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I don't know much about the naturally occuring stone but I came across a website when looking for cheap CZ (to help me decide what size moissy to buy) and they have lab created alexandrite.
Here's the link: http://www.diamondcz.co.uk/gem.php5?level=3&expand=Oval&first=Created@Alexandrite&second=Oval
There's also photos, and videos of the stones changing colour.
Hope this helps! 
I have one but it is synthetic. The natural occuring ones are rare and expensive. I thik it would be a realy great stone for an engagement ring. sometimes yoou can find them in estate jewelry. Here are some prices for unset stones. I do not know anything about this dealer, just offering as a reference http://www.alexandrite.net/gemstones/natural-alexandrite-round-1-19-faceted_yax508aa/5157/10/0
I have a ring and earrings set that has natural alexandrite in it. I inherrited it from my grandma who, in turn inherrited it from her mom (my mom doesn't wear earrings and the ring doesn't fit her so we skipped a generation!). The set is very simple - pretty much studs for the earrings but on a lever back and a solitare ring. It's an antique from imperial russia. The stones aren't huge - maybe a carrat each. The set was appraised at something around $35000 (yes... that's 5 figures). I'm sorry I don't have pictures, the set is in a safety deposit box.
To answer your questions:
1. See above. :)
2. There are a few websites that are reputable (I'll find some for you later today). Another option is to go to a local jeweler and ask him/her to find a suitable stone for you. A third option still is to go to a Gem show - you're not guaranteed that they'll have anything but at least you'll get to meet a bunch of reputable jewelers who may be able to do something for you.
3. It's certainly a pretty stone and mine has withstood the test of time. It's from the same family of stones as Sapphires (barryls) so it will be about the same hardness. It is a bit "tough" to work with from a jeweler standpoint because high heat will damage the ston'e color changing ability (which is why we can never really get the ring I have reset or resized). So, as long as you're getting a solitareish stone from a jeweler who knows how to work with alexandrites, you should be fine.
4. See above for my appraisal. Also, the stones I have are not the greatest quality - the one in the ring has a minor inclusion in it that's visible to the naked eye and the color change isn't as dramatic as some other stones. The real deal is VERY expensive because they are pretty rare. In fact, carat for carat of comparable quality, they are more expensive than diamonds.
Sorry this is so long, but I hope it helps!
My engagement ring is white gold and has an alexandrite center stone and channel-set diamonds and alexandrite on the side. It is hard to find affordable natural alexandrite unless you get lucky with some estate jewelry. I do have a lab stones and it is very pretty. It ranges from a bright teal-green to deep amethyst purple.
The stones are extremely rare and the starting price for a one carat stone with a really good color change starts around 1000 and can go up to 10,000 or more. You can find some that are a little cheaper than 1000 that will have around a 50-70% color change, so they will be lighter. I talked to someone at a jewelry store before and they said that lab created is just as good and many people actually prefer them because they are a little cheaper. My boyfriend got REALLY lucky when he found mine. I will post pictures when I get it. 
I LOVE Alexandrite.
Authentic Alex. is really really rare and expensive. I made DH's ring with a lab created Alexandrite and it is fantastic.
@BackyardLoveBird: hehe, I hope you do! I told my boyfriend that alexandrite is the only thing I would be willing to pay tons of money for. 
Alex is more expensive than diamond. It is about the same hardness stones as ruby or sapphire- so it should hold up pretty well in an e-ring (but not as well as a diamond). Diamond is a 10 on the Mohs scale, ruby and sapphire are 9, and alex is 8.5 (so a little softer). They are absolutely beautiful. I have a few lab created one and they are great. Synthetic ones are not too expensive, but if you are looking for real- it will cost much more than a diamond would.
Here is a picture of my alexandrite. It doesn't really show the color when you take pictures, but its gorgeous in person! The stone is green, but the picture showed me differently.
if you want somethig that changes colour, you could always save a bit of money and get a colour change sapphire
LAB GROWN ALEXANDRITE WITH .50 KT DIAMOND SETTING. DIDN'T WANT A HALO FOR MY E-RING, SO THIS IS MY RIGHT HAND RING. CHANGES COLOR BEAUTIFULLY IN DIFFERENT LIGHT FROM BLUE TO GREEN AND PINKISH PURPLE! LOVE IT:)

Most of the sizeable alexandrite is man made. Natural is extremely expensive. Check out these color change garnets if you want a natural stone that doesn't cost thousands.
I have a loose natural cats eye alexandrite, but the color isn't great I'm afraid. It changes from muddy green to muddy pink. It's so hard to find a really great alexandrite that ticks all the boxes, and you will pay a pretty penny for it if you do find one.
Ok, I know this is an old thread, but I'll chime in case someone else looks into it. I've read that the best quality alexandrites you'll find are the lab made ones. They have the best clarity and color. This is great because it'll be cheaper and more eco-friendly! A lot of natural alexandrite can be pretty ugly. If you find a good quality natural stone, it'll be more expensive than a diamond. Most alexandrite sold is actually lab made, due to the rarity of the stone.
I know betterthandiamond sells alexandrite. The company in general has great reviews and sells some amazing lab-created stones. My friend had an alexandrite in her graduation ring, and it was amazing to see the different colors it displayed. I would bet money it was a lab-crated stone.
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So many questions...
Do any of you own any jewelry with alexandrite in it?
Is there a reputable jeweler to buy it from? (ebay/amazon sellers look sooo shady..)
Is it a good stone for an engagement/wedding ring?
How expensive is the real thing..is it even a feasible option?
Any pictures??
etc etc...
All I really know about this gemstone is that it naturally changes colors in different
lighting, and that it is really rare. If I could get just a few answers, or really info at all on the topic, that would be amazing!
Thanks bees!!