A man has doled out �32million to buy the world's most expensive diamond as a gift for someone very special.
the flawless diamond
Billionaire businessman Joseph Lau, 64, paid the record-breaking sum for the flawless 12.03 carat Blue Moon diamond (world's most expensive diamond) which has the highest possible grading as a gift for his seven-year-old daughter.
Lau who is worth £6.4billion renamed the gem, The Blue Moon Josephine after his daughter.
He bought the gem after a tense auction at Sotheby's in Geneva, Switzerland. The gem described as a "once-in-a-lifetime tone" weighs 12.03 carats and is the first ever diamond to sell for more than £2.6million per carat. It was discovered in January 2014 at the Cullinan Mine in South Africa.
Billionaire Joseph Lau
Hong Kong-based businessman Lau has previously splashed out £25million on a painting and is also said to own the world's finest wine collection - comprising 100,000 bottles of plonk.