Blue Moon Diamond sets World Auction Record at $48.4 Million

The 12.03-carat Blue Moon diamond shattered all records Wednesday at Sotheby’s Geneva Magnificent Jewels and Noble Jewels sale. The cushion-shaped Internally Flawless Fancy Vivid blue diamond sold for more than $48.4 million, setting a world auction records for any diamond, gem or jewel. It is the first diamond or gemstone to surpass $4 million per carat, also an auction record.

It sold within its estimate of $35 million to $55 million.

The buyer has been identified as billionaire Hong Kong real estate investor Joseph Lau, according to news reports, the same person who who paid a record $28.5 million for a 16.08-carat cushion shaped fancy vivid pink diamond at Christie’s Geneva sale on Tuesday. He reportedly named both diamonds after his seven-year-old daughter, Josephine. “The Blue Moon of Josephine” for his most recent purchase and “Sweet Josephine” for the pink diamond.

Source: http://www.forbes.com