AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
SourcingDec 13, 2017
2017 Global Diamond Report Key Takeaways
The Antwerp World Diamond Centre and Bain & Company said global diamond sales are expected to grow.
Antwerp--The Antwerp World Diamond Centre (AWDC) and Bain & Company have released their seventh annual global diamond report, covering 2016 and the first half of 2017.
The report examines all parts of the diamond pipeline: rough diamond sales and production; the cutting and polishing midstream sector and polished prices; retail sales; and the overall industry outlook for the next decade-plus, including the challenges it faces.
Here are seven key takeaways from the report.
1. Rough diamond sales were up in 2016.
After a tough 2015 in which rough diamond producers accumulated surplus inventories, they were able to sell off a lot of the excess inventory in 2016 to cutters and polishers, increasing revenues by 20 percent.
Overall, rough diamond prices increased in 2017 after decreasing the previous two years.
2. Rough diamond production was flat.
In 2016, miners produced 127 million carats of rough, a number that is in line with the past eight years of production.
Production increased in Canada, as the Gahcho Kué mine officially opened in September 2016 and the Ekati mine increased production, as well as in South Africa, where the Kimberley mine saw increased underground mining.
Russia saw a decline in production due to the closure of the Udachnaya open-pit mine and Zimbabwe stopped production in seven of its nine deposits as the sector consolidated surplus product.
3. The cutting and polishing sector saw profits slip.
Cutters and polishers experienced a slight decrease in year-over-year profits in 2016.
As mentioned previously, the rough diamond industry benefited from the cutting and polishing sector’s increased purchase of surplus rough in 2016; overall, cutters and polishers bought about 20 percent more diamonds (in value terms) than in 2015.
India now accounts for approximately 90 percent of the polished diamond industry by value.
4. Diamond jewelry retail sales stabilized in 2016 and are headed upward.
Global retail sales figures for diamond jewelry in 2016 were stable after a poor 2015.
Retail sales in the United States increased, though not for several major jewelry retailers, which experienced a sales decrease.
In the first quarter of 2017, many major jewelry retailers experienced a sales decline but saw revenues pick up in the second quarter.
The AWDC and Bain & Co. concluded that some retailers are losing sales to online competition. The global diamond report noted that Signet Jewelers’ purchase of JamesAllen.com and private equity groups’ acquisition of Blue Nile highlight the
Editors' Picks
Sponsored by
importance of an omnichannel approach to diamond retail sales.
Elsewhere, China’s lowest yuan values in a decade led to sales decreases in 2016, though as the currency stabilized in 2017 sales increased. India likewise rebounded in the first half of 2017 after the demonetization crisis of 2016.
Overall, diamond jewelry sales are expected to grow in 2017.
5. Lab-grown diamonds remain a key challenge for the natural diamond industry, but it’s likely the industries can live in harmony.
In the same way the colored gemstone market exists alongside the diamond market, the global diamond report asserted that demand for lab-grown diamonds need not significantly affect the natural diamond industry.
However, it’s important to develop cheaper and more effective detection tools to protect the integrity of the natural diamond supply, the report noted.
6. The diamond industry must step up its marketing efforts to increase consumer demand.
The diamond industry isn’t experiencing the same growth now that it did in the 20th century when “A Diamond is Forever” became one of the most successful marketing slogans of all time.
This century, generic diamond marketing from rough diamond producers has decreased, and retailers and stores are focused on marketing their own private brands.
However, 2017 will see a big increase in marketing budgets to address this issue, with rough diamond companies planning to invest 50 percent more both in generic diamond marketing and marketing for their own brands.
7. Sales are expected to continue to grow beyond 2017.
In the future, disposable income increases of between 1.5 percent and 2.5 percent a year will continue to drive modest diamond sales growth in the U.S.
China is expected to resume growth in 2017 and this should continue in the future due to a rising middle class.
India has the potential to be the fastest-growing diamond jewelry market in the next decade-plus due to an expansion of bridal diamond jewelry and, like China, an increase in the middle-class population.
On the rough side, rough diamond demand should increase at a rate of about 1 to 4 percent each year through 2030. Supply will be flat or increase 1 percent, based on current and planned mining. This includes the reopening of distressed mines and tailing from older mines, if the demand requires it.
Elsewhere, China’s lowest yuan values in a decade led to sales decreases in 2016, though as the currency stabilized in 2017 sales increased. India likewise rebounded in the first half of 2017 after the demonetization crisis of 2016.
Overall, diamond jewelry sales are expected to grow in 2017.
5. Lab-grown diamonds remain a key challenge for the natural diamond industry, but it’s likely the industries can live in harmony.
In the same way the colored gemstone market exists alongside the diamond market, the global diamond report asserted that demand for lab-grown diamonds need not significantly affect the natural diamond industry.
However, it’s important to develop cheaper and more effective detection tools to protect the integrity of the natural diamond supply, the report noted.
6. The diamond industry must step up its marketing efforts to increase consumer demand.
The diamond industry isn’t experiencing the same growth now that it did in the 20th century when “A Diamond is Forever” became one of the most successful marketing slogans of all time.
This century, generic diamond marketing from rough diamond producers has decreased, and retailers and stores are focused on marketing their own private brands.
However, 2017 will see a big increase in marketing budgets to address this issue, with rough diamond companies planning to invest 50 percent more both in generic diamond marketing and marketing for their own brands.
7. Sales are expected to continue to grow beyond 2017.
In the future, disposable income increases of between 1.5 percent and 2.5 percent a year will continue to drive modest diamond sales growth in the U.S.
China is expected to resume growth in 2017 and this should continue in the future due to a rising middle class.
India has the potential to be the fastest-growing diamond jewelry market in the next decade-plus due to an expansion of bridal diamond jewelry and, like China, an increase in the middle-class population.
On the rough side, rough diamond demand should increase at a rate of about 1 to 4 percent each year through 2030. Supply will be flat or increase 1 percent, based on current and planned mining. This includes the reopening of distressed mines and tailing from older mines, if the demand requires it.
More on Sourcing
The Latest
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
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.
TrendsMay 13, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
