The luckiest 7-year-old in the world has a new piece of bling to accessorize with when she plays dress up — and by bling we mean a 12.03-carat blue diamond ring that has been graded the highest possible quality and deemed internally flawless by the Gemological Institute of America.
For a jaw-dropping $48.5 million, Joseph Lau, a Hong Kong Billionaire, was able to gift his daughter Josephine the mega-rare "Blue Moon Diamond." The price paid for the Blue Moon Diamond breaks down to a record-breaking $4 million-plus per carat, according to Refinery29. To put this ring into perspective, Kim Kardashian's 15-carat engagement ring from Kanye West was only $8 million. Sotheby's, the auction house, identified the buyer as a private collector from Hong Kong but The Guardian was able to confirm Lau was the lucky purchaser.
"This show-stopping blue diamond surely is a once-in-a-lifetime stone," David Bennett, Sotheby's worldwide chairman of jewelry, said in a statement. But before you rush to your pinterest boards and start pinning blue diamond rings, according to the Gemological Institute of America, blue diamonds with medium tones are extremely rare and thus extremely expensive. If you're still dying over that blue look, (we don't blame you, it's gorgeous!) try a sapphire stone (à la Princess Kate's stunning sparkler) or a diamond ring with a sapphire halo.
Refinery29 notes that the Blue Moon diamond — named for its rarity after the phrase "once in a blue moon" — is worth more than 1,000 times the average engagement ring in the U.S. After purchasing the ring Lau decided to rename it "The Blue Moon of Josephine," in honor of his daughter.
Photo: Getty Images
Just when we thought we couldn't be more jealous of the 7-year-old, we found out that this is the second over-the-top gem purchase Lau has made for his daughter. He reportedly bought a 16.08-carat pink stone for a cool $28.5 million that he affectionately named "Sweet Josephine".
Before there was "The Blue Moon of Josephine" and the "Sweet Josephine," the most expensive jewel ever bought at auction was a pink diamond named the "Graff Pink" according to Fortune. Laurence Graff, a London jewelry dealer, purchased the 24.78-carat diamond in 2010 for $45.6.
This latest purchase adds to a growing collection of jewels Lau's daughter owns, and it is also her second blue diamond. Lau bought his daughter another blue diamond in 2009 for only $9.5 million named the "Star of Josephine."
With a jewelry box overflowing with priceless gems we can't help but wonder how Josephine's future fiancé will be able to top her already extravagant collection of bling!