World record price for sapphire

[Aussie Sapphire]

Despite the financial crisis, someone was prepared to pay a record price for a sapphire ring recently.  The ring featured a top quality 42.28 carat Kashmir sapphire that went for $3.49 million or $82,500 USD per carat.

Not quite the record for per carat price - that goes to a Kashmir sapphire from last April at $135,000/ct but you cant argue with a price tag of $80,000 for this ring.

Financial crisis must be biting a bit though - only half the lots on offer sold and prices were below expectations.

Read more here:
http://www.reuters.com/article/artsNews/idUSTRE4AI8SJ20081120

I'll try and find a picture - its the closest we'll ever get to seeing a sapphire of that value.

cheers
Leah