Sourcing

De Beers’ Rough Diamond Sales Decline Again

SourcingJun 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 from De Beers Gahcho Kue mine
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 … 

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. 

The Latest

The Nordstrom Men’s Store in New York City
MajorsDec 24, 2024
Nordstrom Family, Partner to Take Retailer Private in $6B Deal

Members of the founding family have partnered with Mexican retail company El Puerto de Liverpool to acquire Nordstrom.

Boucheron Las Vegas Storefront
MajorsDec 24, 2024
Boucheron Bets on Las Vegas

The brand has opened its second U.S. location in the Fontainebleau resort and casino.

B & B Fine Gems gemstone suite
EditorsDec 24, 2024
The Spectrum Jewels I Want to Find Under the Tree

Associate Editor Lauren McLemore highlights pieces from the AGTA Spectrum & Cutting Edge Awards she’d be thrilled to unwrap on Christmas.

ride_or_die_1872x1052.png
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday Campaign

A Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’

Tyrese Maxey The 1916 Company campaign
IndependentsDec 23, 2024
Philadelphia 76ers’ Tyrese Maxey Stars in The 1916 Company’s New Campaign

The retailer’s “On the Clock” campaign celebrates how time, precision, and purpose come together.

Weekly QuizDec 19, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Jewelry by Sorellina, Francesca Villa, Cece Jewellery, Retrouvai, Ray Griffiths, Cartier, Cocoerow Fine Jewelry, and Gumuchian
EditorsDec 23, 2024
My Favorite Piece of the Week Jewels of 2024

Associate Editor Natalie Francisco chose her 12 favorite Piece of the Week picks from the year gone by.

GIA emerald report
GradingDec 23, 2024
GIA Adds Filler Identification to Emerald Reports

Lab clients have the option to request this addition on their emerald reports.

me_myself_and_I_1872x1052 .jpg
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds

‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.

Ella Klein Interns Jamie Dunton and Gabriella Botelho
Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein Internship

Jamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.

Retrouvai Green Sapphire and Diamond Heirloom Bezel Ring for Charity
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for Charity

In the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.

DeVries Jewelers
IndependentsDec 19, 2024
Michigan’s DeVries Jewelers Unveils New Location in Time for the Holidays

Co-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.

State Property Gardens Collection Campaign
CollectionsDec 19, 2024
State Property Transforms Spain’s Generalife Gardens into Jewelry

Along with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.

Two people in a rowboat
CrimeDec 19, 2024
Alleged Jewelry Thieves Attempt Rowboat Escape

The man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.

Rough rubies
SourcingDec 19, 2024
Gemfields Reports Record Ruby Auction Results Despite Challenges at Source

The average price per carat hit a record high for the miner, which said it remains unaffected by the conflict in Mozambique.

alexandrite ring
AuctionsDec 18, 2024
Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’s

The nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.

Tiffany & Co. pocket watch gifted to captain of the Carpathia
WatchesDec 18, 2024
Historic Titanic Pocket Watch Winds Its Way Back to Tiffany & Co.

More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.

Picchiotti Spotlight Campaign Video Still
TechnologyDec 18, 2024
Picchiotti Utilizes AI in ‘Spotlight’ Video Campaign

The videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.

Steve Feldman
IndependentsDec 18, 2024
Industry Veteran Steve Feldman Set to Retire

Feldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.

Chanel Quilted Stars Necklace
Events & AwardsDec 17, 2024
Chanel to Receive Gem Award for High Jewelry Excellence

The luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.

Frank Circelli
SourcingDec 17, 2024
Frank Circelli, Founder of Gem Shopping Network, Dies at 75

Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.

Blue diamond ring
AuctionsDec 17, 2024
Blue Diamond Fetches $8.8M at Christie’s

The nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.

Stock image of a gavel, handcuffs, and books
CrimeDec 17, 2024
‘Black Bin Crew’ Robbers Get 14-16 Years in Prison

The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.

Cover of the new book “The History of Diamond Engagement Rings: A True Romance”
TrendsDec 16, 2024
Marion Fasel’s New Book Delves Into the History of Engagement Rings

“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.

Rolex store on Rodeo Drive
WatchesDec 16, 2024
Take a Look Inside the New Rolex Boutique on Rodeo Drive

Gearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.

GCAL 8X pear and marquise-cut diamonds
GradingDec 16, 2024
GCAL By Sarine Expands 8X to 2 More Fancy Shapes

The diamond cut grade is now available for marquise- and pear-shaped diamonds.

Claudia Cividino, Sissy’s Log Cabin, Shri Govind Dholakia, Tanishq
SourcingDec 16, 2024
Diamonds Do Good Announces 2025 Award Recipients

DDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.

Selena Gomez, Benny Blanco, Engagement Ring
TrendsDec 13, 2024
Selena Gomez Said ‘Forever Begins Now’ to Marquise Diamond Engagement Ring

Estimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.

×

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