SourcingOct 26, 2023
De Beers Production Declines 23 Percent in Q3 SourcingNov 21, 2023
De Beers’ Rough Diamond Sales Sink to $80M
India’s voluntary moratorium on rough diamond imports coupled with a stunted recovery in China continue to impact the miner.
Rough diamonds from De Beers Group’s Gahcho Kué mine in Canada. In its next-to-last sales cycle of 2023, the company’s rough diamond sales dropped to $80 million, a record low since the company began reporting sight results in 2016. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films)
Gaborone, Botswana—Rough diamond sales sunk to a new low for De Beers Group in its latest round of sightholder sales due to India’s mortarium on imports and the stunted retail recovery in China, it said.
Rough diamond sales totaled just $80 million between Oct. 4 and Nov. 3, compared with $454 million in the same period last year.
It is the lowest total for the diamond miner and marketer since it began reporting sight results in 2016, sinking even below pandemic levels.
Year-to-date, De Beers is now pacing 35 percent behind its 2022 sales total.
Through the beginning of November, De Beers’ 2023 rough diamonds sales have totaled $3.49 billion, compared with $5.38 billion at this point last year, when De Beers had a stellar year with rough sales nearing $6 billion.
Related stories will be right here …
Rough diamond sales totaled just $80 million between Oct. 4 and Nov. 3, compared with $454 million in the same period last year.
It is the lowest total for the diamond miner and marketer since it began reporting sight results in 2016, sinking even below pandemic levels.
Year-to-date, De Beers is now pacing 35 percent behind its 2022 sales total.
Through the beginning of November, De Beers’ 2023 rough diamonds sales have totaled $3.49 billion, compared with $5.38 billion at this point last year, when De Beers had a stellar year with rough sales nearing $6 billion.
Commenting on the company’s latest sales results, CEO Al Cook said: “Macro-economic challenges continue to affect the diamond sector. The retail recovery in China remains slow, and the voluntary import moratorium on rough diamonds into India will see extended Diwali holidays and factory closures in the world’s largest diamond cutting center.”
Because of this, De Beers continued to allow sightholders to buy as little or as much rough as they wanted to in the ninth sales cycle in an effort to help rebalance supply and demand in the midstream.
The company’s 10th and final sales cycle of the year will take place next month.
More on Sourcing
The Latest
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesThe luxury giant discussed the Middle East conflict and its transformation plans, hinting at a stronger jewelry presence in North America.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
FinancialsApr 14, 2026
LVMH’s Q1 Sales Sink 6% Amid Middle East ConflictPlus, how Saks Global’s bankruptcy affected the luxury giant’s first quarter.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
CrimeApr 13, 2026
JSA Offers Reward in Oregon Jewelry Store Armed RobberyJSA is seeking information about the gunpoint robbery of a Kay Jewelers location in Oregon’s Washington Square Mall.
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
MajorsApr 09, 2026
Tiffany & Co. Promotes Nathalie Verdeille to SVP, Chief Artistic OfficerIn her newly expanded role, she will continue to oversee the jewelry category, as well as watches, home, and accessories.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
