Gaborone, Botswana–Rough diamond sales picked up for De Beers as retail sales increased ahead of the holiday season.
In the ninth sales cycle of the year, De Beers’s auction and sightholder sales totaled $455 million, down slightly from the $476 million sold in the same period last year and up nearly $80 million from the eighth sales cycle.
Commenting on the latest sales results, CEO Bruce Cleaver said: “Following a seasonally quieter period for rough diamond sales, Cycle 9 saw an uptick in demand from our customers as retail orders increase ahead of the Christmas season.”
De Beers also revised its preliminary figure for the eighth sales cycle upward, from the $370 million previously reported.
Here is a table showing year-over-year comparisons for De Beers’s rough diamond sales through the ninth sales cycle of 2017.
First sales cycle
$455 million (provisional)