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De Beers’ rough sales drop 42%

De Beers’ rough diamond sales (Global Sightholder Sales and Auctions) for the sales cycle of 2023 dropped 42% to $370 million versus the 7th sight a year ago, underlining a challenging market landscape and cautious midstream demand.

The figures also reveal a 10% dip when compared to the immediate preceding 6th sales cycle of 2023.

Al Cook, CEO, De Beers Group, said: “With the prevailing economic environment leading to softer end client demand for diamond jewellery in key consumer markets, and the traditionally lower levels of midstream trading during the summer period, Sightholders continued to take a prudent approach to their purchasing during the seventh sales cycle of the year.”

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