This 12.03-carat blue diamond fetched $48.4 million at auction on November 11, 2015, making it the world's most expensive diamond.
This 12.03-carat blue diamond fetched $48.4 million at auction on November 11, 2015, making it the world's most expensive diamond.
FABRICE COFFRINI/Getty Images
The fancy, vivid blue diamond was discovered in South Africa in January last year.
The fancy, vivid blue diamond was discovered in South Africa in January last year.
FABRICE COFFRINI/Getty Images
Just the day before, Lau purchased a 16.08-carat pink diamond from Christie's, dubbing it 'Sweet Josephine'. Set as a ring, it features a double row of pave-set white diamonds which surround the main stone.
Just the day before, Lau purchased a 16.08-carat pink diamond from Christie's, dubbing it 'Sweet Josephine'. Set as a ring, it features a double row of pave-set white diamonds which surround the main stone.
Christies
Lau is known for his extravagant gifts and gestures. In 2009, he bought a 7.03-carat fancy vivid blue diamond for $9.48 million, which he named "Star of Josephine."
Lau is known for his extravagant gifts and gestures. In 2009, he bought a 7.03-carat fancy vivid blue diamond for $9.48 million, which he named "Star of Josephine."
Sothebys
Lau has also purchased wildly expensive stones for his other daughter, 13-year-old Zoe. He bought this 9.75 carat diamond last year from the collection of the late Bunny Mellon for $32.6 million, the most for any blue diamond at the time, and named it 'The Zoe Diamond.'
Lau has also purchased wildly expensive stones for his other daughter, 13-year-old Zoe. He bought this 9.75 carat diamond last year from the collection of the late Bunny Mellon for $32.6 million, the most for any blue diamond at the time, and named it 'The Zoe Diamond.'
Sothebys
He also bought for her 'The Zoe Red', a Burmese ruby and diamond brooch weighing 10.10 carats by Cartier for 8.43 million.
He also bought for her 'The Zoe Red', a Burmese ruby and diamond brooch weighing 10.10 carats by Cartier for 8.43 million.
Christies
In recent years, other high-value diamonds have hit the auction block. The 59.60-carat oval cut pink diamond known as "The Pink Star," went for $80 million at a 2013 Sotheby's auction. However, after the buyer defaulted on payment, it was returned to Sotheby's.
In recent years, other high-value diamonds have hit the auction block. The 59.60-carat oval cut pink diamond known as "The Pink Star," went for $80 million at a 2013 Sotheby's auction. However, after the buyer defaulted on payment, it was returned to Sotheby's.
EMMANUEL DUNAND/AFP/Getty Images
This 118.28 oval white diamond became the largest sold at auction when it went for $30.6 million at a Sotheby's auction in 2013.
This 118.28 oval white diamond became the largest sold at auction when it went for $30.6 million at a Sotheby's auction in 2013.
Peter Macdiarmid/Getty Images Europe/Getty Images
In April, 100-carat, emerald cut, D color, internally flawless diamond -- the largest of its clarity and cut to ever be shown at auction -- <a href="index.php?page=&url=http%3A%2F%2Fedition.cnn.com%2F2015%2F04%2F21%2Fworld%2Fsothebys-flawless-diamond%2F">sold for $22 million.</a>
In April, 100-carat, emerald cut, D color, internally flawless diamond -- the largest of its clarity and cut to ever be shown at auction -- sold for $22 million.
Courtesy Sotheby's
The 76.02-carat 400-year-old Archduke Joseph diamond set a new record for price per carat for a colorless diamond in 2012, when it sold for $21.5 million at a Christie's auction.
The 76.02-carat 400-year-old Archduke Joseph diamond set a new record for price per carat for a colorless diamond in 2012, when it sold for $21.5 million at a Christie's auction.
FABRICE COFFRINI/AFP/Getty Images
In 2010, Hong Kong's largest jewelry retailer, Chow Tai Fook, bought <a href="index.php?page=&url=http%3A%2F%2Fedition.cnn.com%2F2015%2F09%2F03%2Fluxury%2Fgallery%2F11000-diamonds-wallace-chan%2F">one of the world's largest rough diamonds</a> for $35.3 million.
In 2010, Hong Kong's largest jewelry retailer, Chow Tai Fook, bought one of the world's largest rough diamonds for $35.3 million.
Courtesy Chow Tai Fook
Jeweler Wallace Chan and a team of craftsman worked 47,000 hours to transform the stone it <a href="index.php?page=&url=http%3A%2F%2Fedition.cnn.com%2F2015%2F09%2F03%2Fluxury%2Fgallery%2F11000-diamonds-wallace-chan%2F">into this piece</a>, which Chai Tai Fook estimates could be worth $200 million.
Jeweler Wallace Chan and a team of craftsman worked 47,000 hours to transform the stone it into this piece, which Chai Tai Fook estimates could be worth $200 million.
Courtesy Chow Tai Fook