The price history of tanzanite has seen many sharp rises and falls. These price changes have been related to the limited number of mines and the limited geographic location of the world’s tanzanite resource. Decisions and regulations of the Tanzanian government can have an immediate impact on the availability and price of the entire world’s supply.

Tanzanite does not have the price insulation enjoyed by gems that are mined in multiple countries and on different continents. Events such as floods or mining challenges also have an immediate impact upon supply and price.

Illegal mining and smuggling have also moved the price of tanzanite. In 2012 and 2013 large numbers of illegal miners entered the tanzanite mining areas and began to aggressively mine the easy-to-access areas. This occurred at a height of tanzanite prices. They then dumped a flood of illegal production into the market, causing a sharp decline in tanzanite prices during the following two years.

When prices change, commercial-grade gems usually experience the greatest price instability. These are the most abundant grades of tanzanite where price competition is highest. Top-quality stones, especially those in larger sizes, are very rare. As a general rule, they tend to retain their value in down markets and increase in value in rising markets.