World's largest blue sapphire could go under hammer

The world's largest blue sapphire could go under the hammer, if its owner can decide what to do with it.

The stone, which weighs 1,404.49 carats (281 grams), was sold in 2014 at a Swiss auction for $16.94 million. Its current owner purchased it in September 2015, but declined to tell Reuters how much for. He estimates its value, though, to be around $100 million.

He may auction the gem, or he may display it as an international attraction to "share it with the public".

"I have to balance it out with my security concerns," he added.

The gem wa found in Sri Lanka, which is now known for its wealth of precious stones. Indeed, the three largest blue sapphires to date have all been found in the country, while it also exported $381.2 million worth of jewelry in 2014, according to official figures.