Top 10 Diamond Alternatives

From Least To
Most Expensive

Choosing a Unique Ring

When you think of your engagement ring, you probably picture a dazzling diamond atop a white or yellow gold band. But many modern brides-to-be are daring to be different with unconventional coloured gemstones. Discover the top 10 diamond alternatives here.


1. Tanzanite

Average Price Per Carat: $600-$1000 USD

Tanzanite is found in just one place on Earth, at the foot of Mount Kilimanjaro in Tanzania. Also called Zoisite, this mineral is reddish-brown in its raw state, but it's often heat-treated to turn the stone sapphire blue, amethyst or violet. Often paired with white diamonds, tanzanite is perfect for eye-catching engagement rings.

2. Aquamarine

Average Price Per Carat: $1,000 USD

In ancient times, people believed that aquamarines could calm waves, keep sailors safe and cure illnesses. Today's spell-binding aquamarine engagement rings include colours ranging from light green to deep sea blue.


3. Sapphire

Average Price Per Carat: $1,200-$2,000 USD

Mined in many countries scattered worldwide, sapphires are made from corundum, a form of aluminium oxide. Sapphires are the second most popular engagement ring stone after diamonds, and although we usually think of them being blue, they also come in stunning yellow, green, orange, pink and black.

4. Fire Opal

Average Price Per Carat: $2,300 USD

Most of the world's fire opals are found in Mexico, but they also originate in Australia, Brazil, Honduras and the United States. The translucent stones contain a rainbow of gorgeous colours, ranging from green and gold to red and yellow.


5. Ruby

Average Price Per Carat: $4,500 USD

The word 'ruby' comes from the Latin 'ruber', which means red, and they often chosen crown jewels. Perhaps this is because royals believed them to inspire love and protect against injuries in battle. Until the 1980s, most stones came from Australia, but they are now mined in many countries across Asia, Africa and Europe.

6. Musgravite

Average Price Per Carat: $6,000 USD

Here's another hometown favourite, first found in 1967 in the Musgraves Ranges in South Australia. Musgravite is now mined in other locations, including Antarctica, Madagascar, and Sri Lanka. For years, only eight musgravite stones were thought to exist. So if you like to pull out the stops, this precious gem is for you.


7. Bixbite (Red Beryl)

Average Price Per Carat: $10,000 USD

Red beryl ranges from strawberry, cherry, ruby and sometimes even orange. The only gem-quality Bixbite stones hail from Utah, USA, but some lower-quality gems have been found in Mexico and New Mexico. Most red beryl gemstones are under half a carat in weight.

8. Paraiba Tourmaline

Price Per Carat: $10,000 - $20,000 USD

Highly sought after due to their stunning blue tones, Paraiba tourmalines originate from Paraiba, Brazil, and Africa. The darker blue stones in Brazil fetch up to $20,000 per carat, and prices may rise significantly since mines haven't been able to keep up with demand!


9. Alexandrite

Average Price Per Carat: $12,000 USD

Until recently, Alexandrite had only been found in Russia. Today, it is mined in East Africa, Brazil and Sri Lanka. One of the most remarkable attributes of Alexandrite is its ability to change colour depending on the light. Sometimes referred to as 'an emerald by day, ruby by night,' Alexandrite will keep you guessing.

10. Emerald

Average Price Per Carat: $18,000 USD

Rarer than diamonds, emeralds are also more expensive than the same quality diamond. Their colouring ranges from green to blue-green. The darker the colour, the more expensive they are. Historically, emeralds have symbolised paradise and immortality, and today they're mined in Columbia, Brazil and Zambia.

How Do These Stones Compare with Diamonds?


Top-quality diamonds typically sell for $15,000 to $18,000, similar to Emeralds and Paraiba Tourmaline.


Diamonds are graded using the 4Cs and brilliance. Gemstones a judged on their colour, clarity and carat. 


Diamonds offer timeless quality. Gemstones bring a unique and personal appeal. 

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