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Father buys his seven year old daughter The Blue Moon Diamond for a world record £32 million.

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Hong Kong’s sixth richest man Joseph Lau bought the rare 12.03 carat cushion shaped blue moon diamond  for his seven year old daughter at Sotheby’s last week, and renamed it the “Blue Moon of Josephine” after her.

It has also been confirmed that Mr Lau, was the anonymous buyer of the 16.08ct vivid pink diamond that sold at Christies for £19 million the previous day, which he renamed “Sweet Josephine”. The flamboyant Hong Kong billionaire spent a whopping £51 million in two days.

In 2009, Mr Lau bought another blue diamond for his daughter – the 7.03ct “Star of Josephine” paying what was then then a record of $9.5 million.

The Blue Moon of Josephine is said to be among the largest know vivid blue diamond. The diamond was found in South Africa in January last year and its striking blue colour is attributed to the presence of the element boron within its crystal structure. It was named "Blue Moon" to reflect its rarity.

David Bennett, the head of Sotheby’s international jewellery division, said the “Blue Moon” sale broke several records and made the gemstone the most expensive diamond, regardless of colour, and the most expensive jewel ever sold at auction. It also fetched the highest-ever price per carat, he said.

The previous record was held by the Graff Pink of 24.78 carats, sold by Sotheby's for £30 million in November 2010.

"For me the Blue Moon was always the blue diamond of my career. I've never seen a more beautiful stone – its shape, colour and purity. It's a magical stone," Mr Bennett said.

Experts say the market for coloured diamonds has become increasingly strong in recent months, with both blue and pink diamonds attracting a lot of attention in jewel sales in Geneva.

Coloured diamonds are among the rarest in the world, even ones that are not particularly vivid or clear.


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