World’s Most Expensive Diamond Sells For $48.4 Million

Blue Moon of Josephine - World's Most Expensive Diamond

A 12.03 carat diamond, called the "Blue Moon," sold this week via auction for a whopping $48.4 million, making it world's most expensive diamond.

According to CNN, Chinese billionaire Joseph Lau won the diamond, which he renamed the "Blue Moon of Josephine".

A day before, at a Christie's auction, an anonymous bidder purchased a 16.08-carat pink diamond, for $28.5 million, which he dubbed "Sweet Josephine."

"Yes, the diamonds were bought by Mr. Joseph Lau for his daughter," his assistant said.

Apparently, Lau loves buying diamonds for his daughters, 7-year-old Josephine and 13-year-old Zoe.

In 2009, Lau purchased a 7.03-carat blue diamond for $9.48 million, which he named the "Star of Josephine."

Then, in November, he purchased a 9.75-carat blue diamond for $32.6 million, calling it "The Zoe Diamond" as well as a Burmese ruby and diamond brooch weighing 10.10 carats for $8.43 million, naming it "The Zoe Red."