MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
SourcingAug 05, 2014
De Beers expanding rough customer base
Beginning in March 2015, companies that are not De Beers sightholders will have the opportunity to compete for the rough diamonds that weren’t offered to, or refused by, sightholders, and will be known as “accredited buyers.”
London--Beginning in March 2015, companies that are not De Beers sightholders will have the opportunity to compete for the rough diamonds that weren’t offered to, or refused by, sightholders, and will be known as “accredited buyers.”
Accredited buyers will have the chance to purchase ex-plan: rough that falls outside of the intention to offer (ITO), the 12-month forecast of what De Beers intends to offer each sightholder based on the size, clarity, etc. of diamonds they normally need. De Beers said it expects to have an “enlarged pool” of ex-plan availability in the next contract period, as it makes more rough available through this channel to give different diamond companies, not just sightholders, the ability to show demand for its diamonds.
Accredited buyers also can compete for the rough diamonds that were in boxes refused by sightholders.
In order to qualify as an accredited buyer, companies will need to meet many of the same criteria as De Beers’ sightholders and auction customers do; in short, they need to have purchased a certain amount of rough diamonds in the year prior to the beginning of the contract period, adhere to De Beers’ ethics principles and meet certain financial requirements.
De Beers sells 90 percent of its rough diamonds through its global sightholder system (GSS), with the remaining 10 percent sold via De Beers Auction Sales, formerly known as Diamdel.
In this current contract period, De Beers has 83 sightholders. The company would not give an estimate on how many sightholders it anticipates accepting in the next contract period, nor on how many accredited buyers it expects to have.
In addition to the accredited buyers, De Beers is adding another wrinkle to its next three-year contract period--“Strategic Supply,” which will be available by invitation only to companies that “drive value addition,” such as by creating consumer demand for diamonds.
De Beers spokesman David Johnson said invitations for Strategic Supply can go to any diamond company that De Beers perceives as adding value to the diamond pipeline, whether they are sightholders, accredited buyers, auction sales customers or none of the above.
Invites to apply for strategic supply are scheduled to be sent on Dec. 1, and Johnson said those accepted will become sightholders. Strategic Supply will be offered on a 12-month basis, like ITOs, but will not renew automatically during the three-year sightholder contract period. A company invited and
accepted for Strategic Supply for 2015-2016, for example, will not necessarily receive Strategic Supply for 2016-2017.
When asked if Strategic Supply was a way of rewarding companies that currently contribute to the generic marketing of diamonds--something De Beers used to do on a grand scale before its share of the world’s supply of rough dwindled--Johnson said, “Our concern is the value of the diamond industry.” He said Strategic Supply does give De Beers the ability to get rough diamonds into the hands of companies that are stoking consumer demand, though he also notes these diamonds could go to companies that add value at other points in the supply pipeline, such as in cutting and polishing.
When asked how De Beers sees the rough diamonds going through the GSS being divvied up among all of its buyers and channels--including these new accredited buyers and the rough being pushed through Strategic Supply--Johnson said the company is “not drawing lines” but estimates that the “great majority” of its rough diamonds will continue to be sold to sightholders through the ITOs.
The next contract period for De Beers’ sightholders begins in March 2015 and extends for three years, through March 2018. More information about the new contract period is available at DeBeersSightholder.com.
The deadline for submission of sightholder applications is Oct. 17. De Beers said it has simplified the sightholder application process, eliminating the complex Contract Proposal Questionnaire, or CPQ, and accepting companies as sightholders based on rough purchases, financial stability and transparency and adherence to De Beers’ ethical requirements.
De Beers will continue to allow companies that are customers of its auction sales arm to apply to become sightholders in the middle of the contract period. Johnson said accredited buyers also will have this opportunity.
More on Sourcing
The Latest
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 YearsThe Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine CollectionFine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.
Policies & IssuesSep 09, 2026
8 Key Changes the FTC Made to the Jewelry Guides: A Refresher Learn more about the new terms for lab-grown diamonds and composite gemstones, and the major changes in store for precious metals jewelry.
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
