Scarce neon: The remains of the mined-out Paraiba tourmalines are being sold at auction at Phillips (3 photos)

Phillips auction house in New York held another legal bid to extort money from millionaires, with five rare Paraiba tourmalines, valued at over $1 million, the main object of desire. The highest-priced lot of the evening was a ring with a massive 31.77-carat stone from Mozambique, for which organizers reasonably expected to fetch up to $650,000. Such astronomical prices are explained by a simple shortage: this unique neon blue-green mineral was discovered in Brazil only in 1989, and the original mines were emptied by the voracious jewelry market in just a few years. Genuine, pure Brazilian Paraiba is now considered extinct and resides exclusively in the vaults of private collectors, which is why the pendant featuring the original 5.86-carat stone, which was put up for auction, caused particular excitement among the elite. The planet's richest people are forced to pay fortunes for the privilege of owning the remaining crumbs of the Earth's depleted crust, while investors rub their hands in glee as prices soar.