Worlds largest Blue Star Sapphire(worth $100M)has been found in Sri Lanka

The world's biggest blue star sapphire weighing in at 1,404.49 carats  (281 grams)has been found in a mine in Sri Lanka.This polished oval sapphire is as large as a person's palm.Gemologists in Colombo say the gem is worth at least $100 million, but could sell for up to $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 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.

"Britain's Princess Diana wore an engagement ring made from a blue oval sapphire from Sri Lanka encircled with diamonds, while Prince William's bride Kate Middleton wore a similar sapphire and diamond cluster, also using a Sri Lankan stone.The National Gem and Jewellery Authority of Sri Lanka said the royal ring had increased sales and demand for Sri Lankan sapphires around the world.

Sri Lanka exported $381.2 million worth of gems and jewelry in 2014, government figures show. It is famous for precious stones, especially sapphires, which come in shades of blue, pink, yellow, violet, white, green and orange.