Hong Kong billionaire buys two of world's biggest diamonds

A Hong Kong billionaire has bought two of the world's biggest diamonds at auction - and named them after his seven-year-old daughter.

The South China Morning Post reported the rare and flawless 12.03 carat 'Blue Moon Diamond' was sold on Wednesday for US$48.4 million, setting a world record for a gemstone at auction according to Sotheby's.

It followed the sale of a 16.08 carat pink diamond at Christie's for US$28.7 million on Tuesday.

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The South China Morning Post reported the buyer was Joseph Lau Luen-hung, who renamed both of the stones Josephine, after his seven-year-old daughter.

The stones are now called "The Blue Moon of Josephine" and "Sweet Josephine".

Lau, chairman of Chinese Estates Holdings, 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.

Picture: Wikimedia

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