Sourcing

De Beers’ Oct/Nov Rough Sales Total $450M

SourcingNov 17, 2022

De Beers’ Oct/Nov Rough Sales Total $450M

As in September, the company’s sales were up slightly year-over-year but down month-to-month.

De Beers Group reported rough diamond sales of $450 million during the ninth sales cycle of the year (Oct. 31-Nov. 15), a 3 percent increase year-over-year but an 11 percent decline from the eighth sales cycle. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films)
Gaborone, Botswana—De Beers Group’s rough diamond sales topped $400 million in its ninth sales cycle of the year, a single-digit increase over the same period last year.

The company’s rough diamond sales (counting both sightholder and auction sales) for the sight period Oct. 31-Nov. 15 totaled $450 million, increasing 3 percent year-over-year from $438 million but declining 11 percent from $508 million in the previous sales cycle.

It’s a continuation of the pattern first noted last month—De Beers’ rough diamond sales are increasing only slightly year-over-year and declining month-to-month, a sign of softening demand in what has been a red-hot diamond market.

In October, CEO Bruce Cleaver said sales were in line with expectations for this time of year as polishing factories in India prepared to shut down for Diwali. 

 Related stories will be right here … 

He noted the impact of Diwali again in November. 

“We saw good demand for our rough diamonds during cycle 9, with sales reflecting what is traditionally a quieter time for the diamond midstream ahead of polishing factories reopening in India following the Diwali holidays,” Cleaver said. 

Year-to-date, De Beers’ rough diamond sales remain ahead of 2021 totals, though the gap is narrowing. 

Sales through the ninth sales of 2022 are nearing $5 billion ($4.99 billion), compared with about $4.5 billion ($4.49 billion) at the same time last year.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

FinancialsDec 06, 2022
Signet Anticipates Solid Holiday Season, Raises Guidance

The jewelry giant posted a decline in same-store sales in the third quarter but is gearing up for a season of growth.

TrendsDec 06, 2022
Pantone’s 2023 Color of the Year Is A Lot Like Rubellite, Spinel, Ruby

“Viva Magenta” easily finds its colored gemstone counterparts.

AuctionsDec 06, 2022
Jewels from the Sunken ‘Ship of Gold’ Smash Auction Estimates

Holabird Western Americana Collections offered hundreds of treasures recovered from the S.S. Central America in its Dec. 3 sale.

Brought to you by
How To Buy Colored Gemstones

Give your customers the full gemstone buying experience by using the 6C's.

ColumnistsDec 06, 2022
The Smart Lab: 6 Holiday Email Marketing Strategies To Boost Sales

From creating catchy subject lines to retargeting abandoned carts, Emmanuel Raheb has a half-dozen pieces of email marketing advice.

Weekly QuizDec 01, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
IndependentsDec 06, 2022
CD Peacock Names VP of Client Engagement, Experience

Qi Holtzman is a member of the second generation to run the family-owned Chicago area jeweler.

IndependentsDec 05, 2022
Holocaust Survivor and Jeffrey Mann Jewelers Matriarch Rena Mann Dies

Mann, who opened the Ohio jewelry store with her husband and son in 1984, was 95.

Brought to you by
Knowledge and Skills for Today’s Hot Topics

From laboratory-grown diamonds to design to country-of-origin, GIA's Alumni Collective™ has a seminar to suite your needs.

TechnologyDec 05, 2022
Timex Ticks into the Metaverse with Bored Ape Yacht Club

The watch brand will create 500 custom timepieces for holders of Bored Ape Yacht Club NFTs.

EditorsDec 05, 2022
Meet Jewelry’s First TikTok Star

When it comes to translating luxury into the social media platform’s approachable style, JewelsWithJules has cracked the code.

Events & AwardsDec 05, 2022
WJA Foundation Awards Nearly $60K in Scholarships for 2022-2023

Scholarship winners received awards in six different categories.

AuctionsDec 02, 2022
Here’s How 2 Royal Jewels Performed at Auction in Denmark

A princess’s tiara fell within its pre-sale estimate while an Art Deco bracelet from a queen doubled it.

CollectionsDec 02, 2022
Piece of the Week: Foundrae’s Chain

A closer look at the bold links reveals a subtle, surprising detail.

Supplier BulletinDec 01, 2022
Take Your Jewelry Design Process Digital with the GIA Alumni Collective™

Sponsored by GIA Alumni Collective™

WatchesDec 01, 2022
Rolex to Certify Pre-Owned Watches

Retailers within its official distribution network will be able to sell the authenticated timepieces.

CollectionsDec 01, 2022
Kendra Scott’s New Collection is for Barbie Girls

The capsule collection combines the brand’s classic styles with Barbie’s signature pink color.

AuctionsDec 01, 2022
13-Carat Pink Diamond Withdrawn From Christie’s Auction

The auction house is not offering any details on why the fancy vivid pink stone was pulled from its upcoming “Magnificent Jewels” sale.

SourcingDec 01, 2022
Nomad’s Is Selling Its Stones to Raise Money for Ukraine Again

In the spirit of an advent calendar, “Gems to Help Ukraine” will sell a stone a day through Dec. 24 on the Nomad’s Instagram account.

GradingDec 01, 2022
PhotoScribe Granted Patent for Method that Verifies a Stone’s Identification

The secure mark combines an overt mark with a covert data set to provide assurance on a gem.

SurveysNov 30, 2022
5 Things Retailers Should Know About the Start to the Holiday Season

Plus, what a potential rail strike would mean for retailers.

WatchesNov 30, 2022
Watchfinder & Co. Will Launch a Marketplace Next Year

It will provide a place for select luxury watch retailers to sell their stock.

MajorsNov 30, 2022
Pomellato Buys Into Italian Goldsmith

The brand has purchased a minority stake in Costanzo & Rizzetto.

SourcingNov 30, 2022
Firestone Restarts Operations of Lesotho Diamond Mine

Liqhobong has been in a care-and-maintenance period since the start of the pandemic.

MajorsNov 29, 2022
LVMH Acquires Jewelry Manufacturer Pedemonte Group

The strategic acquisition will bolster the luxury titan’s production capacity in its watch and jewelry division.

CollectionsNov 29, 2022
Alex and Ani Founder Carolyn Rafaelian Has Launched a Fine Jewelry Line

The new brand, Metal Alchemist, focuses on unisex, classic jewelry designs.

IndependentsNov 29, 2022
Reinhold Jewelers’ Holiday Book Is an Ode to an Important Beverage

The 2022 edition of the retailer’s annual publication pays homage to the coffee farms and shops of Puerto Rico.

CollectionsNov 29, 2022
Gabriel & Co.’s ‘Fashion Book’ Is Out

Not a catalog, the magazine is a tool for Gabriel & Co. retailers to connect with their customers.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy