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Pink diamond ring sells for $28.5 million at Geneva auction

The previous record for a diamond sale was held by the 24.78 carat Graff Pink, sold by Sotheby’s for US$46.2 million in November 2010. “It’s a magical stone”.

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Worldwide chairman of Sotheby’s global jewellery division David Bennett said it created a new record price for any gemstone and per carat. “The first was the pink one, “Sweet Josephine”, and the second one was the “Blue Moon of Josephine”, she said. Christie’s had listed the proposed sale price at $23m-$28m.

According to Sotheby’s the “Blue Moon for Josephine” broke a number of records and made the jewel the most expensive diamond ever and the most expensive sold at auction.

The 12.03 carat gemstone, dubbed The Blue Moon Diamond, was bought after a tense eight-minute showdown in Geneva, with a total of 30 bids. I have never seen a more handsome stone.

Lau, a property developer with a fortune estimated by Forbes at $9.9 billion, has a habit of snapping up expensive gems for his children.

The 29.62-carat blue diamond was found in the Cullinan Mine in South Africa in January past year.

A Hong-Kong based spokeswoman for Lau allegedly confirmed the two purchases to AFP.

The distinctive blue color in diamonds is attributed to hint quantities of the factor boron within the crystal construction. A Ruby, Sapphire and Diamond Bar Brooch, Monture Van Cleef & Arpels also soared past presale expectations, sellig for CHF 2.5 million ($2.5 million), almost five times its low estimate.

It was cut and polished in NY, which took six months. The diamond also set a new record of more than $4 million per carat, capping the daylong high-end jewellery sale that reaped roughly $140 million.

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At rival Christie’s on Wednesday, a large diamond of a rare pink hue fetched 28.725 million Swiss francs.

'Exceptional' diamonds to hit auction block