The Bahia Emerald is one of the largest emeralds (or rather, emerald crystals embedded in host rock) and contains the largest single shard ever found. The approximately 840 lb (1,900,000 carats) Brazilian stone narrowly escaped flooding during Hurricane Katrina in 2005 during a period of storage in a warehouse in New Orleans.[1] It was subsequently reported stolen in September 2008 from a secured vault in South El Monte in Los Angeles County, California.[2] Whilst the stone has been valued at some $400 million, the true value is unclear. At one point, the emerald was listed for sale on eBay for a "Buy It Now" price of $75 million.[2]
It originally was mined in the beryl mines of western Bahia State, Brazil, from which it takes its name. Bahia is an archaic form of Portuguese baía, meaning 'bay' after the bay first seen by European explorers in the 16th century.
After being moved from Brazil to the U.S., various attempts were made to sell it without success. There were conflicting claims of ownership. Eventually the emerald was seized from a gem dealer in Las Vegas and taken into the custody of the Los Angeles Sheriff's Department. After a series of legal actions, Judge John A. Kronstadt of the Los Angeles County Superior Court announced in September 2010 that he would hear the case.[1][3] Currently Jerry Ferrara, Kit Morrrison and Todd Armstrong of F&M Holding who have paid more than 1.3 million for the Bahia Emerald are among the claimants to rightful ownership.[3]