Experts say that this previously overlooked gemstone is rocketing in desirability and value, as collectors look beyond the so-called “Big Four’” (diamonds, emeralds, rubies and sapphires) for more affordable, niche gemstones that may just be a shrewd investment. “Spinels and Paraiba tourmalines have seen a steady increase in demand over the last decade.”Boghossian's paraiba and diamond set features paraibas and fancy yellow diamonds. Experts posit that only one Paraiba tourmaline is mined for every 10,000 diamonds — and while similar hues are found in Madagascar, the scarcity of Brazilian stones has seen prices soar. At Bonhams, Tonkin said prices for top-quality Paraiba tourmalines reached $75,000 per carat in 2022, compared with $4,800 per carat in 2009. “These incredibly vibrant, clean gemstones really stirred something in me,” she explained in an email.

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