De Beers Reports Provisional Sale of $505 million of Rough at Seventh Sale of 2017

(IDEX Online) – De Beers sold rough diamonds with a provisional value of $505 million in the seventh sales cycle (Global Sightholder Sales and Auction Sales) of 2017, indicating a decline in demand.

Bruce Cleaver, CEO, De Beers Group, (pictured above) said: “As expected, rough diamond sales were somewhat lower in the seventh cycle of the year, with some midstream demand having already been brought forward into Cycle 6 due to Diwali being earlier than normal in 2017.

“Businesses in the diamond industry’s midstream segment are adopting a watchful approach as attention now turns to the Hong Kong Jewellery & Gem Fair in mid-September.”

De Beers' sales in the sixth cycle were $576 million.

The latest figure compares with $639 million in the year-earlier sale.