De Beers Allows Clients To Delay Purchase Of Smaller Stones In Latest Sight

(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 2018.

The miner reported confirmed sales of $533 million in the fifth cycle.

The miner confirmed media reports that it allowed its clients to delay the purchase of smaller items.

Bruce Cleaver, CEO, De Beers Group, said: "De Beers Group provided Sightholders with the opportunity to re-phase the allocation of some smaller, lower value rough diamonds. Demand remains stable ahead of the September Hong Kong Jewellery & Gem Fair.”

De Beers' sales in the seventh sale of 2017 were $507 million.