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


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

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 re-baptized “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’,” sources stated.