With their vibrant neon-blue to green hues, Paraiba tourmalines are not for wallflowers. They call for red-carpet outings and confident wearers. They’re not for the faint of heart when it comes to pricing, either. This Brazilian gem, which appeared on the market at the end of the 1980s, has grown exponentially in value.
“In the 20 years that I’ve been working with Paraibas, they went from anonymity to one of the most coveted gemstones in the world,” says US-based Graziela Kaufman, who also hails from Brazil. The creative director of jewelry brand Graziela was an early adopter of Paraiba tourmaline and has incorporated it in her jewels, which often adorn celebrities. “Their price range is really wide. They can go from $1,500 per carat to over $100,000 per carat.”
Copper tops
While the stone’s initial discovery was in the Brazilian state of Paraiba, there have been deposits found in Mozambique and Nigeria in the past two decades. These African varieties are known as cuprian tourmalines — a reference to their copper content, which is responsible for the gem’s distinct color.
“It is now accepted that ‘Paraiba tourmaline’ refers to elbaite tourmalines that get their coloration from copper, regardless of their geographic origins,” explains Benoit Repellin, worldwide head of jewelry at auction house Phillips. “Nonetheless, Brazilian Paraiba tourmalines remain the most sought-after ones. Last October, we sold a 7.04-carat Brazilian Paraiba tourmaline in Hong Kong with no indications of heating and clarity modification for over $26,700 per carat.”
Other recent top auction lots include a 5.44-carat, heated Brazilian Paraiba on a ring that Bonhams New York sold in September for $533,900 — over $98,100 per carat — and a necklace with a 3.39-carat Paraiba that reached $373,000, or $110,029 per carat, at Christie’s Hong Kong in May.
Purview of the rich
Despite good supply from sources other than Brazil, serious collectors and buyers are mainly interested in the most electric version of the stone, says Caroline Morrissey, director and head of jewelry at Bonhams New York.
Demand from the Asian market is the strongest, she adds. “[Asian collectors] are constantly searching for high-quality material and are not shy to bid aggressively on top stones. With that said, the world is becoming ever more global, and the performance of our Paraibas in our recent single-owner sale [in New York] proves that it is not only Asian buyers who are in the market for rare stones.”
Paraiba’s main customer base is the wealthy, observes Antwerp-based jewelry designer and rare-gem collector Jochen Leën. Paraibas “are seen as an attractive investment; they are out of this world to wear, and their unique color makes them desirable for high-end jewelry.”
The stone is still novel for the general public, so the demand is more moderate in that demographic than among luxury consumers, comments Leon Megé, owner of the eponymous retail showroom and workshop in New York.
“Gem-grade Brazilian Paraibas and some notable African gems are bought mainly by collectors and investors in anticipation of the dwindling supply, which is bound to happen,” he says.
Eddie LeVian approves of this approach. “The rise in pricing seems to be supported by high-net-worth individuals taking an investment point of view due to the rarity of the gemstone,” says the Le Vian CEO, whose company features Paraibas in its jewelry.
The rise of Africa
Savvy dealers invested early in Brazilian Paraibas and have been the ones supplying the market throughout the years, Kaufman notes. “It’s very difficult to mine that blue neon color that we all want right now. You mostly find green and purple materials.”
Sourcing is the biggest challenge the industry faces. The Brazilian stones are scarce in all sizes, as the indigenous production is nearly exhausted. The available sizes are most suitable for melee; stones over 2 carats are exceptionally rare, according to experts.
The Brazilian material usually has inclusions and displays the highly sought-after neon blue-green colors, says Raphael Gübelin, CEO at jewelry and gem house Gübelin. “Eye-clean stones are occasionally found, but due to slow production, sourcing them can be time-consuming, with rarity and quality strongly reflected in their prices.”
Mozambique has become the major supplier of the gem, with production available in a broader range of qualities and sizes. Some stones reach up to 100 carats. Many Mozambican goods “can rival some of the better material coming from Brazil,” says Gübelin. “They vary in quality, from included to eye-clean stones with bright and intense colors. However, the majority of the goods have a lower saturation and are more highly included.”
Prices for Mozambique stones range from $2,000 to $25,000 per carat. When Sotheby’s announced it would sell the 93.94-carat Blue Lagoon Paraiba tourmaline at its Magnificent Jewels and Noble Jewels auction in November 2023, the estimate was between $1.3 million and $2.5 million — some $13,800 to $26,600 per carat — for the Mozambican stone, which came in a diamond necklace by Adler Joailliers. The jewel was ultimately withdrawn from the sale, but the estimate was a good indicator of the sharp price difference between Brazilian and African specimens.
As for the quality of the Nigerian stones, “it’s comparable to that of Mozambique, exhibiting similar variations in color brightness and clarity,” Gübelin says. However, the output is small, he notes, and prices are the lowest in the market, reflecting a lack of enthusiasm for the provenance.
Treatment warnings
Another serious issue for Paraiba trading is the increased use of treatments, warns Josh Saltzman, logistics and regional manager and head of Asia sales at gemstone company Nomad’s.
“While heat is expected and accepted in the market for Paraibas, now clarity enhancement has become more common,” he elaborates. “We always have to check at the labs for fissure-filling with oil or resin before buying any Paraiba.”
Buyers should be cautious and ask for certified stones, advises Kevin Ferreira, coauthor of Paraiba: The Legacy of Color (see box). Common imitations for Paraibas include apatite, aquamarine and topaz, but a gold tester such as an XRF machine can detect the presence of copper in the genuine gems.
On the bright side, he notes, labs have not yet synthesized Paraiba tourmaline, which makes it attractive for consumers seeking natural stones — another selling point for a gem whose meteoric rise already appears unstoppable.
Main image: Model wearing a Jochen Leën brooch with Paraiba tourmalines, meteorites and diamonds. (Jochen Leën)
