Hong Kong billionaire tycoonBlue Moon diamond sells  for $48 Million

A  Property tycoon  paid a total of $77 million at auctions in Geneva for two large and rare coloured diamonds for his daughter, his office said Thursday.

Joseph Lau was the top bidder for the 12.03-carat “Blue Moon” diamond that sold Wednesday night for a record-setting 48.6 million Swiss francs ($64.3 million Cdn), said a spokeswoman for Lau, who declined to give her name.

A Sotheby's employee displays the rare Blue Moon Diamond during a preview at Sotheby's, in Geneva, Switzerland. The 12.03 carat blue diamond is the largest cushion-shaped fancy vivid blue diamond ever to appear at auction. (Martial Trezzini/Associated Press)

A Sotheby’s employee displays the rare Blue Moon Diamond during a preview at Sotheby’s, in Geneva, Switzerland. The 12.03 carat blue diamond is the largest cushion-shaped fancy vivid blue diamond ever to appear at auction. (Martial Trezzini/Associated Press)

he buyer renamed that diamond “Sweet Josephine,” Christie’s said.

“Tonight we set a new world record, a new auction record for any diamond, any jewel, any gemstone, with the sale of the Blue Moon Diamond,” said auctioneer David Bennett. He specified the price as $48,468,158. “For me, the blue moon was always the blue diamond of my career. I have never seen a more beautiful stone. The shape, the color, the purity — it’s a magical stone.”

'Blue Moon Diamond' sells for world record $48.4 million - Sotheby's A model poses with a 12.03 carats cushion-shaped fancy vivid blue diamond mounted on a ring at Sotheby's auction house in Geneva, Switzerland November 4, 2015. REUTERS/Denis Balibouse

‘Blue Moon Diamond’ sells for world record $48.4 million – Sotheby’s
A model poses with a 12.03 carats cushion-shaped fancy vivid blue diamond mounted on a ring at Sotheby’s auction house in Geneva, Switzerland November 4, 2015. REUTERS/Denis Balibouse

“Yes, the two diamonds are bought by Joseph Lau,” said the spokeswoman, who added that they were named after Lau’s seven-year-old daughter.

The blue diamond, set in a ring, was said to be among the largest known fancy vivid blue diamonds and was the showpiece gem at the Sotheby’s jewelry auction.

Blue diamonds are formed when boron is mixed with carbon when the gem is created.

Hong Kong tycoon buys 7-year-old daughter $77M in diamonds

Hong Kong tycoon buys 7-year-old daughter $77M in diamonds