Billionaire Luxury

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Blue Moon Diamond Sells for Sky High Price at Auction

There are few things we love more at Billionaire Luxury than diamonds. Another rare beauty sold for an exorbitant amount this month, shattering the record for most expensive jewel sold at an auction. The “Blue Moon” diamond, which is set in a ring, sold for a lavish 48.6 million Swiss francs—or $48.5 million—at Sotheby’s.

The 12.03 carat Blue Moon diamond is truly a sight to be seen, with its natural blue tint. Its name comes from the expression “once in a blue moon.” It record-breaking total price also marks a new high for price per carat. It sold for $4 million each.

The Blue Moon diamond comes from a 29.6-carat diamond from the same South African mine responsible for the 530-carat blue diamond in the British crown jewels and the Smithsonian’s “Blue Heart.” It is not only rare, but gorgeous.

What’s more, the diamond was only part of the shopping spree a private Hong Kong billionaire made. The day before, he purchased a pink diamond ring at Christie’s for $28.5 million. In later reports, a secretary revealed the private investor was in fact Joseph Lau. The billionaire renamed both purchases for his daughter, Josephine. Their new names are “The Blue Moon of Josephine” and “Sweet Josephine.”

According to Forbes, Lau is worth $9.8 billion. He is property developer who has seen better days. Last year, he was convicted of corruption charges in a Macau court. He was sentenced to five years in prison but did not serve as there was no extradition treaty with Hong Kong.