Daddy’s little girl

Billionaire buys $48M diamond for his 7-year-old daughter

A model poses with a 12.03 carats cushion-shaped fancy vivid blue diamond mounted on a ring at Sotheby's auction house in Geneva, Switzerland November 4, 2015. REUTERS/Denis Balibouse

Hong Kong billionaire Joseph Lau has bought the “Blue Moon” — one of the world’s largest blue diamonds, worth $48.4 million — for his 7-year-old daughter. He bought the 12.03-carat gemstone at an auction in Geneva, and immediately changed its name to “Blue Moon of Josephine” after his daughter. Just a day before, he already spent $28.5m on a rare 16.08-carat pink diamond from auction house Christie’s, and changed its name to “Sweet Josephine”. For the sale of the Blue Moon, the 64-year old property tycoon was in an eight-minute long telephone bidding war before finally winning the auction. According to David Bennet, head of Sotheby’s international jewellery division, the “Blue Moon”, which was discovered in South Africa in 2014, was the most expensive diamond ever sold, regardless of colour, and the most expensive jewel ever sold at auction.

Read the full story at The Guardian.

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