Spinel · Price Guide
Spinel Price Guide (2026)
Spinel pricing is driven mainly by color quality rather than treatment status, since the stone is almost always natural and untreated — vivid red, hot pink (Mahenge), and rare cobalt-blue material command significantly more than the more muted grayish-red or purplish tones common at the affordable end.
Indicative price bands
| Quality tier | Typical range |
|---|---|
| Commercial (muted grayish-red or purplish tone) | ₹4,000 – ₹12,000 per carat |
| Good (solid red or pink, eye-clean) | ₹12,000 – ₹35,000 per carat |
| Fine (vivid red or Mahenge hot pink) | ₹35,000 – ₹90,000 per carat |
| Collector (rare cobalt-blue or exceptional Burmese red) | ₹90,000+ per carat |
Indicative starting points for loose, certified natural spinel in the Indian market — the specific stone's color, clarity, cut, and certificate determine the final price. Request a quote for an exact figure against a documented stone.
See how to judge quality for yourself in our Spinel buying guide, and how we verify every certificate on our Spinel certification page.
Common Spinel Price Questions
Why is 'Mahenge' spinel specifically valuable?
It refers to a vivid hot-pink spinel from Tanzania's Mahenge region that's become highly sought after by collectors for its saturated color, commanding prices well above more muted pink or grayish-red spinel.
See Current Spinel Listings
Browse certified natural spinel in our catalog, or reach out for anything specific.