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Pink Star Diamond

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TYRONE SIU/Reuters/Corbis

Let’s say you’ve got an extra $80 million or so burning a hole in your pocket. What would you spend it on? Would a single – admittedly beautiful – diamond ever catch your eye?

The Pink Star Diamond is a “Fancy Vivid Pink” diamond that was mined in 1999 in South Africa. Weighing in at 59.6 carats, this gem was sold by Sotheby’s for a record $83 million: more than any other diamond – or any gem – ever sold.

Composition: Carbon | Market Value: $83,187,381, or about $1,395,761 per carat

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In the 1950s, minerologist Arthur C.D. Paine encountered an unusual brownish stone in Myanmar (Burma) that turned out to be one of the planet’s rarest gems. For decades, only two cut specimens were known to exist, causing the jewel to be more or less “priceless.”

In recent years, a few more crystals have been found. If you’re lucky enough to find one on the market, expect to pay $50,000 to $60,000 per carat for this orange- to red-brown gem.

Composition: Calcium, Zirconium, Boron, Aluminum, Oxygen

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Another precious stone in the same family as Taaffeite, this stone’s color ranges from a brilliant greenish gray to purple. Musgravite was discovered in 1967 in the Musgrave Range of Southern Australia, and for many years there were only eight known specimens.

Recently, small quantities of Musgravite have been located in Greenland, Antarctica, Sri Lanka, Madagascar and Tanzania. Don’t let this new “surplus” fool you, though: this incredibly hard stone is still exceedingly rare, fetching $35,000 – or more – per carat.

Composition: Magnesium, Beryllium, Aluminum, Zinc, Iron, Oxygen

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Jadeite may sound like the various semi-precious stones known informally as “jade,” but this incredibly rare gem is many times more valuable. Prized most when it is colored a deep, translucent green, Jadeite is mainly found in limited quantities in Myanmar.

In 1997, Christie’s auction house sold a Jadeite necklace for nearly $10 million. The highest quality “Imperial” Jadeite can sell for millions of dollars per carat when cut and polished. Sadly, many traders have passed off color-treated stones as true Jadeite.

Composition: Sodium, Aluminum, Iron, Silicon, Oxygen

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Named for Tsar Alexander II of Russia, this exceedingly rare gemstone was thought to be mined out after the original deposits, found in 1830 in Russia’s Ural Mountains, were nearly exhausted.

Alexandrite is a color-changing gemstone: its hue shifts from red to green depending on the light it’s exposed to.

Recent finds in Brazil, East Africa and Sri Lanka have brought this stone back on the market, but it is still one of the world’s most coveted stones.

Composition: Beryllium, Aluminum, Oxygen

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Scarlet Emerald or bixbite, Red Beryl

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Also called Scarlet Emerald or bixbite, Red Beryl has only been found in Utah and New Mexico and the only commercial mine is found in the Wah Wah Mountains of Utah.

Red Beryl has been described as 1,000 times more valuable than gold: cut stones regularly sell for more than $2,000 per carat – and as much as $10,000 per carat.

Composition: Beryllium, Aluminum, Silicon, Oxygen