CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
SourcingSep 14, 2018
Chinese Co. Buys 61,500-Carat Sapphire for $50M
Yulong Eco-Materials Ltd. said it will take the carved gem on a tour of museums around the world.
Discovered in 1995 in Madagascar, the Millennium Sapphire weighs 61,500 carats and was carved by well-known designer Alessio Boschi.
Pingdingshan, China—The 61,500-carat Millennium Sapphire has a new owner and could soon be back in the public eye.
Yulong Eco-Materials Ltd., manufacturer of eco-friendly building products and a construction waste management company, said it has agreed to acquire the gem in a $50 million deal.
The deal is contingent on YECO shareholder and NASDAQ approval.
The Millennium Sapphire was discovered in Madagascar in 1995. A consortium of investors, led by Asian entrepreneur Daniel McKinney, has owned the stone since then.
Rather than break it into smaller pieces, McKinney hired designer Alessio Boschi to carve the stone.
Boschi’s sculpted a tribute to the “creative genius of humanity” in the gemstone, according to the Millennium Sapphire owners’ website.
Beginning with a base of human figures supporting the four elements—air, water, earth and fire—the carvings then wind upward in a spiral depicting more than 134 figures that each represent a great mind, inventor or creator throughout recorded history.
This includes the Pyramids of Giza, Confucius, the Great Wall of China, Julius Caesar, Mayan hieroglyphic writing, Leonardo da Vinci, Christopher Columbus, Monet, Edison, Einstein and many more. 
A number of gem labs have had the chance to inspect and issue reports on the Millennium Sapphire, including the Gemological Institute of America, Gübelin Gem Lab and the Asian Institute of Gemological Sciences.
Also viewing the stone was Garry Du Toit, who is now with the GIA in Bangkok. According to its owners, he said: “It is definitely gem-grade sapphire, a fine gem blue color. Other famous blue sapphires cannot compare in terms of size, weight and quite possibly color.”
Christian Dunaigre, formerly with Gübelin, said the sapphire is “everyone’s dream.”
In 2001 the Guinness Book of World Records recognized it as the largest carved sapphire in the world at 61,500 carats. (A multi-colored carved sapphire weighing 80,500 carats topped it four years later.)
The Millennium Sapphire has been largely out of the public eye for more than a decade now, resurfacing briefly in 2013 when the consortium of investors who owned the stone went looking for a buyer.
Yulong said it plans to take the Millennium Sapphire on a tour of museums around the world as well as develop documentaries around it and encourage filmmakers to use the massive gemstone in their movies.
“We will develop the business and cash flows of
the Millennium Sapphire through branding and licensing along with royalties and ticket sales through major museums worldwide,” CEO Hoi Ming Chan said. “We will retain some of the top art and promotions experts globally to develop and manage this once-in-a-lifetime opportunity.”
More on Sourcing
The Latest
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsJun 24, 2026
CaratLane Names New Chief Sales OfficerDhaval Raja has been appointed to the role.
Weekly QuizJun 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
GradingJun 17, 2026
SSEF Issues Warning on Refilled EmeraldsThe lab is seeing emeralds with filler added post-testing enter the market, accompanied by reports that indicate little to no treatment.
WatchesJun 17, 2026
Patek Philippe’s ‘Visionary’ Leader Philippe Stern Dies at 88 The third generation of the Stern family to head Patek Philippe, he navigated the “quartz crisis” and preserved the brand’s independence.
MajorsJun 17, 2026
James Avery to Revamp In-Store Retail ExperienceThe Texas-based jeweler is gradually rolling out a new experience-forward layout in its stores.
MajorsJun 17, 2026
Seahawks’ Super Bowl Ring Blends Meaningful Design, Technical CraftsmanshipThe Super Bowl LX champions were honored with diamond and blue sapphire rings by Jason of Beverly Hills.
Policies & IssuesJun 17, 2026
Community for Ethical Jewelry Names New Executive DirectorMarianna Smirnova previously spent a decade working with the Responsible Minerals Initiative, in addition to other relevant roles.
MajorsJun 16, 2026
5 Things to Know About the 2026 NBA Championship TrophyThe New York Knicks took home the Larry O'Brien Trophy crafted by Tiffany & Co.
TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
SourcingJun 16, 2026
GemGuide Updates Ruby PricesIts app now reflects increased prices for Mozambique ruby, as well as changes to its Burma ruby charts.
MajorsJun 16, 2026
Sasha Primak Hires New Design DirectorThe manufacturer has tapped Alicia Arnold, the former director of custom design at Tiny Jewel Box.
IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
