noun, plural rarities.
something rare, unusual, or uncommon: Snowstorms are a rarity in the South.
something esteemed or interesting in being rare, uncommon, or curious: That folio is a rarity that will bring a good price.
the state or quality of being rare.
rare occurrence; infrequency: Volcanic eruptions on the island occur with great rarity.
unusual excellence.
thinness, as of air or a gas.

1550–60; < Latin rāritās thinness, equivalent to rār(us) rare1 + -itās -ity

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World English Dictionary
rarity (ˈrɛərɪtɪ)
n , pl -ties
1.  a rare person or thing, esp something interesting or valued because it is uncommon
2.  the state or quality of being rare

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
It so happens that a true trombone virtuoso is a rarity.
Letters to the editor by aggrieved authors show that reviewing without reading
  is no rarity.
All the edges of this rarity are uncut, except the top edge.
But another attention-raising factor was present, too: the rarity of an
  academic collapse.
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