De Beers Diamond Sales Flat in Second Cycle

De Beers Diamond Sales Flat in Second Cycle

De Beers Diamond Sales Flat in Second Cycle

Gaborone, Botswana–Rough diamond sales were up less than 1 percent year-over-year in the second sales cycle of the year, De Beers Group reported Tuesday.

The diamond miner and marketer said sightholder and auction sales together totaled $555 million between Jan. 30 and Feb. 5, compared with $553 million in the second sales cycle of last year.

Compared with the first sales cycle of the year, which is usually a strong period for De Beers as manufacturers restock after the holiday season, second-cycle sales were down 17 percent.

The $555 million is a provisional figure and likely will be revised upward when De Beers announces the sales results of the third cycle in early April.

CEO Bruce Cleaver called rough demand “good” and said it was what De Beers expected following strong retail sales of diamond jewelry in the United States during the holiday season and early signs that many consumers bought diamond jewelry for the Chinese New Year (Feb. 16) as well.

De Beers revised its sales figure for the first sales cycle upward, from $665 million to $672 million.

Here is a chart showing the year-over-year comparison for De Beers’s rough diamond sales so far in 2018.

2017  
2018 

First sales cycle         
$729 million             
$672 million

Second
$553 million       
$555 million (provisional)

Third
$586 million

Fourth
$522 million

Fifth
$530 million

Sixth
$576 million

Seventh
$507 million

Eighth
$376 million

Ninth
$466 million
  

Tenth
$455 million

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