Something is considered expensive when it is rare, beautiful, and in demand. Other items command extreme prices not because of beauty, but because of scarcity, complexity, or the risks involved in producing, trading, or possessing them.
Below are some striking comparisons that place gemstones — particularly diamonds — into a broader global context of value.
Everyday Luxury & Illicit Comparisons (per gram)
- Saffron – ± $11 per gram
- Beluga caviar – ± $30 per gram
- Gold – ± $48 per gram
- Rhino horn – ± $100 per gram
- Cocaine – ± $140 per gram
- LSD – ± $2,500 per gram
- Plutonium – ± $3,900 per gram
Rare Gemstones
Gemstones derive their value from a combination of rarity, beauty, durability, and human desire. Some are so scarce that only a handful of specimens exist worldwide.
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Painite – ± $8,500 per gram
A borate mineral ranging from orange-red to brownish red, found primarily in Myanmar. Fewer than 30 known crystals were recorded for many years. -
Red Beryl – ± $9,000 per gram
An exceptionally rare gemstone found mainly in Utah and New Mexico. -
Taaffeite – ± $20,000 per gram
First identified in 1945 in a jeweller’s shop in Dublin. Fewer than a dozen gem-quality stones are known, typically ranging from 0.02ct to 1.0ct.
Coloured Diamonds
When rarity, natural colour, and demand converge, diamonds occupy a category of their own.
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Blue Diamond – ± $13 million per gram
A 5ct Fancy Vivid Blue step-cut diamond sold at Sotheby’s for approximately $13 million — equating to roughly $13 million per gram (about R240 million per gram at the time). -
Pink Diamond – ± $13.2 million per gram
The 19ct Fancy Vivid Pink diamond known as The Pink Legacy was acquired by Harry Winston in 2018 for US$50.2 million.
Rare Elements
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Californium – ± $27 million per gram
A radioactive element not found in nature, first synthesised in 1950 at the University of California, Berkeley. Its value is driven by extreme scarcity and the complexity of production.
While many substances command high prices for reasons ranging from illegality to industrial application, gemstones — particularly natural diamonds — remain unique. They combine rarity, beauty, emotional significance, and permanence in a way few materials on Earth can match.