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HK tycoon buys his 7-year-old daughter a blue diamond for record US$48.4m

Joseph Lau has bought 2 colour diamonds at auction over 2 days. Both stones are named after his daughter. The first is the pink diamond, 'Sweet Josephine', bought on Tuesday from Christie's for US$28.5 million, and the second is the 'Blue Moon of Josephine' (above), at US$48.4 milion on Wednesday, from Sotheby's.

Hong Kong

A Hong Kong billionaire spent a record US$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 on Thursday.

Property tycoon Joseph Lau bought the rock at a Sotheby's auction on Wednesday