SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCSourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic Uncertainty
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
De Beers Group’s CEO said Tuesday that diamond businesses are taking a “cautious” approach to purchasing amid economic uncertainty. The company’s most recent round of rough diamond sales totaled $445 million, down 18 percent when compared with the same period last year.
Gaborone, Botswana—De Beers Group’s rough diamond sales continue to improve incrementally, though many diamond businesses are still taking a conservative approach to restocking, the company said this week.
The company’s rough diamond sales totaled $445 million in the third sales cycle of the year, which ended April 16.
That is down 18 percent compared with the third sales cycle of 2023 ($542 million) but up 3 percent from the second sales cycle ($431 million), marking the fourth sales cycle in a row in which De Beers’ sales have increased.
Related stories will be right here …
The company’s rough diamond sales totaled $445 million in the third sales cycle of the year, which ended April 16.
That is down 18 percent compared with the third sales cycle of 2023 ($542 million) but up 3 percent from the second sales cycle ($431 million), marking the fourth sales cycle in a row in which De Beers’ sales have increased.
Year-to-date, De Beers sales have totaled $1.25 billion, pacing 16 percent behind last year at this point ($1.49 billion).
Commenting on the company’s third sales cycle results, CEO Al Cook said, “Many diamond businesses are continuing to take a cautious approach to purchases amidst the uncertain economic landscape and the slow pace of growth in China.
“However, we saw a further uptick in our rough diamond sales in our third sales cycle, ahead of what is usually a slower period for rough diamond demand in the second quarter of the year.”
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.
