- To return to Sri Lanka from failed auction
- Stone not to be worn as jewellery, ideal for museum: NGJA
The Serendipity Sapphire which entered the Guinness Book of World Records earlier this year as the world’s largest sapphire aggregate with a weight of 503.2 kg had failed to sell at an auction in Dubai, according to the National Gem and Jewellery Authority of Sri Lanka (NGJA).
Speaking to The Sunday Morning Business, NGJA Director (Export Services and Export Marketing) Amal Thennakoon revealed that the owner of the Serendipity Sapphire had revealed to the authority that he would be bringing the sapphire cluster back to the country since the anticipated market for it had failed to materialise.
He added: “The Serendipity Sapphire failed to sell at the Dubai auction. This is an item that is of interest to museums or collectors. This is not a stone to be worn as jewellery.”
He further stated that he was unaware of what the owner of the Serendipity Sapphire intended to do with it once it was brought back to the country. “Maybe he intends to keep it at the Colombo Museum.”
Speaking to The Sunday Morning Business in October 2022, former Chairman of NGJA Thilak Weerasinghe revealed that the owner of the Serendipity Sapphire had entered into a Memorandum of Understanding (MoU) with Sotheby’s to auction it in Dubai.
“This sapphire has been tested in the world-renowned Gubelin Gem Lab in Switzerland from where it will be transported to Dubai to be auctioned. As I’m aware the sapphire has been handed over to Brink’s and they have obtained the necessary insurance. It is currently securely stored in their warehouse and the sapphire will likely be couriered to Dubai within this week. The owner has told me that the auctioneer has asked for three months ending in January 2023 to sell the sapphire cluster,” he explained.
Following the discovery of the Serendipity Sapphire in 2021, there was considerable speculation regarding the potential value of this sapphire cluster and certain experts affixed a valuation of $ 100 million to the sapphire.
– By Shenal Fernando