Press release – De Beers Group [announced February 1] the value of rough diamond sales (Global Sightholder Sales and Auctions) for the first sales cycle of 2023.
Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the first sales cycle of 2023, with the Sight event extended beyond its normal week-long duration. As a result, the provisional rough diamond sales figure quoted for Cycle 1 represents the expected sales value for the period 16 January and 31 January and remains subject to adjustment based on final completed sales.
|Cycle 1 2023
|Cycle 10 2022
|Cycle 1 2022
|Sales value3 ($m)||450||417||660|
Bruce Cleaver, CEO, De Beers Group, said: “Consumer demand for diamond jewellery over the 2022 end-of-year holiday season performed well. As expected, given the macroeconomic outlook at the time, Sightholders took a cautious approach in late 2022 in planning their 2023 allocation schedule, with a greater weighting of goods to be purchased as the year progresses. While there is still some uncertainty over the macroeconomic environment, we see cautious optimism for demand to increase as China continues to reopen and inflation rates start to decrease in many major economies.”
1. Cycle 1 2023 provisional sales value represents sales as at 31 January 2023.
2. Cycle 10 2022 actual sales value represents sales between the dates of 5 December to 20 December.
3. Sales values are quoted on a consolidated accounting basis. Auction sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.