Burton and Taylor were married first from 1964 to 1974 and then again from 1975 to 1976.
BBC: Richard Burton diaries reveal actor's passion and shame
Speaking at the unveiling, Sheen recalled the awe he felt when Burton and Taylor visited the village where he grew up.
And sure enough, as with Burton and Taylor, the union fell apart again, this time in 18 months, after they disagreed on how to grow the company.
"The same beach that I built my boyhood sand castles and learned to flailingly swim, it was that same beach, that one legendary day, Richard Burton and Elizabeth Taylor descended from the heavens, like gods from Olympus, in a helicopter ... and landed on those sands, " Sheen said.
The press likened their reunion to the ill-fated remarriage of Richard Burton and Elizabeth Taylor.
On the outskirts of the city, the villa was a popular getaway in the 1960s--attracting guests like Richard Burton and Elizabeth Taylor--and was restored in 2002.
Artefacts displayed at the screening included letters written by Richard Burton and Elizabeth Taylor, photographs, original scripts signed by Victor Spinetti and other members of the cast.
The wife chose the emerald, and the diamond went on to be acquired by Elizabeth Taylor and subsequently known as Taylor-Burton Diamond.
While America remains captivated by the sleaze and glamour of Hollywood, honouring an age-old tradition since the days of Elizabeth Taylor and Richard Burton, there will always remain an industry of people who can provide the goods.
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In 1925, Welsh stage and screen actor Richard Burton, twice married to and divorced from Elizabeth Taylor, born.
Burton married screen icon Elizabeth Taylor and their turbulent relationship is laid bare in the diaries to be published next month.
She also somehow got her husbands to buy her some of the rarest and most expensive jewelry in the world, including the 33 karat Krupp Diamond, the 69 karat Taylor-Burton Diamond, and the La Peregrina Pearl, once owned by Queen Mary I.
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