UPDATE: The Blue Moon Diamond has officially found a new owner, according to the Associated Press. The stunning 12.03 carat gem, which was expected to bring in as much as $55 million, sold to Joseph Lau, a Hong Kong billionaire, for $48.5 million.
Interestingly, Lau purchased the impressive diamond for his seven-year-old daughter Josephine, after whom he renamed the stone. It is now known as the "Blue Moon of Josephine." And according to The Guardian, this isn't the only expensive purchase Lau made this week - he also dropped $28.5 million on a rare pink diamond, now known as "Sweet Josephine." Color us jealous.
Only a year after it was discovered in South Africa, the internally flawless blue diamond known as the Blue Moon Diamond will head to auction November 11, as part of Sotheby's Magnificent Jewels and Noble Jewels sale in Geneva.
The rare stone's color is classified as "fancy vivid blue" by the Gemological Institute of America, the highest color rating a blue diamond can achieve, according to CNBC. It weighs in at an impressive 12.03 carats.
It is the largest cushion-cut fancy vivid blue diamond ever to appear at auction, and its rarity is expected to bring in as much as $55 million.
The worldwide chairman of Sotheby's international jewelry division, David Bennett, explained to CNBC that the stone's perfect color and purity are so rare that the gem will soon take its place among the most famous jewels in the world.
He went on to explain the diamond's name was inspired by its rarity.
"While any diamond with natural blue coloration is a rare discovery," he said, "Some are so exceptional that they emerge only once in a lifetime. A blue moon. This diamond is one of those remarkable occurrences."
It's hard not to think of that other famous - albeit fictional - blue diamond, the Heart of the Ocean from "Titanic," anytime a blue gemstone pops up. Here's hoping the Blue Moon diamond doesn't end up at the bottom of the sea.
