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Billionaire buys 7-year-old daughter Blue Moon diamond for record $48m

Hong Kong businessman Joseph Lau renames gem ‘Blue Moon of Josephine’ after daughter, a day after spending $28.5m on rare 16.08-carat pink diamond

A Hong Kong billionaire spent a record $48.4m buying an 12.03-carat diamond dubbed “Blue Moon” for his seven-year-old daughter in an auction in Geneva, the Guardian reports.

Property tycoon Joseph Lau bought the rock at a Sotheby’s auction on Wednesday and immediately renamed it “Blue Moon of Josephine” after his daughter.

The sale comes the day after he spent $28.5m buying a rare 16.08-carat pink diamond – the largest of its kind to ever go under the hammer – from rival auction house Christie’s, which he rebaptised “Sweet Josephine”.

A Hong Kong-based spokeswoman for Lau confirmed the two purchases. “The first was the pink one, ‘Sweet Josephine’, and the second one was the ‘Blue Moon of Josephine’,” she said.

David Bennett, the head of Sotheby’s international jewellery division, said the “Blue Moon” sale broke several records and made the gemstone the most expensive diamond, regardless of colour, and the most expensive jewel ever sold at auction. It also fetched the highest-ever price per carat, he said.

The previous world record for a jewel sold at auction was held by the 24.78-carat “Graff Pink” diamond, which was sold by Sotheby’s for $46.2m in November 2010.

This is not the first time Lau has bought rare jewels for his daughter. In 2009, he reportedly spent $9.5m on another blue diamond, which he renamed the “Star of Josephine”.

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