COLOMBO, Sri Lanka (AP) — A Purple Star Sapphire weighing 3,563 carats which is claimed to be the world’s biggest of its kind was unveiled on Saturday in the Sri Lankan capital by the owners, who are ready to sell the precious stone which is estimated to be worth at least $300 million.

The round shaped gem named “Star of Pure Land” is the world’s largest documented natural purple star sapphire, said Ashan Amarasinghe, a consultant gemologist.

“This is the largest purple star sapphire of its kind,” he told the media, adding that the gem “shows a well-defined asterism. It has six rays asterism. That’s something special out of all the other stones.”

The gem, which has been polished, is owned by the Star of Pure Land Team, who want to remain anonymous for security reasons.

One of the owners said the gem was found in a gem pit near the remote Sri Lankan town of Rathnapura, known as the “city of gems,” in 2023.

It was purchased together with other gems in 2023 and about two years later, the owners found that it was a special stone. They then got it certified by two laboratories.

Amarasinghe said the value of the stone has been estimated at $300 million to $400 million by international valuers. Sri Lankan sapphires are renowned for their unique color, clarity and shimmer.