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Tanzanite is relatively new to the colored stone galaxy. This transparent blue/purple gem first turned up in 1962, scattered on the Earth's surface in the Meralani (Merelani) Hills (Merelani) of northern Tanzania near the city of Arusha, in eastern Africa. Scientists identified it as a variety of the mineral zoisite. About five years later, a prospector discovered a large deposit of it in the same area, and serious mining began.
Tiffany & Company recognized its potential as an international seller and made a deal to become its main distributor. Tiffany named the gem after the country it came from, and promoted it with a big publicity campaign in 1968. Almost overnight, tanzanite was popular with leading jewelry designers and other gem professionals, as well as with customers who had an eye for beautiful and unusual gems.
Tanzania remain the only country of the gem source.
Tanzanite Pricing
Tanzanite's public recognition and popularity have grown steadily for the past years.
Predominately blue tanzanite is generally worth more per carat, but because of the way tanzanite crystals grow,
a cutter can usually get a bigger stone by orienting the gem to show the purple color. With small rough, size is
normally the main consideration. While the trade considers the pure blue stones to be the "top" grade, some customers actually prefer the lighter and more purplish colors.
The price of Investment Grade Tanzanite during the period 2003 to 2006 saw a jump in price of over 40% and since January 2007 has seen a further 50% rise in price.
With the current supply of Tanzanite being 'controlled' by the mine owners, prices are expected to continue to increase over time. In fact, many projections indicate that some day Tanzanite could be the most expensive gemstone on earth.
The opportunity exists today to purchase Tanzanite relatively inexpensively even at $600 to $700 per carat.
However consumers can now generally expect to pay between US$500 and US$2000/carat for good quality Tanzanite. Indeed, the rich and famous in the US are flaunting their Tanzanite jewellery. Film stars like Salma Hayek, Elle MacPherson and Teri Hatcher are all wearing it. Indeed, Tanzanite is already a darling of the US market, where it sells at prices as high as $2,000 to $3,500 a carat. (Source: The Hindustan Times,12/23/2007)
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