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De Beers Provisionally Sells $505M In Cycle 7; Sees Stable Demand

De Beers announced that it had provisionally sold $505 million worth of rough diamonds in its seventh sales cycle of this year. This compares with the $507 million actually sold in the seventh sales cycle of 2017.

De Beers also said that its actual sales figures for the sixth cycle this year now stand at $533 million. 

De Beers CEO Bruce Cleaver 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.”

Cleaver was referring to the fact that De Beers had allowed Sightholders to leave smaller and lower value goods on the table during the sixth sales cycle.

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