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
MajorsOct 27, 2025
Target to Cut 1,800 Corporate JobsThe retailer, which has faced struggling sales in recent quarters, is looking to streamline its operations.
AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives ReplacedLondon-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument DemoThe workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.
Brought to you by
DESERT DIAMONDS: The Newest Trend in Natural Diamond JewelryFrom sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ EarringsFounder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, KeringThe luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.
Brought to you by
Are Earrings an Overlooked Category? What Retailers Need to Know NowAs the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch HistoryThe book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & WatchesAlexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds EditionThe superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the HolidaysRetailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva AuctionThe nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New PerchChief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume ChallengeFive dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New OwnerRecently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink DiamondThe stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.
MajorsOct 21, 2025
Pomellato Brings ‘Global Attitude’ to Rodeo Drive FlagshipHollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.
Lab-GrownOct 21, 2025
Grown Brilliance Opens First FlagshipThe New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.
Events & AwardsOct 21, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MADThe Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.
AuctionsOct 20, 2025
Sotheby's To Auction 10-Carat Vivid Pink DiamondMaking its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.
SourcingOct 20, 2025
2 Mozambique Police Officers Killed at Gemfields’ Ruby MineThey were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.
CrimeOct 20, 2025
See the ‘Priceless’ Jewels Stolen During Daytime Heist at the Louvre It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.
SourcingOct 20, 2025
Pristine Gems Names New Director of European SalesGemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.
Events & AwardsOct 17, 2025
An Edit of Italian Jewels Is Coming to NYCThe new showcase dedicated to Italian jewelry design is set for Oct. 29-30.
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ EarringsTake a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.
