Policies & IssuesDec 20, 2023
Lab-Grown Diamonds, Finished Jewelry to Fall Under G7 Ban, EU Says SourcingDec 21, 2023
De Beers’ Rough Diamond Sales Down 37% YOY
The company was up against tough comps and had to curtail sales as diamond demand waned.
De Beers Group sold $130 million worth of rough diamonds in its 10th and final sales cycle of the year (Nov. 9-Dec. 19). It finished the year with a rough diamond sales total of $3.63 billion, compared with $5.80 billion in 2022.
Gaborone, Botswana—De Beers Group finished 2023 with rough diamond sales totaling $3.63 billion, down 37 percent when compared with 2022.
The company faced tough comparables—2022 sales neared $6 billion, the company’s strongest showing in four years—and softer-than-expected demand due to inflation and the sluggish Chinese market.
De Beers holds 10 “sales cycles” per year, and the total for each generally includes sales of rough diamonds made to both sightholders and online auction customers.
Sales began declining steadily in the fourth sales cycle (May 1-16) and in the eighth (Sept. 18-Oct. 3), De Beers began pulling back on sales in earnest.
It canceled the remainder of its online auctions for the year and announced it was giving sightholders full flexibility on purchases in sights 9 and 10.
In mid-September, the company also announced plans for a $20 million marketing campaign for natural diamonds using the iconic “A Diamond Is Forever” tagline.
Related stories will be right here …
The company faced tough comparables—2022 sales neared $6 billion, the company’s strongest showing in four years—and softer-than-expected demand due to inflation and the sluggish Chinese market.
De Beers holds 10 “sales cycles” per year, and the total for each generally includes sales of rough diamonds made to both sightholders and online auction customers.
Sales began declining steadily in the fourth sales cycle (May 1-16) and in the eighth (Sept. 18-Oct. 3), De Beers began pulling back on sales in earnest.
It canceled the remainder of its online auctions for the year and announced it was giving sightholders full flexibility on purchases in sights 9 and 10.
In mid-September, the company also announced plans for a $20 million marketing campaign for natural diamonds using the iconic “A Diamond Is Forever” tagline.
De Beers moved $200 million in rough in sales cycle 8 (mid-September through early October), compared with $508 million in the prior-year period; and only $86 million in sales cycle 9, compared with $454 million.
In its 10th and final sales cycle of the year (early November through mid-December), rough diamond sales totaled $130 million, down 69 percent compared with $417 million in the same period last year but up 51 percent when compared with sales cycle 9.
On Wednesday, De Beers CEO Al Cook said there are signs the supply-demand balance is returning and polished diamond prices are stabilizing as wholesalers sell through more of their inventory.
Still, he said he expects the recovery in rough diamond trading conditions to be “gradual.”
More on Sourcing
The Latest
IndependentsDec 29, 2025
In Memoriam: Industry Friends We Lost in 2025From influential executives to innovative designers, we pay tribute to the people we said goodbye to this year.
MajorsDec 29, 2025
Tanishq Opens New Stores in Florida, VirginiaThe retailer is expanding into areas with large Indian and South Asian populations.
MajorsDec 29, 2025
Nanis Opens First Flagship Store The Italian brand has opened its first flagship amid the peaks of the Dolomites in Madonna di Campiglio, Italy.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CrimeDec 24, 2025
LA Jewelry District Couple Pleads Guilty to Hiding Millions from IRSThe couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysDec 24, 2025
Consumer Confidence Falls Again in DecemberConsumers shared concerns about prices, inflation, tariffs, trade, and politics in the survey’s write-in response section.
AuctionsDec 24, 2025
Bonhams to Open New U.S. Flagship in NYCIn February 2026, the auction house will move its headquarters to the former Steinway Hall, a neoclassical landmark on Billionaires’ Row.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
Events & AwardsDec 24, 2025
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
Events & AwardsDec 23, 2025
Bulgari Reimagines Costume Designers Guild AwardThe LVMH-owned brand has partnered with the costume design union to revamp its award for 2026.
MajorsDec 23, 2025
Kering to Acquire Stake in Raselli Franco GroupThe luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.
MajorsDec 23, 2025
For Future Reference Vintage Enters Bloomingdale’sThe company’s curation of unsigned vintage and estate jewelry debuted at the Bloomingdale’s in Costa Mesa, California.
CrimeDec 22, 2025
Customs Seizes Hundreds of Fake Rolex, Cartier WatchesIn the recent multi-shipment seizure, CBP also found counterfeit Audemars Piguet, Moncler, and Chrome Hearts items.
EditorsDec 22, 2025
How Helzberg Is Reimagining Its StoresHelzberg’s Chief Retail Officer Mitch Maggart shared details about its tests of a new store concept rooted in an elevated luxury experience.
Recorded WebinarsDec 22, 2025
2025 Jewelry Rewind: Looking Back on an Eventful Year Jewelers of America execs and National Jeweler editors discuss tariffs, the sky-high gold price, and the engagement that broke the internet.
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
MajorsDec 19, 2025
LVMH Names New Bulgari CEOLaura Burdese, who joined the Italian luxury brand in 2022, will take on the role in July.
EditorsDec 19, 2025
2025 Jewelry Superlatives: A Yearbook-Style Year in Review The National Jeweler editors revisit the most noteworthy industry happenings and design trends from 2025.
AuctionsDec 19, 2025
Jean Schlumberger’s ‘African Cat’ Is Purr-Fection Need a gift for the cat lover who has everything? Look no further than our latest Piece of the Week.
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
