MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 26, 2017
To Start the Year, De Beers’ Sales Rise 32%
The diamond miner and marketer sold $720 million in rough at its first sales cycle of the year.
De Beers Group sold $720 million worth of rough diamonds in the first sales cycle of 2017, a 32 percent year-over-year increase.
Gaborone, Botswana--Rough diamond sales through Jan. 23 were up 32 percent year-over-year, De Beers Group said Tuesday.
In the first sales cycle of 2017, which includes both auction and sightholder sales, the diamond miner and marketer reported provisional sales of $720 million, compared with $545 million in the first sales cycle of 2016.
Commenting on the results, CEO Bruce Cleaver said demand was “good” across the majority of the company’s assortment of diamonds, also noting that the early part of the year is typically when rough demand is strongest. (In 2016, De Beers’ strongest sales cycle was the third; see chart below.)
Also contributing to the increased demand was the longer gap between the final sight of 2016 and the first sight of 2017.
In India, some diamond polishing operations reopened, which helped boost demand for smaller, lower-quality rough diamonds. Still, Cleaver said De Beers maintains a “cautious” outlook on the market, which is still trying to adjust to the government’s demonetization policy.
The policy banned the widely used 500 and 1,000 rupee notes in an effort to combat terrorism and corruption but has hurt India’s smaller and mid-sized diamond cutting companies, many of which deal in cash. Both De Beers and Alrosa noted the negative effects of the policy when reporting their year-end results in December.
In releasing its results for the first sales cycle of the year, De Beers also revised its provisional figure for the final sales cycle of 2016 upward, from $418 million to $422 million.
Here is the final chart of De Beers’ sales for 2016, plus the figure for the first sales cycle of this year.
2016
2017
First sales cycle
$545 million
$720 million (provisional)
Second
$617 million
Third
$666 million
Fourth
$636 million
Fifth
$564 million
Sixth
$528 million
Seventh
$639 million
Eighth
$494 million
Ninth
$476 million
Tenth
$422 million
De Beers’ strong start to the year follows the December report from Rapaport Group in which diamond dealers expressed optimism for the year ahead following a holiday season that was good for some--but not all--jewelers.
A number of independent retailers told National Jeweler they had their best Christmas in years while Signet Jewelers Ltd. struggled due to declining mall traffic and website troubles, and Tiffany & Co. said it took a hit because of Trump Tower.
More on Sourcing
The Latest
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
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.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
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.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
SourcingDec 30, 2025
India Chosen as KP Chair for 2026It marks the third time the country has headed the Kimberley Process. Ghana will serve as vice chair.
WatchesDec 30, 2025
Bulova, Stetson Collab on Watches With Western FlairThe new Bulova x Stetson designs highlight two animals often associated with the American West—the bison and the Texas Longhorn.
CollectionsDec 30, 2025
Rahaminov Diamonds Pops Up in FloridaIts residency at Yamron Jewelers will run through May 2026.
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.
SourcingDec 29, 2025
‘Unearthed: Raw Beauty’ Exhibition Opens at LA MuseumThe new curation at the Natural History Museum of Los Angeles County showcases rare gem and mineral specimens in their uncut, natural state.
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.
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.
Events & AwardsDec 24, 2025
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
SourcingDec 23, 2025
Mining Titan Brian Gilbertson Dies at 82The former BHP Billiton leader and Gemfields chairman is remembered for his influential leadership throughout his 50-year mining career.
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.
