Before understanding the price range of opals, we need to understand what are the different qualities of opal available in the market and what factors really determine these qualities.
Broadly, opals are segregated into two main categories -
One is precious opals that show a play of color. Opals from Australia & Mexico like Black opals, Fire opals, White opals, Boulder opals & Crystal opals fall under the category of precious opals.
The other one is common opals which do not exhibit play-of-color but are still valued for their beautiful pastel shades. Opals predominantly from Peru & Oregon like Blue opals, Milk opals and Pink opals fall under the category of commons opals.
What determines the value of an opal?
Just like diamonds or any other gemstone, opals are graded based on four key factors—color, clarity, cut, and carat weight. These 4 C’s are essential for any buyer to know before making their purchase. Let’s have a deeper look.
1. Color : Color plays a very important role in determining opal values. Here’s what you should look for in opal’s case:
→ Play-of-Color: The more vibrant and varied the colors, the higher the value.
→ Background Color: The base color also called background on which the stone displays the play of color plays an important role. Usually black opals are valued the most, followed by white and then crystal opals.
→ Brightness: The intensity of the colors determines the opal’s appeal. Bright opals fetch higher prices.
2. Clarity : Generally opal doesn't come with inclusions.
→ However, since there are many different varieties of opal some types might come with inclusions such as cracks, sand or webbing. These inclusions generally tend to lower the value of an opal unless it’s an extraordinary piece that may result in an increased value than normal.
→ Boulder opal might come with natural inclusions and they are accepted as well because of the stone’s unique formation.
3. Cut : The cut of an opal plays an important role in deciding its price. Usually the round and oval cuts are most valuable and preferred. However, cuts are more of a personal preference and one should purchase what aligns with their demands.
Commonly, opals are available in -
- Cabochon Cut: Most opals are cut into smooth domes to enhance their play-of-color.
- Freeform Cut: Some opals are cut based on their natural shape to preserve maximum color.
- Faceted Cut: Rare but can add extra brilliance.
4. Carat Weight : Opals are measured in carats, but size isn’t as important as color and clarity. Large opals with vivid color are rare and expensive. However, a rich play of color is what adds life to an opal which is why one must put carat weight as the secondary characteristic when deciding to buy an opal.
What is a Fair Price for Different Opal Types?
Opal prices can vary drastically depending upon the color, intensity, size and origin. Wondering what is the price of opal across types? Check the table below for updated ranges.
Types of Opal with Characteristics & Price Range (Per Carat)
White Opal
▸ Milky body with soft, pastel-like play-of-color
▸ 💰 Price: $10 – $200
Black Opal
▸ Dark body tone with vivid, high-contrast fire
▸ 💰 Price: $1,000 – $15,000+
Crystal Opal
▸ Transparent with bright, floating color flashes
▸ 💰 Price: $100 – $1,500
Fire Opal (with color play)
▸ Warm-toned body with occasional vibrant play-of-color
▸ 💰 Price: $50 – $500
Boulder Opal
▸ Colorful opal veins with natural ironstone backing
▸ 💰 Price: $50 – $3,000+
Matrix Opal
▸ Opal specks fused within host rock (sandstone or ironstone)
▸ 💰 Price: $10 – $300
Pink Opal
▸ Soft pink, opaque, commonly from Peru
▸ 💰 Price: $1 – $25
Green Opal
▸ Mossy green with smooth texture and waxy luster
▸ 💰 Price: $2 – $30
Blue Opal
▸ Sky to aqua blue; opaque to translucent
▸ 💰 Price: $5 – $50
Yellow Opal
▸ Warm yellow tones; often translucent with a soft sheen
▸ 💰 Price: $2 – $20
Opalized Wood
▸ Fossilized wood replaced with opal; shows organic structure
▸ 💰 Price: $10 – $100
Ethiopian Opal
▸ Highly transparent with vivid play-of-color; hydrophane nature
▸ 💰 Price: $20 – $500+
Hydrophane Opal
▸ Water-absorbent; appearance changes when wet
▸ 💰 Price: $10 – $300+
Synthetic Opal
▸ Lab-grown with structured, repeated color patterns
▸ 💰 Price: $5 – $50
Australian Opal
▸ Premium quality, globally acclaimed; wide variety
▸ 💰 Price: $100 – $5,000+
Mexican Opal
▸ Found in volcanic rock; natural, rustic, and rare
▸ 💰 Price: $10 – $150