Named Colombian emerald sales run from about $4,600 to about $305,000 per carat. GemGuide puts upper-fine 2 to 3 carat Colombian stones at $5,500 to $7,000 per carat. The record belongs to the 18.04 ct Rockefeller Emerald, sold at Christie's New York in 2017.
Updated November 7, 2026. These are public results for specific stones, so read them as reference points and not as a price list.
TL;DR
Emerald prices depend on color, treatment, origin and size, and the range is very wide.
The ring prices below include the mounting and any diamonds, and some carry a famous signature.
GemGuide's ranges change heavily with the type of treatment, according to JCK.
Rough emerald is a separate market, with Gemfields averages of $9.72 and $146.08 per carat in 2026.
Emerald Price Per Carat: Public Results
Stone and sale | Total | Per carat |
|---|---|---|
18.04 ct Rockefeller Emerald. Christie's New York, June 2017 | $5.5M | About $305,000 |
10.68 ct Colombian, ring. Sotheby's New York, 2018 | $1.2M | $113,764 |
About 5.20 ct Colombian, minor enhancement, ring. Bonhams Los Angeles, July 2023 | $44,800 | About $8,600 (our arithmetic) |
2.12 ct Colombian, minor enhancement, Tiffany ring. Bonhams New York, May 2019 | $13,825 | About $6,500 (our arithmetic) |
16.53 ct Colombian, minor enhancement, Verdura ring. Bonhams New York, May 2022 | $75,975 | About $4,600 (our arithmetic) |
The Bonhams totals include buyer's premium. The per-carat figures divide the whole lot by the emerald's weight, so they overstate the stone a little when diamonds and a mount are included.
A Trade Reference: GemGuide
Upper-fine, 2 to 3 ct | Per carat |
|---|---|
Colombian | $5,500 to $7,000 |
Zambian | $4,500 to $6,300 |
JCK reported these GemGuide figures in August 2026. It adds that the ranges are heavily modified by treatment, that Colombian stones carry a premium of roughly 14% at half a carat, and that the gap approaches 70% at 15 carats. Dealers told JCK the premium is steeper than the guide shows.
What Drives the Price of an Emerald?
Color comes first. GIA says the most desirable colors are bluish green to pure green with vivid saturation. Inclusions are normal in emerald, and dealers call them the jardin.
Treatment comes next. Our guide to Minor Oil Emerald explains F1, F2 and F3. We found no reliable public multiple for a no-oil stone, so we do not publish one.
Origin and size also count, as the GemGuide gap above shows. For more on the stone itself, see What Is Emerald?
Why Rough Prices Do Not Compare
Gemfields sold Kagem rough emerald at an average of $146.08 per carat for higher quality in May 2026, and $9.72 for commercial quality in September 2026. Those are averages for uncut stones across many lots. See Gemfields Auction Results.
How to Read an Emerald Quote
Ask for the treatment wording. Read the degree of clarity enhancement on the report.
Compare inside a size band. A 2 ct price and a 15 ct price are different markets.
Separate the stone from the jewel. A signed ring also pays for the mount and the name.
Check the date of the report. SSEF warned in June 2026 about emeralds refilled after testing. See How to Verify a Gem Lab Report.
FAQ
How much is an emerald worth per carat? Named Colombian sales here run from about $4,600 to about $305,000 per carat, and GemGuide puts upper-fine 2 to 3 ct Colombian stones at $5,500 to $7,000. The figure depends on the stone.
What is the most expensive emerald per carat? The 18.04 ct Rockefeller Emerald, at about $305,000 per carat at Christie's New York in 2017, was reported as a per-carat record at the time. We have not seen a higher public result, though we cannot rule one out.
Are Colombian emeralds more expensive than Zambian? In GemGuide's figures reported by JCK, yes, and the gap widens with size.
Is emerald a good investment? We do not give investment advice. A few auction results do not establish a reliable return.
Useful Sources
Carat Brief is editorial and is not investment advice. Get sourced gem prices, free, every Tuesday.