The most sensational feature about this stone, however, is its surprising ability to change its colour. Green or bluish-green in daylight, alexandrite turns a soft shade of red, purplish-red or raspberry red in incandescent light. This unique optical characteristic makes it one of the most valuable gemstones of all, especially in fine qualities.. . Alexandrite is very scarce: this is due to its chemical composition. It is basically a chrysoberyl, a mineral consisting of colourless or yellow transparent chrysoberyl, chrysoberyl cat’s eye and colour-changing alexandrite (also in cat’s eye varieties). It differs from other chrysoberyls in that it not only contains iron and titanium, but also chromium as a major impurity. And it is this very element which accounts for the spectacular colour change. Rarely, vanadium may also play a part. According to CIBJO nomenclature, only chrysoberyls displaying a distinct change of colour may be termed alexandrite.