Joseph Lau, one of Hong Kong’s wealthiest citizens, paid roughly $48.5 million for the incredibly large and rare blue diamond auctioned at Sotheby’s in Geneva on Wednesday.

$48.5 million can buy a lot of fabulous items, including an incredibly rare, 12-carat, flawless blue diamond. 
That is roughly the amount Joseph Lau, one of Hong Kong’s wealthiest citizens, paid for the gem auctioned at Sotheby’s in Geneva on Wednesday.
He purchased the stone formerly known as the ‘Blue Moon diamond’ for his 7-year-old daughter. 
Lau renamed it ‘The Blue Moon Of Josephine’ in her honor. 
The sale