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Opal price graphs and tabulations
We keep a close watch on the opal price and project this with graphs and tabulations so that you can get a clear view on it, too.
Black opal is one of the most common materials that we know the price of. It also is available in the colors black, red, yellow, green and opaque. The price is variable up to €3880 per carat.
It is a raw material that normally only is seen in small amounts, for example in jewelry. Especially the elite wear this, because it is a very costly stone.
It is difficult to decide a set price, because it is not really traded at the stock exchange.
The most expensive opal in its true form that has been sold cost 1.75 million euro and had 17.250 carats.
There are dozens of kinds of opal and there exist in many color variants, but also different colors in a stone.
Usually you pay even more for it, because the jeweler of course needs to sharpen the rough opal and create the specific measurements so that it fits in the jewelry. This makes the price of one carat go up to over €10.000, depending on the rarity.
How do we calculate the opal price?
The opal price is based on the amount that is found in a year, but also based on the demand. Usually, the demand is more than the demand, because it is one of the rarest precious stones in the world.
Over 90% of the opals are found in Australia. On a small scale they also appear in, for example, Brazil, Mexico and Ethiopia.
The color of an opal comes from the rain. It is scientifically proven that every opal consists of a minimum of 20% of water.
A lot of people also keep the opal under water regularly, to maintain its shiny features. It has never been proven that this is actually necessary or more superstition.
Nowadays the offer of black opals is greater than white opals. A couple years ago, white was still one of the most common opals. The reason for this change in the market we do not know.
Production countries of opal
The largest production country of opal has to be Australia. They have been known for opals for hundreds of years, because they exist freely in nature.
We do see that Brazil has been increasing their production as well in the last couple of years. This happened because it has been found a lot more in the nature side of the country.
There are places in Mexico and Ethiopia where this precious stone can be found, but only in very small numbers.
Facts about the raw material opal
1: Opal is one of the few precious stones that appears in many different colors. Usually, in one stone a lot of multiple colors are apparent.
2: Opal, despite its hardness, is a very sensitive precious stone. They are very bad to handle sudden pressure.
3: In Japan, a lot of synthetic opals are made, but this can in no way be compared to the original raw material, if you know a bit about it.
4: It is unclear when this raw material was exactly discovered. We do know that it appears in drawing that date back to years before Christ.
5: The precious opal originates from Slovakia, but has been found for decades in Australia.
6: The majority of opals are used for jewelry.
7: Opal is very difficult to cut and that is why the prices of jewelry with opals in them are very high. It is the softest precious stone in the world that is very sensitive when you put pressure on it.
8: Storing opals in the family is a useful investment. This raw material is not produced a lot and every year we see the price per carat go up.
9: In Australia, opals are called the national precious stone, because they see it as their local treasure.
10: Opals contain about 20% water.
Where can you buy opals?
Opals can be bought mostly at the larger jewelers. But there are a couple of stores that sell precious stones and have opals in their assortment. This is very rare, because it is a very precious item, of course.
At what exchange are opals traded?
The opal price, in contrary to other raw materials, is not traded at any stock exchange. It is a raw material is that appears mostly in forms of stones and jewelry.
There are guiding prices that cost anywhere from 3000 to 4000 euro per carat. But it can be that the jewelry goes up to 10.000 euro or more per carat. This happens, because the shaping of opal is very difficult, because of its sensitivity to pressure. This costs a lot of time and that is something you pay for as a consumer.
Whether opal ever will be traded at the exchange is unclear. It is a raw material that has been seen as an investment for decades by a lot of people.
Through the years it has become more and more expensive. This is an obvious one, because it is a limited resource in the world. A normal person does not have the money to buy them, which is why Australians call it their national treasure.
Is there a lot of demand for opal?
It depends on the moment whether there is a lot of demand for opal and if the people are able to buy it. This is because it is a very pricey item. The rich people on the planet flaunt their opals for hundreds of years for a reason. They are often looking for more jewelry, but it is hard to actually get it.
The future of this raw material
The opal price is expected to be rising the coming years, still. Just like rhodium, you can see that more people see it as a true investment. The last decade the price also went up by a lot, so they are not completely wrong to do so. But it is not traded in exchanges and you can often see it only at jewelers or auction houses.