COLOMBO (News 1st); Sri Lanka’s National Gem and Jewellery Authority has decided to place the World’s Largest Star Sapphire at an overseas auction.
The Chairman of the Gem and Jewellery Authority Thilak Weerasinghe told News 1st on Thursday (29) that the Serendipity Sapphire will be put up for an auction to fetch a higher price.
Many overseas parties have expressed interest to purchase the Serendipity Sapphire, he added.
According to the Chairman of the Gem and Jewellery Authority, the star sapphire weighs 510 kg and is valued at over $200 million.
He said the discovery of the Star Sapphire was made around 08 months ago and it was not revealed at the time as the process of declaring the discovery was to be followed to the letter.
‘This gem stone was discovered in Kahawatte in the Ratnapura District and we cannot disclose further details of the precise location due to security concerns,’ he added.
The dimensions of the World’s largest Star Sapphire is 100 cm in length, 72 cm in width, and 50 cm in height.
The Chairman of the Gem and Jewellery authority said he was instructed by the respective minister to ensure the owners are protected and the Star Sapphire is moved to the safe at the Bank of Ceylon in Colombo under armed guard.
He believes the value of the Star Sapphire could reach up to $ 01 Billion, as many inquiries are being made to procure the gem stone.