A large blue diamond has become the most expensive piece of jewellery after being sold at an auction for $48.5 million.
The 12.03 carat gemstone described as The Blue Moon Diamond, was bought after a tense eight-minute auction in Geneva, with a total of 30 bids.
The Diamond has been declared flawless by the Gemological Institute of America.
Yesterday, it was purchased by a Hong Kong collector who has renamed the diamond The Blue Moon of Josephine.
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