The Blue Moon Diamond: Worth and Controversies
The Blue Moon Diamond is one of the most captivating gemstones in the world. Revered for its dazzling beauty, flawless clarity, and rare blue hue, the Blue Moon Diamond has captured the imagination of collectors, historians, jewelers, and diamond enthusiasts across the globe. But beyond its sparkle lies a deeper story of discovery, ownership, controversy, and even artistic interpretation.
In this long-form article, we will explore the story of the Blue Moon Diamond, uncover what happened to it over time, examine its staggering worth, learn about its famous owners, investigate controversies surrounding the so-called “Blue Moon Diamond painting,” and discover where this extraordinary diamond is located today.
What Is the Blue Moon Diamond?
The Blue Moon Diamond is a rare fancy vivid blue diamond weighing 12.03 carats. It was discovered in January 2014 in the legendary Cullinan mine in South Africa, a mine famous for producing some of the most valuable diamonds in history, including parts of the Crown Jewels of the United Kingdom.
What makes the Blue Moon Diamond extraordinary is not just its size, but its Intense Fancy Vivid Blue color grade, the highest grade awarded by the Gemological Institute of America (GIA) for colored diamonds. Even more remarkable, the GIA graded the diamond as internally flawless, a designation so rare that it elevates the Blue Moon Diamond into a category of near-mythical gems.
Its name, “Blue Moon,” was inspired by the phrase “once in a blue moon,” underscoring its rarity and uniqueness.
The Discovery and Early Journey of the Blue Moon Diamond
The Blue Moon Diamond began its journey in South Africa’s Cullinan mine, owned by Petra Diamonds. The rough stone weighed around 29.6 carats before being carefully cut and polished into its current form by Cora International, a New York-based diamond company.
The process of cutting the diamond took over six months of precision craftsmanship. Every decision, from shaping to polishing, was made to maximize the gem’s brilliance and preserve its unique vivid blue hue. The end result was a cushion-shaped diamond weighing exactly 12.03 carats, a figure that would later become significant during its sale.
The Blue Moon Diamond at Auction
The world first got a glimpse of the Blue Moon Diamond when it was displayed at the Los Angeles County Museum of Natural History in 2014, mesmerizing thousands of visitors.
In November 2015, Sotheby’s Geneva brought the diamond to auction. The bidding war was fierce, as collectors and investors recognized the unparalleled rarity of the stone. In the end, the Blue Moon Diamond sold for an astonishing $48.4 million, setting a world record price per carat at the time for any diamond.
The buyer was Joseph Lau, a Hong Kong billionaire, who immediately renamed the diamond the “Blue Moon of Josephine” in honor of his seven-year-old daughter.
What Is the Blue Moon Diamond Worth Today?
At the time of its 2015 auction, the Blue Moon Diamond was valued at $48.4 million USD, translating to approximately $4 million per carat. This record-breaking valuation was justified by the stone’s flawless quality and unmatched rarity.
Today, the Blue Moon Diamond’s value has likely increased due to the rising demand for colored diamonds, particularly fancy vivid blue stones, which are among the rarest in the world. Experts estimate that if the Blue Moon Diamond were sold today, it could fetch anywhere between $55 million and $60 million USD, depending on market conditions.
In the world of high-value diamonds, rarity and provenance play as significant a role as weight. The Blue Moon Diamond’s reputation as a record-breaking stone ensures its status as one of the most valuable gems in history.
Who Has Owned the Famous Blue Moon Diamond?
The Blue Moon Diamond’s ownership history is relatively short compared to historic gems like the Hope Diamond, but it has already created waves in the luxury world.
Petra Diamonds (2014): The mining company responsible for discovering the rough stone.
Cora International (2014–2015): The diamond was cut, polished, and prepared for auction.
Joseph Lau (2015–Present): The Hong Kong billionaire and real estate tycoon purchased the diamond at Sotheby’s Geneva for $48.4 million and gifted it to his daughter, renaming it the Blue Moon of Josephine.
Joseph Lau is a controversial figure himself, having been convicted of bribery and money laundering in Macau. While he did not serve prison time due to residing in Hong Kong, his ownership of the diamond added an element of intrigue and scandal to the Blue Moon’s story.
