SourcingOct 26, 2023
De Beers Production Declines 23 Percent in Q3 SourcingNov 21, 2023
De Beers’ Rough Diamond Sales Sink to $80M
India’s voluntary moratorium on rough diamond imports coupled with a stunted recovery in China continue to impact the miner.
Rough diamonds from De Beers Group’s Gahcho Kué mine in Canada. In its next-to-last sales cycle of 2023, the company’s rough diamond sales dropped to $80 million, a record low since the company began reporting sight results in 2016. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films)
Gaborone, Botswana—Rough diamond sales sunk to a new low for De Beers Group in its latest round of sightholder sales due to India’s mortarium on imports and the stunted retail recovery in China, it said.
Rough diamond sales totaled just $80 million between Oct. 4 and Nov. 3, compared with $454 million in the same period last year.
It is the lowest total for the diamond miner and marketer since it began reporting sight results in 2016, sinking even below pandemic levels.
Year-to-date, De Beers is now pacing 35 percent behind its 2022 sales total.
Through the beginning of November, De Beers’ 2023 rough diamonds sales have totaled $3.49 billion, compared with $5.38 billion at this point last year, when De Beers had a stellar year with rough sales nearing $6 billion.
Related stories will be right here …
Rough diamond sales totaled just $80 million between Oct. 4 and Nov. 3, compared with $454 million in the same period last year.
It is the lowest total for the diamond miner and marketer since it began reporting sight results in 2016, sinking even below pandemic levels.
Year-to-date, De Beers is now pacing 35 percent behind its 2022 sales total.
Through the beginning of November, De Beers’ 2023 rough diamonds sales have totaled $3.49 billion, compared with $5.38 billion at this point last year, when De Beers had a stellar year with rough sales nearing $6 billion.
Commenting on the company’s latest sales results, CEO Al Cook said: “Macro-economic challenges continue to affect the diamond sector. The retail recovery in China remains slow, and the voluntary import moratorium on rough diamonds into India will see extended Diwali holidays and factory closures in the world’s largest diamond cutting center.”
Because of this, De Beers continued to allow sightholders to buy as little or as much rough as they wanted to in the ninth sales cycle in an effort to help rebalance supply and demand in the midstream.
The company’s 10th and final sales cycle of the year will take place next month.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
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.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
SurveysOct 07, 2024
Hill & Co.’s New ‘Business of Jewelry Report’ Is OutThe first in what is slated to be a series of in-depth reports from the consulting company, it focuses on shortening supply chains.
WatchesOct 04, 2024
Watches of Switzerland Clocks Another Acquisition—HodinkeeThe company said Benjamin Clymer will return to his role as head of the watch news website, which will maintain editorial independence.
