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Billionaire buys world’s most expensive diamond for his 7-year-old daughter

By Mason White 11:54 AM November 13, 2015
Diamond illustration 

By: Tanya Malhotra
A man bought his young daughter a special gift, an expensive diamond.

Hong Kong billionaire Joseph Lau, bought the world’s most expensive diamond for his 7-year-old daughter Josephine.

Lau spent a record $48.4 million for the purchase of a 12.03 carat diamond called “Blue Moon,”at an auction in Geneva, Switzerland.

The diamond was sold at the Sotheby’s auction house on Wednesday, and the buyer immediately changed its name to “Blue Moon of Josephine” in honor of his daughter.

The sale comes just one day after the 64-year-old man spent $28.5 million to purchase a rare 16.08 carat pink diamond from another auction house and renamed it “Sweet Josephine.”

A spokeswoman for Lau, confirmed the two purchases. David Bennett, director of the Sotheby’s international jewelery division, said that the “Blue Moon” sale broke several records and made the diamond the most expensive in the world.

This is not the first time that Lau bought rare jewels. Last November, he purchased a 9.75 carat blue diamond for $32.6 million for his 13-year-old daughter Zoe. He named it “The Zoe Diamond.”

He also bought a Burmese ruby and diamond brooch weighing 10.10 carats for $8.43 million, and named it “The Zoe Red.”