The World's Largest Blue Star Sapphire, Worth $100M, Has Been Discovered

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The world's biggest blue star sapphire - weighing in at 1,404.49 carats - has been found in a mine in Sri Lanka.

Gemologists in Colombo say the gem is worth at least US$100 million, but could sell for up to US$175 million.

Star sapphires get their name from the six-pointed star-shaped reflection that appears on their surface when they are polished.

According to local media, the gem was discovered last August in Ratnapura, a town in southern Sri Lanka known as the "City of Gems."

The current owner, who refused to be identified, told Ceylon Today the sapphire was "destined to be a priceless museum piece" and that the stone is so big it "cannot set in any kind of jewelery."

The new owner would not reveal how much he paid for the gem.