The Natural Sapphire Company unveils 69ct ring

The 69.35ct natural blue sapphire is surrounded by sixteen .50ct carat diamonds.

 New York-based jeweller The Natural Sapphire Company has unveiled the largest natural blue sapphire ring currently available on the market today - designed to look particularly similar to Kate Middleton's engagement ring.

The 69.35ct natural blue sapphire is surrounded by sixteen .50ct carat internally flawless diamonds, with a total weight of more than 8cts. Prices at $1.5m USD (£921,000) , it is regarded as the highest priced 'new' sapphire ring available for sale in the world.

The ring, which has been dubbed 'the blue wonder' is regarded as the largest sapphire ring ever made. It has been certified by four international gemmology laboratories, including the Gemological Institute of America (GIA).

The ring is inspired by what was originally Princess Diana's Garrard engagement ring, which is set with an oval blue sapphire weighing just under 20cts. The Natural Sapphire Company's 69ct natural blue sapphire was mined in Ceylon (Sri Lanka).

Kevin Fournie, gemmologist and rare gemstone historian at The Natural Sapphire Company, stated: "The British are great explorers.They have a rich history with rare gemstones. It's only fitting that the new royal nuptials were sealed with a rare sapphire from Ceylon."

The Natural Sapphire Company's CEO, Michael Arnstein, has described the sapphire ring as: "The finest ring we've ever created in our 72 year history. It is a sight to behold… A jewel fit for a queen."

In the United States, The Natural Sapphire Company was one of the first companies to see an influx of orders following the royal engagement. Within hours of William and Kate's engagement, the company's saw their server crash.

"Never in our company history did we experience such demand for sapphire engagement rings," said Arnstein. "Demand has maintained at record levels since the end of November 2010 when the engagement was announced", he added.

While the company is busy marketing the super-sized sapphire ring, it will also continue to offer smaller versions of the Princess Diana - now Middleton - engagement ring, with prices from $1,000 to $100,000.