Blue Moon Diamond Sold For A Record Breaking €40 Million

Joseph Lau bought his seven year old daughter a pretty outlandish present yesterday. Hong Kong based businessman Lau purchased the 'flawless' Blue Moon diamond at a Sotheby’s auction on Wednesday, and in a sweet turn of events christened it 'The Blue Moon of Josephine” after his daughter. RTÉ reports that the sale broke several records, making the gemstone "the most expensive diamond, regardless of colour, and the most expensive jewel ever sold at auction." Lau is no stranger to dropping huge amounts of cash on precious stones, having reportedly spent $9.5m on another blue diamond, which he renamed the “Star of Josephine” in 2009 according to The Guardian. Melvyn Kirtly, chief gemologist with Tiffany explained why coloured diamonds are so expensive to the Huffington Post: "Colored diamonds are even rarer than colorless diamonds. There are more Picassos in the world then there are colored diamonds. The rarity is enormous, so the value is incredible." Dads everywhere are going to be feeling the pressure to impress this Christmas. Main Image: Cora International/Tino Hammid