The Collaborative International Dictionary of English v.0.48:
Water sapphire \Wa"ter sap"phire\ [Equiv. to F. saphir d'eau.] (Min.) A deep blue variety of iolite, sometimes used as a gem; -- called also saphir d'eau. [1913 Webster]WordNet (r) 3.0 (2006):
water sapphire n 1: a deep blue cordierite often used as a gemstone