A rare Purple Star Sapphire weighing 3,563 carats, believed to be the largest of its kind in the world, was unveiled on Saturday in Colombo.

The gemstone is estimated to be worth at least $300 million, which is roughly Rs 2,700 crore in Indian currency. The owners have said they are ready to sell the precious stone.

The round-shaped gem has been named “Star of Pure Land”. According to consultant gemologist Ashan Amarasinghe, it is the world’s largest documented natural purple star sapphire.

“This is the largest purple star sapphire of its kind,” he told the media.

He also highlighted a rare feature of the stone.

“It shows a well-defined asterism. It has six rays asterism. That's something special out of all the other stones.”

One of the owners said the sapphire was discovered in 2023 at a gem pit near Rathnapura, a town widely known as Sri Lanka’s “city of gems.”

The stone was bought along with other gems, and its unique value was recognised nearly two years later, after closer examination.

After realising its importance, the owners sent the sapphire to two laboratories for certification, which confirmed its rarity and size.

The gem has since been polished and is now owned by the Star of Pure Land Team, who have chosen to remain anonymous for security reasons.

Amarasinghe said international experts have valued the sapphire at between $300 million and $400 million.

Sri Lanka is known worldwide for its sapphires, which are prized for their rich colour, clarity, and shine. This rare purple star sapphire is now being described as one of the most remarkable gemstones ever found in the country.