World's Most Expensive Diamond

According to Cnn, a Hong Kong tycoon purchases the "Blue Moon" diamond for a whopping $48.4 million. Billionaire Joseph Lau bought it for his 7-year-old daughter Josephine and renamed the stone "Blue Moon of Josephine".

A day before, Lau purchased a 16.08 ct Pink Diamond for $28.5 million USD and named it "Sweet Josephine". According to Forbes, Lau is the 114th richest person in the world.

A Blue Diamond Engagement Ring that boasts a blue diamond center stone is one of the most rarest of all. According to NaturallyColored, due to the supply of Blue Diamond decreasing, and the demand for it increasing the blue diamonds will be obtained at a premium. The NCDIA recently reported that natural blue diamond prices have been gradually and surely rising between twelve and secenteen percent.