De Beers Slashes Rough Prices
January 16, 24
(IDEX Online) - De Beers has reportedly slashed rough diamond prices across the board by at least 10 per cent.
Some larger goods have been discounted by as much as 25 per cent as the first Sight of the year opened in Gaborone, Botswana, yesterday (15 January), according to insiders. De Beers does not comment on prices.
The UK-based miner is keen to push sales after its last two Sights of 2023 brought in just $216m, down from $871m the previous year.
The biggest discounts at the current Sight are reportedly among 2.0-cts to 4.0-cts select makeables, clarity SI2 to I2. There are smaller reductions for smaller goods.
The last time it made such dramatic price cuts was in early 2020 as the Covid pandemic hit.
De Beers has resumed its rough online sales, which account for around 10 per cent of its business, after cancelling them last September.