SourcingMar 02, 2023
Rio Tinto Making $40M Investment in Diavik Diamond MineSourcingMar 09, 2023
De Beers’ 2023 Sales Off to a Slower Start
New CEO Al Cook said the economic uncertainty that lingered in late 2022 caused sightholders to put off buying until later in 2023.
Rough diamonds from Gahcho Kué, De Beers’ diamond mine in Canada. The company’s rough diamond sales, including both sightholder and auction sales, totaled $495 million in late February/early March, down 24 percent when compared with the same period last year. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films)
Gaborone, Botswana—After a massive 2022, the new year is off to a slower start for De Beers Group.
Rough diamond sales for what De Beers terms its second sales cycle of the year (the period spanning Feb. 20 to March 7) totaled $495 million compared with $652 million in the second sales cycle of 2022.
That is a 24 percent year-over-year decline.
Compared to the first sales cycle of 2023 ($454 million), De Beers’ sales were up 9 percent.
So far this year, the company’s sales total $949 million through two rounds of sales, compared with $1.31 billion at this point in 2022, an exceptionally strong year for De Beers.
Demand for diamond jewelry, which spiked during the pandemic and has remained elevated, coupled with sanctions on Alrosa goods bolstered demand for the company’s diamonds in 2022.
De Beers finished the year with rough diamond sales totaling $5.79 billion, a 20 percent year-over-year increase. It was the first time since 2018 that the company’s annual rough sales topped $5 billion.
De Beers ramped up production to near-maximum capacity, mining 34.6 million carats, a 7 percent year-over-year increase.
Related stories will be right here …
Rough diamond sales for what De Beers terms its second sales cycle of the year (the period spanning Feb. 20 to March 7) totaled $495 million compared with $652 million in the second sales cycle of 2022.
That is a 24 percent year-over-year decline.
Compared to the first sales cycle of 2023 ($454 million), De Beers’ sales were up 9 percent.
So far this year, the company’s sales total $949 million through two rounds of sales, compared with $1.31 billion at this point in 2022, an exceptionally strong year for De Beers.
Demand for diamond jewelry, which spiked during the pandemic and has remained elevated, coupled with sanctions on Alrosa goods bolstered demand for the company’s diamonds in 2022.
De Beers finished the year with rough diamond sales totaling $5.79 billion, a 20 percent year-over-year increase. It was the first time since 2018 that the company’s annual rough sales topped $5 billion.
De Beers ramped up production to near-maximum capacity, mining 34.6 million carats, a 7 percent year-over-year increase.
De Beers’ latest sales results, released Wednesday, are the first under new CEO Al Cook, who started at the company two weeks ago.
Cook replaces Bruce Cleaver, who stepped down as CEO in early 2023 but became co-chairman of De Beers Group, serving alongside Anglo American executive Duncan Wanblad.
Cook described rough diamond demand as “steady” while also noting “positive trends” in diamond jewelry demand at the start of the year.
“In this, my first sight update to the market, I am pleased to see continued steady demand for rough diamonds in line with our expectations for sales as the year progresses. For example, we know sightholders planned more of their purchases for later in 2023, given the economic uncertainty at the time they were taking their planning decisions at the end of 2022,” he said, referring to the recession fears that permeated the market late last year.
“It is also encouraging to see some positive trends in end-client demand for diamond jewelry at the start of the year.”
Editors' Picks
Sponsored by
The Latest
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
