Tanzanite is named for the East African state of Tanzania. Tanzanite was first introduced by New York jewelers Tiffany & Co. Tanzanite has a sapphire-blue or amethyst/violet color depending on the type of light in which it is viewed. The only deposits are in Tanzania near Arusha. Tanzanite is one of the most precious stones offered at Lima Beads. It is absolutely breathtaking.