Sri Lanka’s Serendipity sapphire to go on auction in China this November - Opportunity Sri Lanka
Sri Lanka’s Serendipity sapphire to go on auction in China this November

Sri Lanka’s Serendipity sapphire to go on auction in China this November

Sri Lanka’s Serendipity sapphire, which is the world’s largest star sapphire cluster that was discovered and recently reported from Sri Lanka, is to be auctioned in China in November, The Morning Business has reported.
Sri Lanka’s State Minister of Gem and Jewellery related Industries Lohan Ratwatte has said that the unearthed gem would be taken to China to be auctioned and the auctioning will take place by this November.
“Now we are conducting evaluations of these two gems, I think we are going to get another one today as well,” the State Minister has told the media, implying that both the gems would be taken to China for the process of auctioning.
Speaking about the auctioning, he has further said “following the auctioning, we (the Government of Sri Lanka) anticipate bringing the money back to Sri Lanka,” indicating that these gem stones would earn a considerable amount of capital to the country.
The initially reported star cluster was discovered by accident in a backyard in Ratnapura, and in fact, it was reported six months following the uncovering. The cluster has been estimated to be worth more than US$ 100 million and experts have said that the sapphire is pale blue in colour and weighs around 510 kg, The Morning Business has stated.
According to reports, the other sapphire cluster is 80 kgs in weight while it was also discovered from Ratnapura.
Ratwatte had told the media earlier that the delay of announcement took place due to the cleaning and analysis process and the stones are to be handed over to the National Gem and Jewellery Authority.
Ratwatte has added, “There are already a lot of people interested. As a collector’s item, this would likely go to a museum or a similar place. There are a lot of inquiries. However, we must first certify the stone. That process is currently happening.”

OSL take:

Sri Lanka is world renown for it’s gem and jewellery industry and the recent blue sapphire cluster unearthed has given a further boost to the country’s gem industry. The government of Sri Lanka has taken many steps to further promote the country’s gem and jewellery industry including promotions and incentives. The many trade agreements as well as trade concessions enjoyed by the country have also boosted Sri Lanka’s gem and jewellery industry. Foreign businesses/investors could therefore explore business/investment opportunities in Sri Lanka’s gem and jewellery industry.

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Article Code : VBS/AT/06082021/Z_4

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