Miners’ Year-Over-Year Sales Dip in October, November
Some question if the rough market is cooling off even as diamond jewelry sales to end consumers remain strong.

In the ninth sales cycle of the year (Nov. 8-23), De Beers Group moved $430 million in rough diamonds, down 7 percent year-over-year—its first year-over-year decline of 2021—and down 13 percent from $492 million in the previous sales cycle.
De Beers CEO Bruce Cleaver attributed the slowdown to cutting factory closures in India on and around the Diwali holiday (observed Nov. 2-6). De Beers also noted that factories in India chose to have shorter Diwali breaks in 2020 to take advantage of the market recovery.
He projected the slowdown would continue into sales cycle 10, the final sales cycle of the year, as factories in South Africa shutter for Christmas.
However, in a post on LinkedIn, industry analyst Edahn Golan questioned if De Beers’ cycle 10 slowdown is a signal the rough market is cooling off, not a Diwali-related drop-off.
Cleaver said De Beers expects to see “positive conditions” for the industry in the new year following what’s expected to be a strong holiday season for diamond jewelry sales.
Year-to-date, De Beers’ rough diamond sales total stands at $4.48 billion, up 89 percent from $2.36 billion in the same period last year, though it is worth noting De Beers had one less sales cycle in 2020 because of the pandemic.
Compared with year-to-date 2019 ($3.6 billion), De Beers’ sales are up 24 percent.
In October, Alrosa’s diamond sales totaled $308 million ($293 million in rough and $15 million in polished), a slight dip when compared with $310 million in diamond sales in October 2020. This is the second month in a row the miner has recorded a year-over-year decline in monthly sales.
Alrosa’s October sales were, however, up 3 percent from September’s total of $298 million.
Year-to-date, the miner has sold $3.58 billion in rough and polished diamonds, 89 percent ahead of where it was at this point last year.
Deputy CEO Evgeny Agureev said jewelry demand continues to increase by double digits in key markets, a trend both retailers and cutters see continuing through the end of the year, while rough diamonds remain in short supply due to cuts in diamond production.
It’s an imbalance Alrosa said it aims to correct, while keeping in mind the health of the mid-stream.
“As end consumer demand for natural diamond jewelry remains high, Alrosa aims to gradually restore the supply and demand balance, despite the limited capacities to increase production,” he said. “At the same time, we are committed to our policy of selling rough diamonds only against actual demand.”
The Latest

Carlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.

The brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.

Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.

The upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.

Citizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.


The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.

Amit Pratihari was previously the managing director of De Beers India and Forevermark India.

Gomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.

Diamond industry banking veteran Paul De Wachter will take on the role in January 2026.

Taylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”

Its “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.

Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.

“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.

The month’s birthstones, tourmaline and opal, complement the palette of autumn.

Smith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.

Associate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.

Respondents were concerned about job availability and rising prices.

Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.

Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.

Two men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.

The “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.

The brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.

She was remembered as a creative and generous woman of faith, who also had a sweet tooth.

Move over neck mess, the ear story is the way to make a layering statement today.

The New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.

The “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.