Just imagine about a gemstone with a play of colors so rare and mesmerizing that a single carat sometimes can command more than a diamond—its swirling colors shifting like captured galaxies, each flash a whisper of fire and mystery. Unlike any other gem, opals don’t rely on facets to shine; instead, they glow with an inner fire, a phenomenon called “play-of-color” caused by microscopic silica spheres diffracting light into every hue imaginable. While most opals grace jewelry boxes and collectors’ shelves, a select few transcend mere adornment—becoming legendary treasures worth millions.
List of Most Expensive Opals
The Olympic Australis
The Olympic Australis Opal is one of the world’s most valuable opals, worth around $2.5 million. It’s famous not only for its massive size but also for its exceptional quality and stunning colors. The stone glows with vivid shades of blue, green, and flashes of red that make it truly mesmerizing.
Discovered in 1956 in Coober Pedy, Australia, this opal weighs an incredible 17,000 carats, making it one of the largest and most perfect opals ever found. It was named “Olympic Australis” after the Olympic Games held in Melbourne the same year, symbolizing excellence and unmatched beauty.
What makes this gemstone so special is its vibrant play of colors that shine like a rainbow. Its rarity, dazzling appearance, and connection to history make it a true masterpiece and a prized possession among collectors around the world.
The Flame Queen Opal
The Flame Queen is one of the rarest black opals ever found. It was unearthed in the early 1900s at Bald Hill in Australia—home to many of the world’s opal mines—though the exact year of its discovery isn’t certain. This striking “nobby” opal weighs 261 carats and is known for its vivid red flashes and greenish-blue outer rim.
In 1980, Christie’s auctioned the Flame Queen for $1 million—a record at the time, equivalent to about $3.6 million in today’s money. After the sale, it was displayed at the Gemological Institute until 1981.
Decades later, in 2008, the opal stone price was reached to $120,000 in an auction in Los Angeles, after fierce bidding. Most recently, in 2020, it fetched $87,500 at a Christie’s Magnificent Jewels sale in New York City.
The Halley’s Comet Black Opal
Named for the famous comet, the Halley’s Comet Black Opal is as rare and stunning as the cosmic event itself, carrying a price of $1.2 million. Its beauty lies in an incredible mix of colors, flashing everything from brilliant reds to deep blues.
This special gem was found in Lightning Ridge, Australia, a place famous for its opals. It stands out because of its intense colors and its large size—two things that are very hard to find in a single black opal. These features, along with the magical feeling of its name, are why it’s so valuable.
People who love gems don’t just want it for its looks. They are also drawn to what it represents: a once-in-a-lifetime kind of beauty. The incredible skill needed to cut and polish the raw stone into such a dazzling jewel is what makes it one of the world’s most prized—and expensive—opals.
The Virgin Rainbow
What sets the Virgin Rainbow apart is its amazing color show. It flashes every shade of the rainbow, with bright reds and soft greens standing out the most. Light bounces inside it like a real rainbow caught in rock.
Dug up in Coober Pedy, South Australia—a place famous for top-notch opals—this scintillating australian opal gem shines as one of the area’s best finds. Its rare mix of vivid, shifting colors makes it a true wonder. Collectors everywhere dream of owning this natural masterpiece.
The Andamooka Opal
The Andamooka Opal, gifted to Queen Elizabeth II in 1954 during her visit to Australia, is one of the country’s most celebrated gemstones. Set beautifully in a diamond-studded necklace, this opal captures attention with its radiant flashes of red, blue, and green — the signature colors of a premium black opal.
Mined from the Andamooka region in South Australia, the stone reflects the nation’s rich opal heritage and natural brilliance. Its vivid play of color and royal association make it not only a symbol of elegance and prestige but also a timeless piece of Australia’s gem history.
The Pride of Australia
Discovered in 1915 at Lightning Ridge by Tom Urwin and Snowy Brown, the 225-carat opal known as the Pride of Australia (or Red Emperor) is famous for its distinct appearance. It boasts brilliant red streaks against a backdrop of black and blue veins, and its shape is reminiscent of the Australian continent. In terms of value, the opal was estimated at USD$2,500 in 1931. Years later, in the 1950s, D. Hubert Eaton—the President and Founder of the Forest Lawn Memorial Park—acquired it for a reported $150,000 euro, which is equal to about USD$1.9 million today (2024).
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The Aurora Australis Opal
The majestic Aurora Australis Opal is one of the world’s most valuable opals, with an estimated worth of $653,000. Found in 1938 in Lightning Ridge, Australia—a region famous for top-quality black opals—this gem stands out for its size, vivid colors, and dramatic play of light.
Weighing 180 carats, the opal showcases a dazzling mix of deep blues, greens, fiery oranges, and reds. Its bold, geometric “harlequin” pattern and intense color flashes resemble the shimmering Southern Lights, which inspired its name.
What makes the Aurora Australis truly special is the rare combination of its rich hues, exceptional pattern, and historical importance. Carefully cut to highlight its natural brilliance, it’s considered a masterpiece of nature—and a prized treasure for collectors worldwide.
The Galaxy Opal
This remarkable opal was unearthed in Brazil during the 1970s. Weighing an impressive 3,749 carats, it holds the title as the largest black opal ever discovered outside of Australia. Its name comes from its stunning appearance, which is often compared to the swirling, multi-colored clouds of a distant galaxy.
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