Is Australian opal rare? While silica is one of the most common minerals on the planet (the mineral that opals are predominantly made up of), precious opal is very rare – far more rare than diamonds.
Australian Opal Value Per Carat
Because there are so many opal fields in Australia, there really is no singular form of opal. This means that opal costs can vary from about $10 per carat to approximately $6,000 per carat.
Australian opal is considered to be the most valuable of all types of opal thanks to its captivating play-of-colour, beautiful patterning and superior quality. It's ethically mined too.
Much of the world's precious opal is mined in the harsh outback of Australia, where a unique combination of geological conditions permitted the formation of opal near the margins of an ancient inland sea. Australia is regarded as the world's leading source of opal and of the world's finest opal.
Black opals are the rarest variety of opal, with precious black opal being even harder to find. However, the highest-valued common opal color is the rare red opal. Orange, green, blue, and purple opals are next in line in terms of value.
Blue opals are usually very affordable. Its price range is typically from $1 – $250 per carat.
Pattern every opal has its own unique pattern. The brighter and more distinct the pattern of an opal the greater its value. Some defined patterns are exceedingly rare and fetch high prices. Colour type and range – the more colours present in the stone the greater its value.
The most valuable and popular of all Opals is Black Opal. Black Opal accounts for around 5% and is found at Lightning Ridge in Northern NSW.
The “Olympic Australis” is reported to be the largest and most valuable gem opal ever found. It was found in 1956 at the famous “Eight Mile” opal field in Coober Pedy, South Australia. A miner working his claim found the opal at a depth of 30 feet.
With a long term view, opals can be seen as really great investments. If you look at the last 50 years of black opals, they have steadily increased over time. We have never seen a decrease in value in gem quality black opals.
Precious opal is defined as opaline silica with a play of colour. The term, play of colour was created solely to describe opal's beautiful shifting of spectral hues. Australian opal is referred to as “sedimentary opal” because it is hosted predominantly by sedimentary rocks of the Mesozoic Great Artesian Basin.
World's Most Valuable Gem
is actually 5000 times rarer than diamond. Opal is a diminishing resource and there is anecdotal evidence that suggests an increase of up to 25% per annum in boulder Opal prices and 15% per annum increases in white, crystal, and black Opal.
White opals have a light body tone and are generally the least valuable form of opal. The term crystal opal refers to the 'diaphaneity' (transparency) of an opal, not its crystal structure, and is defined as any type of opal which is translucent to transparent.
It is estimated only around 1-3% of Australian opals crack but some opal fields are more susceptible than others. Most Australian Opals contain 3-5% water. Generally the deeper the miner digs the more water content the Opal will have.
It is known to possess the virtues of all the gemstones on the spectrum of colours that it displays. The Opal gemstone is particularly favourable for the Taurus (Vrish) and Libra (Tula) zodiac signs. It bestows beauty, confidence, good health, opulence, and love on the wearer.
Among the variety of different patterns found in Australian opal stones is the most rare and expensive harlequin pattern.
In summary; Black opals are the 'Rolls Royce' of opals, and often have a certain price attachment associated with their status and rarity. Black opals are generally considered to be the best in the world due to their dark body tone.
The variety of types of opal means the cost can vary from about $10 per carat to approximately $6,000 per carat. At $1 million, the 'Virgin Rainbow Opal' is the world's most valuable Australian opal. It was discovered in 2003 by miner John Dunstan in Coober Pedy of Southern Australia.
Hydrophane opals have the ability to absorb water or liquids, similar to a sponge, resulting in a change of color that may turn the opal translucent yellow or brown and the play-of-color to disappear temporarily. Don't panic though! The color will return once the opal is fully and naturally air-dried.
Heat, humidity, sweat and contact in water can make the amount of water in opals fluctuate. When this happens or when your opal pendant loses or gains water, its colour changes.
To start, look at the opal closely and examine its color, pattern, and brilliance. Real opals should have a uniform body color, often with a bright fire or play of color that flashes as it moves in the light. The opal colors can range from pale pink to vibrant blues and greens.
Australian opal is highly prized, rare and the best quality opal in the world. Opal is considered a safe investment because the material has never dipped in value and has only ever increased due to the demand of the world market and jewellery production.
The most valuable Opal, Black Opal, ranges from $50 per carat to $10,000 per carat. Alternatively, White Opal is relatively common and ranges from $10 per carat to $150. Other opal types, such as fire, red, and blue, fall in the $10 to $500 per carat range.
Black opal is becoming increasingly scarce, due to the cost of mining and government legislation on small miners. Unlike the abundance of white diamonds found throughout the world, black opals are now considered one of the world's rarest gemstones.