The Blue Sapphire Stakes takes place on the Wednesday in the middle of the three day Caulfield Cup Carnival. Caulfield Guineas Day is the first day of the carnival and features four Group 1 events, and the third day, held on the Saturday after Blue Sapphire Stakes Day, is Caulfield Cup Day. The Blue Sapphire Stakes is held on the same day as the Group 3 Ladies Day Vase over 1600m, the Group 3 Coongy Handicap over 2000m and the Listed Caulfield Village Stakes over 1200m.
The race was first held in 2012 on Caulfield Guineas day. It was established because there was a recognition that Victoria needed more feature events for three-year-olds like the Golden Rose in Sydney. In 2014 it became a Listed race and was moved to the Wednesday meeting, then was upgraded to a Group 3 in 2016 which is rapid advancement in status and prizemoney for such a young race. It has now taken over from the Ladies Day Vase as being the feature event of the meeting.
From 2005 to 2011 there was a two-year-old race at Caulfield over 1200m in May called the Blue Sapphire Classic that Black Caviar won by 6 lengths at her second start. That was a different race to this 3YO race.
The 2020 running only had three runners despite the $400,000 prizemoney on offer. It was a stride for stride battle down the straight between the odds-on favourite Anders and the second-fancied horse Hanseatic. In the last 50m the outsider Ranting ran them both down so the finishing order was the exact opposite of what the market expected. Strange things happen in small fields.