DTC Opens Year with $600 million Sight

The Diamond Trading Company’s (DTC) first Sight of the year was in many ways a traditional one: a cocktail, a few speeches, even a supply of rough diamonds with no ex-plan goods (additional goods beyond the Intention To Offer- ITO). The one unusual item was Gary Ralfe's goodbye speech.

DTC's Sight 1 2006 is estimated at $600 million, with no price increases or any significant shift in box assortments. Sightholders received their ITO goods and nothing in the form of extras.

De Beers’ rough diamond marketing arm invited its clients’ marketing people to London to attend a seminar on its plans for the coming year. The seminar included a series of short introductions by the regional Diamond Promotion Services of their local territories.

However, what really grabbed people's attention was Gary Ralfe's farewell speechaccompanying the New Year cocktail. Instead of sticking to expected pleasantries, Ralfe choose to take the opportunity to criticize the trade in DTC boxes by Sightholders, saying it betrayed the partnership between the two.