What Happened to the Blue Moon Diamond?
After its record-breaking auction sale in 2015, the Blue Moon Diamond became part of the private collection of Joseph Lau’s daughter, Josephine. It is believed to remain in her possession today, safely stored as part of the family’s wealth portfolio.
Unlike some famous diamonds that end up in public institutions, such as the Hope Diamond in the Smithsonian, the Blue Moon Diamond is privately owned, making it inaccessible to the public. Its current location is not officially disclosed, though it is believed to reside in Hong Kong within Lau’s private vaults.
The Controversy: The Blue Moon Diamond Painting
Interestingly, the fame of the Blue Moon Diamond inspired several artists to create paintings and artistic interpretations of the gemstone. One such “Blue Moon Diamond painting” sparked controversy in the art community due to questions of authenticity, originality, and commercial exploitation.
Reports suggest that an artist claimed to have painted an original artwork of the Blue Moon Diamond, only for replicas and derivative works to be sold without proper attribution. This led to disputes over intellectual property rights and accusations of profiting from the diamond’s fame.
Critics argued that these paintings attempted to ride on the gemstone’s notoriety without adding meaningful artistic depth, while supporters believed that the art brought the diamond’s beauty into accessible mediums for those who could never see the gem in person.
The controversy highlighted an ongoing debate: should natural treasures like rare diamonds remain purely physical objects of wealth, or can they be ethically transformed into art and commercial products?
Public Opinion: Likes and Dislikes About the Blue Moon Diamond Painting
What People Like
Accessibility: Many admire the fact that the paintings allow people who cannot view the diamond in person to experience its beauty.
Artistic Inspiration: Supporters appreciate that the diamond inspired creativity in the art world, with paintings capturing the stone’s brilliance in unique ways.
Symbolism: Some art lovers see the Blue Moon Diamond paintings as symbols of rarity, elegance, and luxury, qualities that resonate with audiences.
What People Dislike
Authenticity Issues: Critics argue that the paintings dilute the uniqueness of the actual gem, turning a one-of-a-kind diamond into mass-market imagery.
Commercial Exploitation: Some feel that the art was produced purely for profit rather than genuine creativity.
Comparison to the Real Gem: No painting, however skilled, can replicate the mesmerizing sparkle and natural beauty of the real Blue Moon Diamond, leaving some viewers disappointed.
Where Is the Blue Moon Diamond Today?
As of today, the Blue Moon Diamond is believed to remain in the private collection of Joseph Lau’s daughter, Josephine, in Hong Kong. Since it is privately owned, it is not on display in any museum or public collection.
This exclusivity only adds to its allure. For the majority of the world, the Blue Moon Diamond can only be admired through photographs, auction records, and artistic interpretations like paintings.
Why the Blue Moon Diamond Is So Important
The Blue Moon Diamond is not just another luxury gemstone, it is a cultural and historical symbol. Here’s why it matters:
Rarity: Natural fancy vivid blue diamonds are among the rarest gemstones in the world.
Scientific Significance: Blue diamonds owe their color to trace amounts of boron in their structure, making them subjects of geological and gemological research.
Cultural Impact: From its record-breaking auction to inspiring art controversies, the Blue Moon Diamond has influenced multiple industries.
Economic Value: Its sale set a benchmark in the diamond market, influencing the pricing and desirability of colored diamonds worldwide.
The Blue Moon Diamond is a once-in-a-lifetime gemstone, embodying rarity, luxury, and intrigue. From its discovery in the Cullinan mine to its record-breaking sale and current private ownership, its journey reflects both the beauty and the controversies that surround the world’s most famous diamonds.
Whether admired in person, remembered through its painting controversies, or studied for its gemological significance, the Blue Moon Diamond remains one of the most iconic diamonds ever unearthed.
Its story is not just about wealth and beauty, but also about human fascination with rarity, ownership, and artistic interpretation. And while most of us may never see it in real life, the Blue Moon Diamond continues to sparkle in the imagination of the world. image/ Kirsty Wigglesworth / Associated Press
