The stars for the Indian gems seem to be in the perfect places this year. Only a few weeks after the famed pink diamond of the Nizam sold for $40 million, a record breaking price, another Indian gem has set new records for the pricing per carat.

The 19.88 carat "Star of Kashmir" a Kashmir sapphire that is shaped like a cushion was sold for a whopping $3,483,017 which is approximately Rs 20 crore. The jewel was auctioned by Christie's on Wednesday in Geneva.

This was supposedly the rarest of the Kashmir Sapphires which made it sit in the spotlight of the event. With a homogenous cornflower blue hues and highly saturated color, in a large size, this Kashmir Sapphire is beyond the best that you can find among the coveted Kashmir gems.

Another pear-shaped diamond with no color was also sold for $23.5 million for 101.73 carats. For a colorless diamond, this price is the highest ever paid for a colorless diamond. American Institute of Gemology graded the diamond “flawless with absolute symmetry”.

(AW- Anil)