SourcingMay 26, 2022
Q&A: Deciphering De Beers’ Blockchain PlatformSourcingJun 23, 2022
Rough Diamond Sales Rise Again for De Beers
Sales were up 36 percent year-over-year in June and are pacing 24 percent ahead of last year at this point.
De Beers Group reported rough diamond sales of $650 million in June, up from $477 million in roughly the same period in 2021 and $604 million in May. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films)
Gaborone, Botswana—De Beers Group’s rough diamond sales jumped 36 percent year-over-year in June, with the company attributing the increase to continued demand for diamond jewelry in the U.S. market.
De Beers reported Wednesday that sales of rough diamonds to sightholders and auction clients totaled $650 million in its fifth sales cycle of the year (June 6-21), compared with $477 million in roughly the same period last year.
Month-over-month, sales are up 8 percent from $604 million.
Year-to-date, De Beers’ rough diamond sales have totaled $3.13 billion and are now pacing 24 percent ahead of last year ($2.53 billion), up from 21 percent last month.
CEO Bruce Cleaver said diamond jewelry continues to perform well in the U.S. market, a trend reinforced by the positive sentiment in the trade following a busy and, many say, lucrative JCK Las Vegas show.
“The continued strength of U.S. demand for diamond jewelry and the gradual reopening of retail outlets in China following COVID-19-related lockdowns have supported the sales momentum of De Beers Group’s rough diamonds in the fifth sales cycle of the year,” he said.
Also helping to boost De Beers 2022 sales are the sanctions placed on Alrosa in light of Russia’s ongoing war in Ukraine, analysts have noted.
While the sentiment coming out of the Las Vegas trade shows largely is positive, the most recent reports about U.S. diamond and jewelry sales are mixed.
In its SpendingPulse report released June 14, MasterCard had jewelry sales increasing 22 percent year-over-year, and up 65 percent when compared with May 2019, pre-pandemic.
According to Mastercard SpendingPulse, US jewelry sales leaped 22% YoY in May. I doubt that growth against a fantastic 2021. Our data shows a 1.1% growth in jewelry and a 4.4% decline in diamonds.
— Edahn Golan (@edahn) June 16, 2022
That said, it's worth checking out.https://t.co/Gmh9KwPibc
In a tweet, diamond industry analyst Edahn Golan called into question MasterCard’s bullish report, particularly as 2022 sales are up against a “fantastic” 2021.
In an article on his own website on diamond sales, Golan cited data from Tenoris showing diamond unit sales in the U.S. were down 24 percent year-over-year in May and declined from the previous month, which is unusual since diamond sales usually rise in May due to Mother’s Day.
“The expected cool-down [in diamond sales] is here,” he wrote. “This was not only expected, but also reasonable considering the rising cost of fuel, housing, and household products, along with the tanking stock market.”
It is not “the end of the world,” he wrote, “but it is the end of a wild ride, at least for now.”
Golan also noted a decline in sales of engagement rings set with natural diamonds but rising interest in lab-grown diamonds among U.S. consumers, particularly for engagement rings.
More on Sourcing
The Latest
Policies & IssuesJul 01, 2022
U.S. Expands Sanctions to Russian GoldThe U.K, Canada, and Japan have also banned the import of gold originating from Russia.
Recorded WebinarsJul 01, 2022
Watch: What to Know About Livestream ShoppingJewelry marketing expert Laryssa Wirstiuk shares her tips and tricks for hosting a livestream shopping session.
CollectionsJul 01, 2022
Piece of the Week: Brent Neale x Edie Parker PendantThe brands have collaborated on a fine jewelry ode to cannabis.
Brought to you by
Preparing for Proposal Season with High-Quality, A.I.-Graded Natural Diamonds Rare & Forever is helping to create an enjoyable diamond buying experience for the millions of newly-engaged couples.
Supplier BulletinJun 30, 2022
Here’s Where You’ll Find The Best Online Jewelry AuctionsSponsored by HiBid
Weekly QuizJun 30, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
CrimeJun 30, 2022
What JSA’s Annual Report Tells Us About Jewelry Crime in 2021Plus, JSA President John Kennedy talks about the trajectory of industry crime over the last 20 years.
