Seeking to cash in on a blue star
A Sri Lankan merchant says his giant gem is worth at least $300 million.
COLOMBO, Sri Lanka — A Sri Lankan gem merchant claiming to have the world’s biggest blue star sapphire is ready to sell the precious stone he says is worth at least $300 million.
The Gemological Institute of Colombo certified that the gem weighed 1,404.49 carats. The institute’s chief gemologist, Ashan Amarasinghe, said the stone could be the biggest of its type.
The oval-shaped gem is nearly as large as a man’s palm and was mined from a pit near the central town of Ratnapura known as the “gem city” of Sri Lanka.
The owner said he bought the sapphire last September from a local gem merchant and had it certified by the GIC. The owner spoke at his home in the capital, Colombo, but asked to remain anonymous because he fears that he could be abducted or killed for the stone.
The institute’s certification report says the stone is a “large specimen of unheated blue star sapphire with a well-defined asterism (star effect).”
The owner said the stone was brought to him cut and polished, and he knew it was rare because of the size and the star effect.
He said he is willing to sell it, for the right price. Though he previously valued it at $100 million, he said its fame has increased its worth, and he hopes it could bring $300 million. He’s already had offers but hasn’t accepted any.
The owner said he named the stone “Star of Adam” because local legend says Sri Lanka’s world-famous blue sapphires were formed by the tears of Adam after God expelled him from paradise.
According to senior gemologists, the previous three largest blue sapphires have been found in Sri Lanka. The National Gem and Jewelry Authority said the stone previously known as the largest blue star sapphire weighs 1,395 carats.
Sri Lanka’s blue sapphires, also referred to as Ceylon sapphires, are renowned for their unique color, clarity and shimmer in their cornflower blue luster. They have been acknowledged as superior to sapphires sourced from other countries and have been collected by world royalty, wealthy collectors and museums.