When it comes to buying a gift for your child, most of us will head to the local toy shop or even book store and stick to a strict budget, but not if you're a billionaire!
Hong Kong property developer Joseph Lau, who is wanted in Macau over corruption charges, spent a whopping €45 million at a Sotheby auction in Geneva buying an extremely rare blue diamond.
Honouring his seven-year-old, the father renamed the 12.03 carat jewel The Blue Moon of Josephine after his daughter.
A day earlier, the 64-year-old bought a pink diamond ring at Christie’s for €26m which he renamed Sweet Josephine.
While the auction house didn’t reveal who had made the purchase, auctioneer David Bennett did say at the time that it was a new world record:
"Tonight we set a new world record, a new auction record for any diamond, any jewel, any gemstone, with the sale of the Blue Moon diamond. For me, the Blue Moon was always the blue diamond of my career. I have never seen a more beautiful stone. The shape, the colour, the purity — it's a magical stone."
Lau's reps confirmed to AP that he had made the extravagant purchases: "Yes, the two diamonds are bought by Joseph Lau."
Josephine is the tycoon’s youngster daughter with his partner Chan Hoi-wan. He also has four other children with two other women, Yvonne Lui and Bo Wing-kam.
