Why is rarity considered an important factor in determining whether a mineral is a gem?

Rarity plays a crucial role in determining the status of a mineral as a gem primarily because it directly influences market demand and value. When a gemstone is rare, it is typically more sought after by collectors, jewelers, and consumers, which can drive up its price. The perception of scarcity can enhance the desirability of the stone, making it more valuable in the eyes of buyers. This economic principle means that as the rarity of a gem increases, so does the interest among buyers, which can lead to higher valuation in the market.

This context is fundamental to understanding the gemstone market, as rarer stones often carry significant cultural, historical, and aesthetic appreciation that common stones do not possess. Therefore, the rarity of a mineral contributes not only to its classification as a gem but also affects its overall market dynamics and perceived value.