De Beers Group announced [March 10] the value of rough diamond sales (Global Sightholder Sales and Auctions) for the second sales cycle of 2021.
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 second sales cycle of 2021, with the Sight event extended beyond its normal week-long duration. As a result, the provisional rough diamond sales figure quoted for Cycle 2 represents the expected sales value for the period 22 February to 08 March and remains subject to adjustment based on final completed sales.
| Cycle 2 2021 (provisional)1 |
Cycle 1 2021 (actual)2 |
Cycle 2 2020 (actual) |
|
| Sales value3 ($m) | 550 | 663 | 362 |
Bruce Cleaver, CEO, De Beers Group, said: “We saw the continuation of good rough diamond demand during our second sales cycle of 2021 on the back of positive consumer demand for diamond jewellery. Midstream buyers continued to express healthy demand following better than expected retail sales of diamond jewellery over Christmas, Chinese New Year and Valentine’s Day, with the industry now set to enter what is traditionally a period of lower seasonal demand. While the year has started positively, we recognise that short-term uncertainty in the pace and shape of the recovery remains.”
1 Cycle 2 2021 provisional sales value represents sales as at 08 March 2021.
2 Cycle 1 2021 actual sales value represents sales between the dates of 18 January and 02 February.
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.
