Press release – De Beers Group [announced April 13] the value of rough diamond sales (Global Sightholder Sales and Auctions) for the third sales cycle of 2022.
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 third sales cycle of 2022, with the Sight event extended beyond its normal week-long duration. As a result, the provisional rough diamond sales figure quoted for Cycle 3 represents the expected sales value for the period 28 March to 12 April and remains subject to adjustment based on final completed sales.
| Cycle 3 2022 (provisional)1 |
Cycle 2 2022 (actual)2 |
Cycle 3 2021 (actual) |
|
| Sales value3 ($m) | 565 | 652 | 450 |
Bruce Cleaver, CEO, De Beers Group, said: “On the back of robust demand for rough diamonds in 2021 and jewellery sales in the first quarter of 2022, and reflecting continued year-on-year growth in consumer demand for diamond jewellery, demand for De Beers Group rough diamonds remained strong in the third sales cycle of 2022.
“As we head into the seasonally slower second quarter of the year, diamond businesses are adopting a more cautious and watchful approach in light of the war in Ukraine and associated sanctions, as well as Covid-19 lockdowns in China.”
Notes
1. Cycle 3 2022 provisional sales value represents sales as at 12 April 2022.
2. Cycle 2 2022 actual sales value represents sales between the dates of 21 February to 8 March.
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.
