World’s largest blue star sapphire worth up to $175M found

The world's largest blue Sapphire is discovered in Sri Lanka
The world's largest blue Sapphire is discovered in Sri Lanka

The world's largest blue star sapphire has been unearthed in a Sri Lankan mine, gem experts have claimed, according to the BBC.

Experts from the Gemmological Institute of Colombo, in Sri Lanka, have certified that the gem weighs a record 1,404.49 carats (nearly 10 ounces).

The blue gem has been given a price tag of at least $100 million, however, its current owner, estimates that it could go for as much as $175 million, if put up for auction.

The largest blue star sapphire gem found has been given a price tag of at least $100 million.
Source: YouTube

"The moment I saw it, I decided to buy," the sapphire's current owner, who chose to remain anonymous, told the BBC World Service's Newsday program.

"When the stone was brought to me I suspected that it might be the world's largest blue star sapphire. So I took a risk and bought it."

The anonymous owner has named the sapphire "The Star of Adam" and told the BBC that he saw the gem as more of "an exhibition piece" than jewelry.

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The gemstone was mined in the southern Sri Lankan city of Ratnapura, and according to the BBC, beats the current record-holder of some 1,395 carats.

Leading gem and jewelry dealer based in Sri Lanka, Armil Samoon, confirmed with the BBC that this was 'the largest blue star sapphire in the world.'

Read the BBC News report here.

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By CNBC's Alexandra Gibbs, follow her @AlexGibbsy and @CNBCi