Sotheby’s Sets Record, Sells Blue Moon Diamond For $48 Million * Update *

World News
13/11/2015 10:15

The "Blue Moon" diamond has been sold for a record $48.26 million (48.6 CHF) in Geneva, according to auction house Sotheby's. The sale price is a record for any gemstone and also per carat, a spokesman said. Sotheby's describes it as a 12.03-carat fancy vivid blue internally flawless diamond.

It has now been announced that the buyer of the blue diamond, as well as the 16.08 ct cushion-cut Fancy Vivid pink diamond that sold for $28.55m at Christie’s Geneva Magnificent Jewels auction earlier this week, is Hong-Kong based billionaire fugitive Joseph Lau Luen-hung. Lau is listed by Forbes as the sixth richest man in Hong Kong and 114th wealthiest globally, with estimated assets worth US$9.8 billion as of November. He is also a convicted fraudster, having been found guilty in March last year for his part in a bribes-for-land racket involving the most corrupt public official ever brought to justice in the history of Macau. He received a five-year jail term, but has not served one day in prison because the former Portuguese enclave does not have an extradition treaty with Hong Kong. He renamed the pink stone “Sweet Josephine” and the blue stone “The Blue Moon of Josephine”, for his 7-year-old daughter.