What do you do when you are Joseph Lau, Hong Kong billionaire property owner of Chinese Estates Holdings and you have some spare cash to use up?, you buy your seven year old daughter a £31 million diamond ring of course. The diamond weighing in at a hefty 12.03 carats and was named “Blue Moon” due to is stunning colour tone, was purchased at Sotheby’s auction in Geneva in which it was aptly re-named “Blue Moon of Josephine” for Mr Lau’s daughter. Auctioneer David Bennett has said the stone is the “highest price per carat” ever paid for any type of gem. Previously the highest transaction for a diamond was the 24.8-carat Graff Pink which was sold in 2010, again by Sotheby’s, for £30.3 million.
