The money from the deal will be paid into a charitable trust fund for the benefit of Pitt Island
's 55 inhabitants.
However, because of the way the earth travels round the sun, some experts say the first land to see in the dawn will be tiny Pitt Island
off the east coast of New Zealand.
Norris McWhirter, of Guinness Book of Records fame, says the first inhabited place will be Pitt Island
, in the Chatham Islands group, 500 miles east of New Zealand.
According to their calculations, the sun will rise over the 231-metre summit of Mount Hapeka on Pitt Island
, the most easterly inhabited island in the group, at 03:59 (15:59 GMT) on the morning of 1 January 2000.
Guinness Book Of Records co-founder Norris McWhirter has bought the highest hill on Pitt Island
near New Zealand for TV crews and tourists who want to be among the first to see the new millennium sunrise.
Born and raised on Pitt Island
, she was very aware from an early age of the challenges of providing health care to a remote community.
The town is also due to take part in an internationally televised live dawn programme that will broadcast the sunrise on January 1 from the slopes of Pitt Island
in the Chatham Islands group east of the New Zealand mainland and from Mount Hikurangi near Gisborne.
They are determined their homestead on Pitt Island
, 600 miles off New Zealand, will be the first spot to welcome the new Millennium.
On Pitt Island
, all 14 school-aged children have been immunised, with the local nurse assisted by a Chatham Islands' nurse, who arrived by plane with a chilly-bin of vaccine.
Experts have earmarked Hakepa Hill on Pitt Island
, east of New Zealand.
Moriori is an imi (tribe) of Rekohu (Chatham Island) and Rangihaute (Pitt Island