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The only color corundum stone that the term sapphire is not used for is red, which is called a ruby. [1] Pink colored corundum may be either classified as ruby or sapphire depending on locale. Commonly, natural sapphires are cut and polished into gemstones and worn in jewelry.
In October 2014, Sotheby's Hong Kong achieved consecutive per-carat price records for Kashmir sapphires – first with the 12.00 carat Cartier sapphire ring at US$193,975 per carat, then with a 17.16 carat sapphire at US$236,404, and again in June 2015 when the per-carat auction record was set at US$240,205. [39]
Mineralogist and Tiffany gem expert George Kunz (1856–1932) was commissioned by wealthy financier J. P. Morgan (1837–1913) to acquire an impressive gem collection for an exhibit at the Paris Exposition of 1900; the Star of India was among the stones Kunz procured. [4] The Star of India is a huge blue star sapphire weighing 563.35 carats.
Today the gemstone trade no longer makes such a distinction. [25] Many gemstones are used in even the most expensive jewelry, depending on the brand-name of the designer, fashion trends, market supply, treatments, etc. Nevertheless, diamonds, rubies, sapphires, and emeralds still have a reputation that exceeds those of other gemstones. [26]
The sale was finally completed for $65,000 cash and some stock considerations because the company's capital was exhausted, similar to previous Yogo ventures. The Yogo Sapphire Mining Corporation then changed its name to be the same as the former English firm's name: New Mine Sapphire Syndicate.
The Millennium Sapphire was showcased at the 2002 Academy Awards, [5] and in 2004 it made an appearance in Seattle at the launch of Princess Cruises' ship, The Sapphire Princess. [ 6 ] In 2020, Art Appraiser Pascal Butel, M.S. INALCO appraised the fair market value of the Millennium Sapphire at USD 100,000,000 – USD 150,000,000.
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