Press release – De Beers Group announced [October 5] the value of rough diamond sales (Global Sightholder Sales and Auctions) for the eighth 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 eighth 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 8 represents the expected sales value for the period 19 September to 04 October and remains subject to adjustment based on final completed sales.
| Cycle 8 2022 (provisional)1 |
Cycle 7 2022 (actual)2 |
Cycle 8 2021 (actual) |
|
| Sales value3 ($m) | 500 | 638 | 492 |
Bruce Cleaver, CEO, De Beers Group, said: “Demand for our rough diamonds during sales cycle 8 was in line with expectations at what is a traditionally quieter time of year for the diamond industry as polishing factories in India prepare for closures ahead of the Diwali holidays. The steady overall demand for De Beers Group rough diamonds is reflected in the ongoing consumer demand for diamond jewellery ahead of the key holiday sales season in the US.”
Notes
1. Cycle 8 2022 provisional sales value represents sales as at 04 October 2022.
2. Cycle 7 2022 actual sales value represents sales between the dates of 15 August to 30 August.
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.
