A Hong Kong Millionaire, broke two records in two days, with the purchase of two rare colored diamonds. A 12.03 carat who is known to be the largest known vivid blue diamond in the world, "The Blue Moon", auctioned Wednesday night at Sotheby's in Geneva and a Fancy Vivid Purple pink weighing 16.08carat set in a diamond ring, valued at $13.9 million. He renamed the pink stone "Sweet Josephine".

Image Credits: Sotheby's

The $48.5 million Blue Moon Diamond and the $13.9 million rare pink diamond were bought anonymously however the identity of Joseph Lau, was linked after he renamed the two stones.

Image Credits: Christie's

The diamonds will complement his current huge personal collection of art, jewelry and fine wines.

Part of his collection is a seven foot high portrait of Chairman Mao, by Andy Warhol, Paul Gauguin's Te Poipoi (the morning). In addition to his 10,000 bottles of wine, and fleet of jets.

The "Blue Moon" sale has broken several records and is the most expensive diamond sold on auction, according to David Benett, the head of Sotheby's jewelry division.

The previous record was broken by the Graff pink diamond, weighing 24.78 carat and sold for $46 million in 2010.

It is said that a master cutter took three months to craft, cut and polish the stone, after 5 months studying the original rough diamond.

The "Cullinan Mine" is known to be the only reliable source in the world for blue diamonds and only a minority of the diamonds found in it, contain even a trace of blue.

The diamond was discovered in January 2014 and was the largest cushion cut stone, with a Fancy Vivid color, to ever been sold on auction.

Blue and pink diamonds have indeed become ever so popular as was apparent by the attention they got after this week's jewels sale in Geneva.