Meteorites are gaining in popularity among collectors around the world, which is evident from the numerous web sites that exist to buy, sell or trade them. A key reason for this has been the success of the ‘Meteorite Hunter’ series, which is aired on the Discovery Channel. It is interesting to note that, in the USA, meteorites belong to the landowner and not the state, and that most major scientific discoveries with regard to meteorites have originated in the USA. There are now some 1,500 registered falls or finds of meteorites in the USA, which can be compared to South Africa, which has around 46, with a further 15 to 20 in Namibia. Lesotho has one fall and no finds; while Botswana has about 12 finds, of which nine are from a single expedition by a European team, who appear to have taken the stones out of the country, including the largest Lunar meteorite ever discovered. Its current whereabouts remain unknown.
One of the key factors driving the increase in meteorite collecting is undoubtedly the fact that they are potentially valuable, and some are increasing in value each year. Collecting meteorites is similar to treasure hunting – you never know what you may find and there is always a slim chance that you could discover something truly amazing, or something that is quite literally worth its weight in gold (or more). Meteorites can be a very good investment, with their value increasing at rates that would be the envy of any stockbroker. As with every commodity, however, one has to be selective about which meteorites to buy, and try to concentrate on stones that will provide not only an interesting display but also a good investment to the collector. When valuing meteorites, one must be careful not to accept without question whatever price some dealer posts on the internet. A meteorite is worth only as much as someone is willing to pay, regardless of the asking price.
An interesting development in the past few years has been the reduced stigma attached to meteorites from northwest Africa, which carry the ‘NWA’ tag. Previously, such meteorites were regarded as second-class citizens of the meteorite world and were an order of magnitude cheaper than similar stones found in the more popular locations, such as North America or Europe. This situation has changed, to a large extent, and many NWA meteorites are now highly prized by collectors and fetch top dollar.
How can we be sure that the HED meteorites come from Vesta?
For many years scientists postulated that the HED meteorites originated from Vesta. This was confirmed in July 2011 when the NASA Dawn spacecraft arrived at Vesta after a 2.8-billion-km trip from Earth. It remained in orbit around the asteroid for about a year recording scientific data, which it transmitted back to NASA for analysis. The results have verified without doubt that the HED meteorites come from Vesta.
The value of a meteorite depends to a large extent on its type, its pedigree and its availability. Most meteorites have increased significantly in value in the past few years, while the value of some has fallen due to an oversupply of material on the market. The USA remains the world’s main meteorite market, and it’s here that most dealers buy and sell their meteorites. Any meteorites that have fallen in the USA carry a premium, which can be significant. For example, a relatively common H5 or H6 meteorite from Morocco may be priced at $1/g or less, while a similar meteorite that was found in the USA can easily sell for $10/g and often much more, especially if it is a witnessed fall. There is no real reason for such a difference in price, except that collectors in a specific country like to buy meteorites from that country. In the USA, the demand for local meteorites far outstrips the supply and hence the price rises in accordance with normal market forces.
A frequently asked question about meteorites is ‘how much is it worth?’. Meteorites do not have any real intrinsic value (the scrap value of iron is quite low) but they clearly have value, both from a scientific and a collector’s perspective. Many people collect meteorites simply because they enjoy owning pieces of ‘space-rock’, and they have no intention of ever selling them. In other cases, however, collectors want to know that their collection is growing in value and, in such cases, it is important to be selective and to try and purchase meteorites that have a strong likelihood of appreciating in value. As with any collectable, it is important to buy the right piece at the right price and, with the advent of the internet, it is usually possible to gain some idea of the value of most meteorites.
It should be noted that prices quoted on the internet tend to be from dealers who ask top retail prices for their pieces. It is sometimes possible to shop around and find bargains, especially if one can get close to the source of a specific find or fall. In such cases, the asking price will generally be significantly lower than the typical internet price. Purchasing directly from Moroccan dealers at mineral shows, for example, is often a cost-effective approach, as long as you have a good idea of what you are buying, and the current asking price for the specific meteorite. Otherwise, you may find that you have paid even more than the internet price. It is therefore important to have some idea of what you should expect to pay for a specific meteorite before you try to haggle with some of the best hagglers in the world.
Registered meteorites, which have already been classified, tend to be more expensive than similar meteorites that have not been classified, as the classification process provides meteorites with a ‘pedigree’. It is possible to buy an unclassified meteorite at a reduced price and then pay to have it classified, after which it can often be sold for significantly more than the purchase price. Classification can usually be undertaken by an academic institution that has the equipment and expertise to analyse and classify a new meteorite. There will normally be a cost associated with such a request and it will take between a week and a few months to complete.
The following valuations for a few of the more popular meteorites are based on the experience of the author and may well be outside the range of prices being asked by dealers and collectors on the internet. The suggested prices are, however, considered realistic for 2013, based on recent purchases made by the author.
