Hong Kong tycoon buys $48.3m diamond for 7 year-old daughter

Hong Kong tycoon buys $48.3m diamond for 7 year-old daughter

Thursday, November 12, 2015 1:01 pm

Joseph Lau: bought diamonds for daughter Josephine

Joseph Lau: bought diamonds for daughter Josephine

A Hong Kong property tycoon bought a 12.03-carat diamond dubbed “Blue Moon” for his daughter with a record 375 million HK dollars (48.39 million U.S. dollars), local media reported today.

Fifty-three year old billionaire Joseph Lau, with networth estimated at $1.7billion  bought the gem at a Sotheby’s auction and renamed it “The Blue Moon of Josephine” after his seven-year-old daughter.

The sale came the day after he spent 28.5 million U.S. dollars on a rare 16.08-carat pink diamond, which he named “Sweet Josephine.”

World's most expensive diamond

World’s most expensive diamond

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, head of Sotheby’s international jewellery division, said the “Blue Moon” sale broke several records, making the gemstone “the most expensive diamond, regardless of colour, and the most expensive jewel ever sold at auction.”

The jewel, set in a ring, was sold for 48.6 million Swiss francs (48.38 million U.S. dollars), including fees, with a starting bid of 43.2 million Swiss francs. It also fetched the highest-ever price per carat, he said, with the buyer shelling out 4.02 million Swiss francs per carat.

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 46.2 million U.S. dollars in November 2010.

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