By CRYSTAL GOH

The 7.03-carat blue diamond that broke records at the recent Sotheby’s Geneva Magnificent Jewels auction now has a name. Its new owner Mr. Joseph Lau Luen-Hung, a renowned collector and connoisseur in Hong Kong, has christened the cushion-shaped diamond ‘Star of Josephine’.

We first brought you news of the auction of this diamond from Petra Diamonds’ famed Cullinan mine in early April. One of the world’s most important gems, this rare, internally flawless stone fetched $9,488,754, making it the most expensive fancy vivid blue diamond sold at an auction to date.

This works out to an eye-popping price of $1,349,752 per carat, setting yet another world record for the highest value per carat for any gemstone sold at an auction.