Sharon Cisemos
Complete 980g Murchison meteorite from Australia
Some of the best investments in meteorites over the past 10 years have been carbonaceous chondrites, most notably the Allende from Mexico and the Murchison from Australia. A well prepared slice of Allende was available for under $5/g in the early 2000s and increased in value to between $12 and $20/g, depending on size and quality, by 2013. Similarly, the Murchison (see page 103), which was readily available in the early 2000s at $50/g, was being sold in 2013 at up to $200/g – three times the price of gold!
It is not necessary to collect only expensive meteorites; some of the less expensive and more common specimens can also be very good investments. Even the humble Gibeon (see page 89), which was readily available at $50/kg in the late 1980s, has increased in value to around $300/kg for ‘lumpy’ specimens and over $700/kg for well shaped ones in 2013. Unusual shapes or pieces with holes in them can fetch significantly more and tend not to be priced strictly in accordance with their weight, although weight is always part of the price calculation.
The key to investing in meteorites is to look for those with a good pedigree that are stable and do not rust easily (in the case of irons and stony-irons). In the case of stones, some of the carbonaceous chondrites and well crusted ordinary chondrites from a publicised, witnessed fall tend to grow in value. ‘Rusters’ tend not to hold their value and should be avoided as they are difficult to sell or trade once they have started showing signs of rust; in spite of which, the common Campo del Cielo from Argentina seems to be the exception that proves the rule. This particular iron meteorite, which is known to experience rusting problems, has appreciated in price by almost 300% in the space of eight years: less than 10% of the price of the Gibeon irons in 2005, it was almost 50% of the Gibeon price in 2013.
Bruce Cairncross
A well etched slice of Seymchan iron of 1,535g; 280mm × 190mm
Unfortunately, like shares, meteorites can decrease in value as well as increase. The recent Martian meteorite from Tissint (see page 116) in Morocco initially entered the market in 2010 at more than $700/g and fell quickly to approximately half the starting price as more material was found and, for a short period, supply exceeded demand. The price, however, soon recovered, as the significance of this unique fall came to be appreciated by collectors around the world and the demand increased significantly. Specimens of this classic meteorite are again being sold above the $800/g mark and the price seems likely to increase in years to come.
Stony-irons tend to be among the most popular meteorites due to their unusual appearance and beauty. There have been some great investment pieces among them and some really poor ones. The Brahin pallasite from Belarus, for example, has a habit of rusting and, in the opinion of the author, should be avoided unless the seller is able to demonstrate that the slice being sold has been stabilised and will not rust. On the other hand, and again in the opinion of the author, the Seymchan from Russia offers great value as it is one of the cheapest pallasites available and does not rust easily. Although Seymchan (see page 106) is officially classified as a pallasite, it is also available as iron-nickel slices with no olivine/peridot. Such slices are significantly cheaper than the pallasite slices and often in the same price bracket as Gibeon or Muonionalusta slices. They have one of the most impressive Widmanstatten patterns of any iron meteorite, and a well etched slice of Seymchan is hard to beat. Seymchan pallasite slices can range significantly in quality from those that are almost completely iron-nickel with only small patches of opaque brown olivine, to slices with bright yellow/green, gem-quality peridot, which are as spectacular as some of the ‘blue-chip’ pallasites like Esquel and Imilac. A top-end Seymchan pallasite slice will often be priced at less than half the asking price of the low-end Imilac and Esquel slices and, in the view of the author, offers excellent value for money.
The Muonionalusta iron meteorite from Sweden (see page 100) was considered rare and relatively expensive in the late 1990s and early 2000s. This meteorite is almost indistinguishable from Gibeon when cut, and was originally fetching between $3/g and $6/g due to its rarity. Through the efforts of a particularly industrious meteorite hunter, Thomas Oosterberg, the Muonionalusta meteorite was ‘rediscovered’ and many large pieces were recovered from the strewn field. Other professional meteorite hunters joined the search and a large quantity of new material suddenly flooded the market, causing the price to tumble. Today, the Muonionalusta is readily available at a reasonable price and is generally cheaper than the Gibeon, which it has in many respects replaced. It has a striking Widmanstatten pattern similar to, but often crisper than, the Gibeon and is therefore also used to make jewellery. The only disadvantage of the Muonionalusta is that some pieces have deep cracks that tend to rust, although others are as stable as the Gibeon and do not rust easily.
For current retail prices on many of the more popular meteorites, the collector can refer to an annual meteorite price report, which can be obtained for a nominal fee from its author Kevin Kichinka, who can be contacted at marsrox@gmail.com. While the prices of meteorites for sale can, in some cases, vary significantly from those offered on the internet by dealers, or those offered at mineral shows or directly from finders, they do provide a useful guide to average prices that one can expect to pay for specific meteorites. The report also provides an opinion on meteorite prices, based on Mr Kichinka’s insight into the global meteorite market, and is well worth obtaining – especially if you plan to haggle with the Moroccan dealers. Forewarned is forearmed!
Bruce Cairncross
Author with some specimens from his collection