Blue sapphires from Elahera, Sri Lanka are well known in the international gem trade. They are the look-alike of the renowned Kashmir blue sapphires, the bench mark for blue sapphires in the world. In fact, when the Elahera blue sapphires first entered the international gem market, some of the renowned gem laboratories in the world mis-identified them as Kashmir blue sapphires and issued country-of-origin reports certifying them as Kashmir blue sapphires. The Elahera blue sapphires have the unique velvety blue color, known as cornflower blue color, so characteristic of the famous Kashmir blue sapphires. In fact even the external and internal characteristics of the two blue sapphires are identical in many respects, that led to the confusion referred to earlier.
According to Richard W. Hughes, the world renowned gemologist and author of the book "Ruby & Sapphire" the most authoritative book available on a single gem species - Corundum, there is a definite market ranking for sapphire according to the country-of-origin. The market ranking runs as follows :- 1. kashmir 2. Burma 3. Ceylon (Sri Lanka) 4. Everything else.
The price-per-carat of Kashmir blue sapphires can vary from anything between US$ 50,000 to US$200,000 depending on its size and quality. Burma sapphires can have a price-per-carat value ranging between US$ 30,00 - 60,000 also depending on its size and quality. High-quality Sri Lanka sapphires of large size, usually above 50 carats can have an average price-per-carat value of aound US$40,000. Smaller Sri Lanka sapphires of good quality and over 10 carats can have an average value of around US$5,000 per carat.
Guru, your sapphire weighs only around 3 carats and it is still in the rough. When cut and polished it may yield a blue sapphire of only around 2.00 carats or even less than that. Despite the stone having a beautiful cornflower blue/peacock blue color, excellent clarity, and homogenous color like Kashmir sapphires as stated by you, due to its smaller size, the value of the stone will only be around US$500 - 1000 per carat.