De Beers Jan. sight estimated at $700M

Avi Krawitz

Rough prices, premiums rise.
The De Beers January sight closed with an estimated value of $700 million as the company raised prices by 5 percent on average. The price hike affected most categories, while the company also adjusted assortments in its boxes.

Rough demand from the secondary market improved with solid premiums emerging on De Beers boxes. While there were requests for additional stones during the sight, De Beers did not have the goods to fulfill additional demand and there was little ex-plan provided. Despite the strong demand, sightholders noted the price increase was slightly higher and further reaching than they expected.

The De Beers price increases go well over the categories that have changed,” said an Antwerp-based sightholder. “There are certain categories for which you could justify those prices have increased since November and December, and that would be more in the smaller pointer size goods. But what De Beers did across the board, hitting mostly the melee goods and the smalls, was unseen.

The prices on small Z and small makeable boxes rose by more than 6 percent, while prices of the fine 2.5/4-carat box rose by about 4 percent.

A Mumbai-based sightholder confided that traders weren’t too upset by the price hikes as the rough diamond market has become buoyant in January with steady premiums on the secondary market.

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Source Rapaport