants, earrings, etc. Whereas for gemstones with low durability, they are not meant to be worn, but be stored and kept as collectibles.
Naturally, people tend to associate rarity with high value, and prefer to own rare objects. Consequently, rarity of the gemstone has a huge effect on its price. The rare gemstone might be similar to others in terms of beauty or color, but its rarity will do the trick on the gem’s price and drives up its demand. For example, Taafeite, which is purplish-red, is similar to Spinel in various aspects. However, because of its rarity, Taafeite commands a large premium over Spinel, and the market demand for Taafeite is very high.