Billionaire Buys World’s Most Expensive Diamond

Blue Diamond

An Asian billionaire has purchased the world’s most expensive diamond. The vivid blue stunner weighs in at a hefty 12.03 carats.

The ‘Blue Moon’ diamond was sold for a whopping $48.4 million, making it the world’s most expensive diamond.

According to the auctioneer David Bennett, it is the “highest price per carat” ever obtained for any kind of stone.

The diamond was purchased at a Sotheby’s auction in Geneva. The successful bidder renamed it, ‘Blue Moon of Josephine.’

One day earlier an anonymous bidder in Geneva purchased a 16.08-carat pink diamond for $28.5 million. He named it ‘Sweet Josephine.’

CNN confirmed after the auction that billionaire Joseph Lau, of property firm Chinese Estates Holdings, purchased the diamond.

“Yes, the diamonds were bought by Mr. Joseph Lau for his daughter,” his assistant told CNN.

This isn’t the first time he has purchased large gems for his 7-year-old Josephine. He also buys jewels for 13-year-old Zoe.

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The ‘Star of Josephine” is named after a 7.03-carat blue diamond that was purchased in 2009 for $9.48 million.

The 9.75-carat blue diamond purchased for $32.6 million was named ‘The Zoe Diamond’ and a Burmese ruby and diamond brooch weighing 10.10 carats sold for $8.43 million, and was quick renamed ‘The Zoe Red.’

Lau is a prominent collector of art, diamonds, wine, and various other uber expensive collectibles.

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.