Policies & IssuesNov 04, 2025
Supreme Court to Hear Tariffs Case WednesdayAhead of the hearing, two industry organizations co-signed an amicus brief urging the court to declare Trump’s tariffs unlawful.
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
MajorsNov 04, 2025
Danny Clark to Become Stuller CEO, Succeeding Matt StullerStuller COO Belit Myers will take on the additional role of president, with all changes effective at the start of 2026.
ColumnistsNov 04, 2025
Peter Smith: What Do Birds Have to Do With the Price of Gold? Smith cautions retailers against expending too much energy on things they can’t control, like the rising price of gold.
Brought to you by
Jewelers of America Aligns New Mission to Create Meaningful Impact for MembersFrom educational programs, advocacy, and recent MJSA affiliation, Jewelers of America drives progress that elevates businesses of all sizes.
TrendsNov 04, 2025
Amanda’s Style File: Fall Colors for November BirthdaysCitrine and topaz are birthstones fit for fall as the leaves change color and the holiday season approaches.
Weekly QuizOct 30, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsNov 04, 2025
Weston Jewelers Heads to Fort LauderdaleThe family-owned jeweler will open its fourth store in Florida in late 2027.
CrimeNov 03, 2025
Men Dressed as Construction Workers Burglarize Jeweler’s Home The NYPD is looking for three men who stole a safe and jewelry valued at $3.2 million from the home of a jeweler in Jamaica Hills, Queens.
MajorsNov 03, 2025
Matthew Rosenheim Takes Over as JA Board ChairThe trade organization also announced its executive committee and five new directors.
CollectionsNov 03, 2025
Muse’s ‘Have a Heart’ Collab Returns, Now With DDGThe “Have a Heart x Diamonds Do Good” collection is championed by model and humanitarian Flaviana Matata and will benefit her foundation.
AuctionsNov 03, 2025
Kashmir Sapphire Ring Tops Christie's Online AuctionThe ring, set with a nearly 17-carat Kashmir cabochon sapphire, sold for $1 million.
TrendsOct 31, 2025
Piece of the Week: A Spinner Fit for ‘Frankenstein’This “Mother Father” spinner necklace from Heavenly Vices Fine Jewelry draws inspiration from Victorian Era jewelry.
CrimeOct 31, 2025
5 More Arrested in Louvre Heist, Jewelry Still Missing The suspects were rounded up in Paris and its suburbs on Wednesday night, but none of the stolen jewels were recovered with them.
Recorded WebinarsOct 31, 2025
Watch: How to Master Google Reviews for Your BusinessExperts share top tips on how to encourage positive reviews and handle negative feedback.
Supplier BulletinOct 30, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
CrimeOct 30, 2025
29-Year-Old Man Charged in Multiple Seattle-Area Smash and Grabs The suspect faces charges in the August robbery of Menashe & Sons Jewelers and is accused of committing smash and grabs at two pawn shops.
Lab-GrownOct 30, 2025
Alison Lou’s New Collection Uses Lab-Grown Diamonds and ResinThe “Lumière Fine” collection was born from designer Alison Chemla’s interest in the transformative power of light.
TrendsOct 30, 2025
Amanda’s Style File: A Haunted HalloweenShow off your spooky side with these 12 festive jewels.
Events & AwardsOct 30, 2025
Jewelers Mutual to Host Jewelry Panel at Frazier History MuseumThe “Brilliant & Beyond” panel coincides with the “Love & Marriage” exhibition curated by Davis Jewelers in Louisville, Kentucky.
Events & AwardsOct 29, 2025
October Brings Little Change to Consumer Confidence Consumers are feeling more optimistic about their present situation while the short-term future remains a little scary.
Events & AwardsOct 29, 2025
Couture Partners With Time to WatchesThe company, which organizes a watch show in Geneva every spring, will bring a selection of watch brands to the 2026 Couture show in Vegas.
TrendsOct 29, 2025
Beth Bernstein Releases Vintage Jewelry Guide“The Modern Guide to Vintage Jewellery” follows the evolution of jewelry design from the ‘30s to the ‘80s with buying and styling advice.
EditorsOct 29, 2025
Why Creepy, Crawly Bugs Inspire Beautiful JewelryFor her annual Halloween story, Senior Editor Lenore Fedow explores the symbolism behind spiders, beetles, and other eerie insects.
Events & AwardsOct 28, 2025
Meet the 2026 Gem Award NomineesNotable jewelry designers, members of the press, and retailers are up for an award at next year’s gala.
Recorded WebinarsOct 28, 2025
Watch: The State of the Jewelry Industry Leaders from Jewelers of America and National Jeweler discuss the gold price, tariffs, and more in this one-hour webinar.
CollectionsOct 28, 2025
Eriness Reflects on Life in ‘One of One’ CollectionAfter experiencing motherhood, growth, and loss, founder and designer Erin Sachse has created 10 irreplaceable jewels.
AuctionsOct 27, 2025
Napoleon Left This Brooch Behind, And Now It’s Up For AuctionIt is part of Sotheby’s “Royal & Noble Jewels” sale along with an ornate hair ornament and an old mine-cut light pink diamond ring.
