A 5 carat alexandrite stone weighs around 1 gms (0.9 gms for ratti) and is one of the most precious stones in the world belonging to the Chrysoberyl family that has a sharp color-changing effect. This makes them look like a green emerald stone in the day and turn into a red ruby gem at night. The 5 carat alexandrite price is high because of this effect which is rare to find and generally ranges between INR 1 Lakh to 10 lakh ($3,620.08-$12,067.02) depending on color, clarity, cut, origin, and also the intensity of the color-changing effect, apart from the weight. The cost is even higher if they have a chatoyancy effect similar to that of Cats Eye stone.