CollectionsJul 25, 2025
Piece of the Week: Jemma Wynne’s ‘Forme’ NecklaceAnne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”
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 & AwardsJul 25, 2025
Pre-Registration Open for September Hong Kong ShowJewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.
FinancialsJul 25, 2025
LVMH Sales Slip in H1 Amid ‘Prevailing Uncertainties’Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime AchievementMark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.
Weekly QuizJul 25, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 24, 2025
Francesca Villa Adds Dimension to Her Intaglio CharactersThe “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.
WatchesJul 24, 2025
Breitling Drops Super Bowl Watch Honoring the Philadelphia Eagles The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
CrimeJul 23, 2025
JSA Warns of Violent String of Smash-and-Grabs in California JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern IndiaThe “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHoCreative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.
IndependentsJul 23, 2025
IJO Raises Nearly $37K for LA Fire Relief Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.
CollectionsJul 22, 2025
Jewelry With a Rock ‘n’ Roll Aesthetic Heads to Sotheby’s LondonNext week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.
ColumnistsJul 22, 2025
The Gifting Gap: How to Market Jewelry Beyond the HolidaysEmmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.
Events & AwardsJul 22, 2025
NY Now’s Summer Market Returns in AugustThe wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.
MajorsJul 21, 2025
Rio Grande Expands Personalization OfferingsAs demand for custom jewelry grows, the company is expanding its services to support retailers.
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go VirtualThe mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement PlansHe retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
