An exceptional 12.03-carat blue diamond was sold in Geneva for a new world record of $48.4 million Wednesday, Sotheby´s informed.
The top bidder, real estate tycoon Joseph Lau, said he bought the so-called "Blue Moon Diamond" for his 7-year-old daughter. He was also the buyer of a pink diamond that sold for $28.5 million.
Lau was convicted last year by a Macau court of corruption and sentenced to more than five years in prison. However, he remains free because Macau and Hong Kong have no extradition treaty.