Honk Kong billionaire buys $48.4 million diamond for daughter

A Hong Kong billionaire spent a record $48.4 million buying a 12.03-carat diamond dubbed "Blue Moon" for his daughter in an auction in Geneva, his spokeswoman confirmed to AFP Thursday. Property tycoon Joseph Lau, who last year was found guilty of bribery in neighbouring Macau, bought the rock at a Sotheby's auction on Wednesday and immediately renamed it "The Blue Moon of Josephine" after his seven-year-old daughter. The sale comes the day after he spent $28.5 million 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 rebaptised "Sweet Josephine". A Hong Kong-based spokeswoman for Lau confirmed the two purchases to AFP. "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 ($48.4 million, 40 million euros), 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 Southeby's for $46.2 million in November 2010. Source:AFPFacebooktwittergoogle_plus

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