CrimeJun 30, 2022
Smash-and-Grab Robbers Hit Booth at TEFAF: Watch the VideoThe fair was evacuated temporarily Tuesday after four suspects smashed a showcase and stole jewelry from British jeweler Symbolic & Chase.
Brought to you by
Discover The Extraordinary Italian Jewelry In Las Vegas!Experience all the Italian Jewelry market has to offer in Las Vegas.
Events & AwardsJun 30, 2022
Nominations Are Open for Gem Awards 2023The 21st annual awards show and gala will take place in New York City next March.
Events & AwardsJun 30, 2022
Registration Open for JIS Fall in Miami The jewelry trade show is scheduled for Sept. 30-Oct. 3 at the Miami Beach Convention Center.
AuctionsJun 29, 2022
Bonhams Expands Again with Purchase of Paris Auction House It is the fifth acquisition under the ownership of private equity firm Epiris, which bought Bonhams in 2018.
MajorsJun 29, 2022
Zales Has a New Diamond CutThe “Celebration Infinite” diamond has more than three times the number of facets in a traditional brilliant-cut diamond, the retailer said.
WatchesJun 29, 2022
Bulova Introduces New Frank Sinatra WatchesThe brand again partnered with the Frank Sinatra School of the Arts High School to celebrate the launch of the “Summer Wind” watches.
SurveysJun 29, 2022
U.S. Platinum Jewelry Demand Starts 2022 on a Strong NoteRetail ounce sales were up 23 percent year-over-year in Q1, according to the recent Platinum Jewellery Business Review.
Events & AwardsJun 29, 2022
Registration Is Now Open for the HardRock Summit 2022Scheduled for Sept. 8-11, the event will comprise more than 310,000 square feet of show floor, exhibits, and education space.
ColumnistsJun 28, 2022
The PR Adviser: Why Should Someone Buy From You?If you’re having trouble answering this question, columnist Lilian Raji can help you get a started with a few fill-in-the-blank statements.
IndependentsJun 28, 2022
This Jeweler Is Celebrating 40 Years With 40 Days of GiveawaysContinental Diamond in Minneapolis is awarding a total of $25,000 in prizes via daily sweepstakes.
CollectionsJun 28, 2022
Melissa Kaye’s New Collection Doubles the Color“Lenox” marks the designer’s foray into bespoke jewels and large colored gemstones.
Events & AwardsJun 28, 2022
Second AGS Virtual Education Conference Is All About Negotiation Skills“Confluence” is happening in August.
MajorsJun 27, 2022
George Holmes, Longtime Head Editor of JCK Magazine, Dies at 93 He first took a job at then Philadelphia-based Jewelers’ Circular-Keystone in 1963 and retired in 1996.
MajorsJun 27, 2022
Mayors, Analog:Shift Team Up With GoopThe lifestyle platform will stock fine jewelry and watches from the retailers on its website and in store.
CrimeJun 27, 2022
JSA Warns of ‘Pandemic’ of Distraction Thefts Nationwide It cited two recent cases in California, plus incidents in Florida, Kansas, and Illinois.
IndependentsJun 27, 2022
Lewis Jewelers Set to Open New Ann Arbor Store This SummerThe 10,000-square-foot location allows for expanded collections from design partners while continuing custom design and other services.
CollectionsJun 27, 2022
This Designer Has Found a New Way to Bring Gemstones to LifeSvetlana Lazar’s “Wishing Well” collection utilizes an innovative component to mimic the movement of water beneath them.
Recorded WebinarsJun 24, 2022
Vegas Jewelry Recap: The Editors Weigh InWatch the webinar in which National Jeweler’s editors talk about jewelry market week trends and their predictions for the rest of 2022.
MajorsJun 24, 2022
Banter by Piercing Pagoda Celebrates Pride with ‘SayGay’ NecklaceAll proceeds up to $25,000 will benefit the It Gets Better Project, a nonprofit that supports LGBTQ+ youth.
