SourcingJun 14, 2023
Price, Color and Supply Trends: A Colored Stone Market UpdateSourcingJun 22, 2023
De Beers’ Rough Diamond Sales Decline Again
CEO Al Cook said macroeconomic challenges are impacting consumer demand, making the industry cautious about the second half of the year.
Rough diamonds from the Gahcho Kue in Canada, one of De Beers Group’s mines. The company’s rough diamond sales were down 32 percent year-over-year and 6 percent month-over-month in June.
Gaborone, Botswana—De Beers Group’s rough diamond sales declined for the third month in a row in June, with the company’s CEO describing the diamond industry’s outlook as “cautious” heading into the summer months.
De Beers said Wednesday that rough diamond sales to sightholders and auction customers totaled $450 million in the fifth sales cycle of the year, covering the period of June 5-20.
That is down 32 percent from $657 million in the fifth sales cycle of 2022, and down 6 percent from $479 million in rough diamond sales in May.
Last month, De Beers said it would be combining the auctions for its fifth and sixth sales cycles this year in response to a slowdown in demand. The company sells about 10 percent of its production via auctions, with the remaining 90 percent going to sightholders.
Related stories will be right here …
De Beers said Wednesday that rough diamond sales to sightholders and auction customers totaled $450 million in the fifth sales cycle of the year, covering the period of June 5-20.
That is down 32 percent from $657 million in the fifth sales cycle of 2022, and down 6 percent from $479 million in rough diamond sales in May.
Last month, De Beers said it would be combining the auctions for its fifth and sixth sales cycles this year in response to a slowdown in demand. The company sells about 10 percent of its production via auctions, with the remaining 90 percent going to sightholders.
CEO Al Cook said Wednesday that ongoing global macroeconomic challenges are impacting consumer demand, which in turn is affecting demand for rough diamonds.
“Reflecting this, we saw demand for De Beers rough diamonds during the fifth sales cycle of the year slightly softer than the fourth cycle,” he said.
Year-to-date, the gap between De Beers’ 2023 sales and 2022 sales continues to widen.
Through the fifth sales cycle of 2023, sales total $2.42 billion, down 23 percent when compared with $3.14 billion in sales at the same point last year.
In May, the sales differential stood at 18 percent, $2.03 billion versus $2.48 billion a year ago.
More on Sourcing
The Latest
EditorsSep 12, 2025
Out & About: Mining Sapphires in Rock Creek, MontanaAssociate Editor Lauren McLemore headed out West for a visit to Potentate Mining’s operation hosted by gemstone wholesaler Parlé Gems.
TrendsSep 12, 2025
Piece of the Week: Arunashi’s Fordite and Rhodolite EarringsFordite is a man-made material created from the layers of dried enamel paint that dripped onto the floors of automotive factories.
Events & AwardsSep 12, 2025
Al Gilbertson Wins 2025 Robert M. Shipley AwardGilbertson has worked as a researcher, jeweler, lapidary artist, appraiser, and business owner throughout his decades in the industry.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
Policies & IssuesSep 11, 2025
Supreme Court to Hear Tariffs Case in November A decision likely won’t come until January 2026 at the earliest, and the tariffs remain in effect until then.
Weekly QuizSep 12, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsSep 11, 2025
Tabayer Opens Nordstrom Shop-In-ShopLocated in the revamped jewelry hall at the retailer’s New York City flagship, this opening is Tabayer’s first shop-in-shop.
MajorsSep 10, 2025
Stuller to Swap Gold Scrap for Full Credit to AccountAs the gold price rises, the manufacturer is offering a 100 percent payout through Sept. 30 for gold clean scrap.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
TrendsSep 10, 2025
Tiffany & Co. Archival Jewels Bring Life to ‘Frankenstein’Guillermo del Toro’s 2025 “Frankenstein” will feature 27 jewels and objects from the storied brand, including pieces from its archives.
MajorsSep 10, 2025
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe Waldorf Astoria New York’s grand reopening this past summer means a homecoming for the industry group’s annual event.
SourcingSep 09, 2025
Anglo American to Merge With Canadian Copper Miner Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.
AuctionsSep 09, 2025
‘The Mellon Blue’ to Return to Auction, This Time at Christie’s The 9.51-carat fancy vivid blue diamond, which set two world auction records at Sotheby’s in 2014, is estimated to fetch up to $30 million.
AuctionsSep 09, 2025
Phillips Names Dianne Batista Head of Jewels, New YorkThe industry veteran joins the auction house as it looks to solidify its footprint in the jewelry market.
MajorsSep 09, 2025
MJSA Education Foundation Announces 2025 Scholarship WinnersThe nonprofit awarded four students pursuing a professional career in jewelry making and design with $2,250 each.
IndependentsSep 08, 2025
Take a Look Inside the New Korman Store in AustinThe Texas-based jeweler has also undergone a brand refresh, debuting a new website and logo.
MajorsSep 08, 2025
MJSA Is Officially Now Under JA’s UmbrellaThe two organizations have finalized and signed the affiliation agreement announced in May.
AuctionsSep 08, 2025
Sotheby’s To Auction ‘Exceptional’ Collection of JAR, Suzanne Belperron JewelsThe single-owner sale will headline Sotheby's inaugural jewelry auction at the Breuer building, its new global headquarters, this December.
Events & AwardsSep 08, 2025
27 Can’t-Miss Converge Sessions, Events From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.
ColumnistsSep 05, 2025
Peter Smith: A Lasting Lesson From Maurice Tempelsman Smith recalls a bit of wisdom the industry leader, who died last week, shared at a diamond conference years ago.
CollectionsSep 05, 2025
Piece of the Week: Jamie Turner’s ‘Victoria’ Necklace The “Victoria” necklace features a labradorite hugged by diamond accents in 18-karat yellow gold.
Policies & IssuesSep 05, 2025
Trump Takes Tariffs Case to the Supreme Court Two lower courts have moved to block the import taxes, which will remain in place as the legal battle continues.
WatchesSep 05, 2025
Patrick Mahomes Is the New Hublot Brand AmbassadorThe Kansas City Chiefs quarterback shares Hublot’s dedication to pursuing greatness, the Swiss watchmaker said.
SourcingSep 04, 2025
Lucara Unveils Unusual 37-Carat Pink DiamondThe Type IIa stone, recovered from Botswana’s Karowe diamond mine last month, features unique coloration.
WatchesSep 04, 2025
Breitling Takes Its NFL Game to the Next Level Breitling is now the NFL’s official timepiece partner, a move that puts the brand in front of the millions of Americans who watch football.
Events & AwardsSep 04, 2025
The NYC Jewelry, Antique, & Object Show Returns in NovemberNYCJAOS is set for Nov. 21-23 in New York City’s Chelsea neighborhood.
SourcingSep 03, 2025
Gemfields Confirms Completion of Fabergé SaleU.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.
