Recorded WebinarsSep 29, 2023
The Lab-Grown Diamond Market: Where Are We Now?Watch as Edahn Golan, Sherry Smith and Avi Levy join Michelle Graff to talk pricing and trends in this controversial corner of the market.
SourcingNov 21, 2018
De Beers’ Ninth Cycle Sales Fall Short
They totaled $440 million, compared with $466 million in the same period last year.
De Beers’ latest round of sightholder and auction sales brought in $440 million, falling short of the $466 million sold during the same period last year. The slowdown in sales of smaller goods continues to impact the diamond miner and marketer’s results.
Gaborone, Botswana—De Beers’ latest round of sightholder and auction sales totaled $440 million, 6 percent lower when compared with the same period last year.
The company continues to grapple with a slowdown in sales of smaller stones, due in part to financing issues in India in the wake of the $2 billion banking scandal linked to diamantaire Nirav Modi, though De Beers CEO Bruce Cleaver said sales in this area have picked up.
“As the industry’s focus turns toward the key end-of-year retail selling season, rough diamond sales continued to be in line with expectations during the ninth cycle of the year,” he said.
“While demand for smaller, lower-quality rough diamonds continues to see some challenges, the latest cycle saw some signs of improvement in this area as factories in India begin to reopen after Diwali.”
De Beers revised its sales figure for the eighth cycle upward, from the provisional total of $475 million reported in October to $482 million.
Here’s how De Beers’ sales compare so far this year.
The company’s 2018 sales total $4.85 billion to date and remain on par with 2017 sales.
More on Sourcing
The Latest
CollectionsSep 29, 2023
Piece of the Week: Sonya K’s Versatile Necklace A classic diamond tennis necklace gets a whole lot cooler with a removable pendant.
EditorsSep 28, 2023
The Gemstone World Is In Its Unique Cut EraAssociate Editor Lauren McLemore recently spoke with Columbia Gem House’s Eric Braunwart about the uptick in non-traditional gemstone cuts.
Brought to you by
Top 5 Ways to Promote Safety and Security Awareness Among Your StaffAwareness is essential to proactive protection. Learn how to promote and maintain safety and security awareness in your business.
MajorsSep 28, 2023
Signet-Owned Rocksbox Now Sells Pre-Owned Fine Jewelry“Pre-Owned Luxury by Rocksbox” offers secondhand jewelry from Kay, Zales, and Jared to members and non-members.
Weekly QuizSep 29, 2023
This Week’s QuizTest your jewelry news knowledge with this short test.
CrimeSep 28, 2023
Have You Seen Jewels Like These? The British Museum Wants to KnowThe museum is asking for the public’s help in finding thousands of pieces of ancient gold jewelry and gemstones stolen from a storeroom.
MajorsSep 28, 2023
The Kingswood Co. Names New VP, Wins AwardThe company was recognized for one of its private-label, consumer-focused jewelry care lines.
Brought to you by
A Conversation with Dialog SolutionsDo you always want the right diamonds at the right price in your store? Introducing Dialog, the world’s first diamond subscription service.
AuctionsSep 27, 2023
Antique Jewels Shine at Bonhams LondonA rare Chaumet necklace and 20th-century sapphire ring sold for double their estimates.
SurveysSep 27, 2023
Consumer Confidence Falls in September Amid Rising Recession Fears Shoppers also expressed concern about rising prices, higher interest rates, and political uncertainty.
Events & AwardsSep 27, 2023
PGI to Dole Out $500K in Business Grant Program Participants from the first round of grants saw up to a 900 percent increase in their platinum sales.
WatchesSep 26, 2023
Citizen Launches the Tsuki-Yomi A-T TimepieceAccording to the watchmaker, it features the first light-powered atomic timekeeping moon phase movement.
IndependentsSep 26, 2023
Sally Nelson, Founder of Exclusively Diamonds, Dies at 86The former teacher, described as “a pioneer for women-owned businesses,” opened her own jewelry store in 1980.
Events & AwardsSep 26, 2023
2023 Spectrum Awards Entry Deadline ExtendedThe contest is now open for submissions until Oct. 10.
Events & AwardsSep 26, 2023
Instore Announces Dates for 2024 Show The annual event will return to Rosemont, Illinois next August.
SurveysSep 26, 2023
Mastercard Makes Its 2023 Holiday PredictionAccording to SpendingPulse, retail sales will increase in November and December but not necessarily for jewelers.
CrimeSep 25, 2023
Oregon Jeweler Accused of Selling Lab-Grown Diamonds as NaturalPolice say Douglas Wayne Gamble also swapped natural diamonds for synthetic stones and failed to return customers’ repairs.
CollectionsSep 25, 2023
Neil Lane’s Latest Collection Uses Lab-Grown Diamonds The designer just launched a new bridal range at Kay Jewelers.
MajorsSep 25, 2023
Hearts On Fire Taps Mejuri Exec as CCOYunjo Lee has also worked on collections for Tiffany & Co. with Paloma Picasso and Frank Gehry.
MajorsSep 25, 2023
Second Generation Takes On New Roles at Sylvie JewelrySteve Levine joins the family-owned company, while his brother Gary has a new position.
MajorsSep 22, 2023
David Yurman Alleges These Two Companies Copied Its DesignsThe company has filed complaints against Royal Chain and Samuel B.
TrendsSep 22, 2023
Piece of the Week: Yun Yun Sun’s ‘Puzzle’ Ring The two-stone style benefits from two-toned metal.
Events & AwardsSep 22, 2023
HardRock Summit To Relocate In 2024The event is moving just outside of Denver.
WatchesSep 21, 2023
Timex Wants Your Old WatchThe company just rolled out “Timex Rewound,” a new takeback and resale program.
GradingSep 21, 2023
Retailers Warned About Fraudulent Email Purportedly From GIA The lab confirmed it did not send the message.
AuctionsSep 21, 2023
Hindman Appoints New SVP, Director of Jewelry and WatchesReginald Brack has worked at StockX and Christie’s.
SourcingSep 21, 2023
Natural Diamond Council’s Latest Campaign With Lily James Is Here The second installment of “To Treasure Now and Forever” is intended to emphasize diamonds’ versatility.
