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SA's Blue Moon diamond sells for record $48 million

The diamond was purchased by a private collector from Hong Kong & renamed The Blue Moon of Josephine.

A 29.6 carat blue diamond has been discovered at a South African mine by Petra Diamonds. Picture: www.petradiamonds.com.

JOHANNESBURG The Blue Moon diamond has been sold for a record $48 million in Geneva.

According to auction house Sotheby's, the sale price is a record for any gemstone and also per carat.

The diamond was purchased by a private collector from Hong Kong and renamed The Blue Moon of Josephine.

The rare 29.62 carat diamond was found in the Cullinan Mine in South Afric a in January last year.

Blue diamonds make up only 0.1 percent of diamonds unearthed at the mine.

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