SourcingApr 01, 2021
3 Rough Auctions Total Nearly $24M for AlrosaSourcingApr 13, 2021
Rough Diamond Sales Slow Down for De Beers, Alrosa
Leaders at both companies said the latest sales results are in line with expectations.
Rough diamonds in the hands of a De Beers employee at one of the company’s operations in South Africa. Both De Beers and Alrosa experienced a slowdown in rough diamonds sales in March and early April. (©De Beers Group, Photo credit: Ben Perry/Armoury Films)
New York—After starting the year out strong, rough diamond sales slowed in March and early April for the industry’s two largest mining companies, De Beers Group and Alrosa.
De Beers reported $440 million in rough diamond sales between March 22 and April 6, its third cycle of sightholder and auction sales of the year.
That is a 24 percent decline when compared with $581 million in cycle three of 2019. It is also down from the first ($663 million) and second ($550 million) sales cycles of 2021.
(Cycle three of 2020 is not a comparable period due to the industrywide shutdown brought about by COVID-19. De Beers’ sales in that period totaled $0.)
CEO Bruce Cleaver described rough diamond demand as “solid” and said results were in line with company expectations for the third sales cycle as the diamond industry heads into a historically quieter time of the year.
He struck a cautiously optimistic tone for the months ahead.
“Both market sentiment and overall industry conditions remain positive,” Cleaver said. “However, with pandemic developments in Europe and Mumbai’s recent lockdown resulting in the Bharat Diamond Bourse being closed, it is clear that we will continue to see challenges relating to COVID-19.”
Related stories will be right here …
De Beers reported $440 million in rough diamond sales between March 22 and April 6, its third cycle of sightholder and auction sales of the year.
That is a 24 percent decline when compared with $581 million in cycle three of 2019. It is also down from the first ($663 million) and second ($550 million) sales cycles of 2021.
(Cycle three of 2020 is not a comparable period due to the industrywide shutdown brought about by COVID-19. De Beers’ sales in that period totaled $0.)
CEO Bruce Cleaver described rough diamond demand as “solid” and said results were in line with company expectations for the third sales cycle as the diamond industry heads into a historically quieter time of the year.
He struck a cautiously optimistic tone for the months ahead.
“Both market sentiment and overall industry conditions remain positive,” Cleaver said. “However, with pandemic developments in Europe and Mumbai’s recent lockdown resulting in the Bharat Diamond Bourse being closed, it is clear that we will continue to see challenges relating to COVID-19.”
For Alrosa, diamond sales in March 2021 totaled $357 million, with the company moving $345 million in rough diamonds and $12 million in polished.
As with De Beers, March 2021 vs. March 2020 is not a viable comparison due to the onset of the pandemic and the resulting “steep decline” in demand.
Alrosa’s March 2021 sales are down 5 percent when compared with March 2019, when sales totaled $377.1 million.
Diamond sales also have declined slightly each month this year, reaching $430 million in January, $372 million in February and $357 million in March for a total of $1.16 billion year-to-date.
Alrosa’s year-to-date total is up 23 percent when compared with the first three months of 2020 and 12 percent from 2019.
Deputy CEO Evgeny Agureev said jewelry sales in key markets, including the United States, continue to be strong while polished diamond stocks are at an appropriate level.
“Alrosa retains its commitment to a prudent sales strategy, aimed at keeping the industry balance through supplying real demand,” he said.
“March sales were in line with our expectations. As we see the market today, polished diamond stocks in the global pipeline are at a comfortable level while rough diamond stocks are approaching low levels.”
More on Sourcing
The Latest
Lab-GrownNov 25, 2024
Lab-Grown Co. Lusix Sold to 2 Companies for $4M Fenix and Dholakia Lab-Grown Diamonds have jointly acquired the Israel-based company, which grows diamonds using solar power.
IndependentsNov 25, 2024
Sophie Bille Brahe Opens First US StoreThe Danish brand has opened an appointment-only location on Madison Avenue in New York City.
Events & AwardsNov 25, 2024
The Original Miami Beach Antique Show Panel to Feature Fred SavageThe actor and watch enthusiast will be part of the show’s education lineup.
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
Weekly QuizNov 21, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
AuctionsNov 21, 2024
Gold Watch Gifted to Titanic Rescue Ship Captain Sells for $2MThree Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
IndependentsNov 21, 2024
Mary Moses Kinney Is Now Part of The Edge’s Team Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
Policies & IssuesNov 20, 2024
Columbia Gem House Raises $10K for Reforestation EffortsThe money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
Events & AwardsNov 20, 2024
The Jewelry Symposium Opens Registration, Scholarship ApplicationsThe event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
CrimeNov 19, 2024
Woman Killed in Armed Robbery of Sacramento Jewelry StoreLocal reports identified the woman as the wife of the jewelry store owner.
AuctionsNov 19, 2024
‘A Tsar’s Treasure’ Fetches $2.9M at Sotheby’s Jewelry SaleA collection of pieces owned by Ferdinand I, the first king of modern Bulgaria, and his family, blew away estimates in Geneva last week.
MajorsNov 19, 2024
Trove Opens First US Flagship in NYCThe Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
CollectionsNov 19, 2024
Snoop Dogg’s New Jewelry Collection Is All About Love“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
EditorsNov 18, 2024
Q&A: Helzberg CEO Brad Hampton on the Jeweler’s RebrandHampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
Policies & IssuesNov 18, 2024
Reciprocity Jewels Returns to NYC Jewelry WeekThe group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
CollectionsNov 18, 2024
Dolly Parton Shines in Collaboration with Kendra ScottThe collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
Events & AwardsNov 18, 2024
IGI Jewelry Design Competition ReturnsThis year’s theme asks designers to take inspiration from classic fairy tales.
EditorsNov 15, 2024
Why Fine Jewelry Belongs at New York Comic ConSenior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
