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De Beers Sells Rough Diamonds Worth $440M In Cycle 9

De Beers Group today announced it had provisionally sold $440 million in rough diamonds in its 9th sales cycle of 2018. The figure is an aggregation of Global Sightholder Sales and Auction Sales during the period. It compares with the $466 million sold in the 9th sales cycle of 2017.

De Beers also said that its actual sales figures for this year’s 8th sales cycle now stand at $482 million.

De Beers CEO Bruce Cleaver said, “As the industry’s focus turns towards the key end-of-year retail selling season, rough diamond sales continued to be in line with expectation during the ninth cycle of the year. While demand for smaller, lower quality rough diamonds continues to see some challenges, the latest cycle saw some signs of improvement in this area as factories in India begin to reopen after Diwali.”

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