De Beers Sales Slip to $440M

De Beers recorded its lowest-value sales cycle this year as weak Indian demand prompted it to drop prices of cheaper goods.

Proceeds fell to $440 million in November as the miner reduced prices by high-single-digit percentages for rough diamonds costing $100 per carat or less, sightholders said last week.

The Indian manufacturing sector has struggled with thinning profit margins due to relatively high rough prices and the weak rupee, while tighter bank lending has further contributed to a decline in demand.

November is also seasonally slow as factories close for the Diwali festival.

Proceeds from the ninth sales cycle fell 6% compared with the equivalent period a year ago, and were down 9% versus the $482 million it garnered in October, De Beers reported Tuesday.

“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,” said De Beers CEO Bruce Cleaver.

“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.”

Rough-diamond sales came to $4.85 billion for the first nine cycles of the year, in line with a year ago, according to Rapaport calculations. The company offers its rough goods at 10 sales cycles across the year, mainly at sights in Gaborone, Botswana. Its sales figures also include auction proceeds.

Image: A De Beers sightholder examines a parcel of rough diamonds. (Kieran Doherty/De Beers)

Source: Diamonds.net

De Beers Sales Slip to $440M

De Beers recorded its lowest-value sales cycle this year as weak Indian demand prompted it to drop prices of cheaper goods.

Proceeds fell to $440 million in November as the miner reduced prices by high-single-digit percentages for rough diamonds costing $100 per carat or less, sightholders said last week.

The Indian manufacturing sector has struggled with thinning profit margins due to relatively high rough prices and the weak rupee, while tighter bank lending has further contributed to a decline in demand.

November is also seasonally slow as factories close for the Diwali festival.

Proceeds from the ninth sales cycle fell 6% compared with the equivalent period a year ago, and were down 9% versus the $482 million it garnered in October, De Beers reported Tuesday.

“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,” said De Beers CEO Bruce Cleaver.

“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.”

Rough-diamond sales came to $4.85 billion for the first nine cycles of the year, in line with a year ago, according to Rapaport calculations. The company offers its rough goods at 10 sales cycles across the year, mainly at sights in Gaborone, Botswana. Its sales figures also include auction proceeds.

Image: A De Beers sightholder examines a parcel of rough diamonds. (Kieran Doherty/De Beers)

Source: Diamonds.net

Diamond and Jewellery Valuations

DCLA Diamond and Jewellery Valuations

DCLA Australia’s leading diamond certification laboratory valuation service.

Due to the rates of exchange and the price changes in Diamonds and Gold,  Your Diamond or Jewellery valuations should be updated annually.

DCLA Cold Laser Inscription

This is another assurance linking your diamond to the report or the valuation, identifying your diamond in case of recovery.

Read more Source: DCLA Valuations 

DCLA Laboratory

The all New DCLA Laboratory education and resource site is live.

 
Need help Buying or Selling a Diamond or diamond Jewellery ?

Visit or call the DCLA team we are here to help.

DCLA Diamonds old to new ring design

We understand Sentimental value.
There are other options to selling or leaving it in a drawer until it disappears.

Call DCLA for an appointment to see how we make your cherished heirloom wearable.

Sarine Claims Superior Accuracy for Grading Tools

Sarine Technologies’ new automated color- and clarity-grading systems are yielding more reliable results than manual graders, the company has claimed.

Sarine Clarity, which uses technology to analyze flaws in polished diamonds, showed a 97% correlation with the grades given by a reference group of human gemologists, while Sarine Color matched them 99% of the time, Sarine said Sunday.

Read more: DCLA 

Princess cut diamond engagement ring

An old Princess cut diamond engagement ring re-manufactured by the DCLA
from the ordinary into the extraordinary.

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Rio Tinto Debuts Biggest Red Diamond in Tender History

 

The 2.11 carat radiant cut fancy red Argyle Everglow, the top lot of the 2017 Argyle Pink Diamonds Tender New York.

Four graded fancy red and another four as purplish red. There were also two violet diamonds and one blue, with the remaining 41 graded pink.

Following the preview held this week in New York, the diamonds will travel to Hong Kong and then come back to New York in September, before returning to Australia where they were mined.

Sell a diamond

Selling or upgrading your old or out of date diamond jewellery

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DCLA Diamonds Dress Rings

At DCLA Diamonds we design your ring or dress ring using our new diamond stock. Or if you have sentimental diamond jewellery we can redesign a bespoke ring. Which makes them fashionable and wearable.

Selling your diamond

Sell your diamond

DCLA can help you sell or auction your diamond jewellery and get you the correct value:

If you are you considering selling your diamond, but feel as though you have no idea how or where to begin with the process?
This article will give you a few tips to help you along the way.
TIP #1 Diamonds are usually given to display love, making the sentimental value higher to the seller than the actual value to a buyer. Should you be in the market to sell your diamond, make sure you are ready to part with the diamond before begining the process.
TIP #2 Be sure of the quality and authenticity of what you are trying to sell. Make sure of the quality and the grade of the stone. This is most important for the ultimate value of the diamond. There have been many instances where a seller is committed to selling their diamond only to find out the quality isn’t as described when originally purchased.
There are Jewellers or services available, who will give an unbiased assessment of your stone. But it is far more valuable in the long run to get a report from a recognised Laboratory.
It is also recommended to verify the report matches the Laser inscription before placing your diamond on the market, to assure your diamond is the same stone should it not sell.
TIP #3 Now that you have an accurate report of the quality, make sure you get a realistic selling value. Believing the diamond holds a higher value than it truly possesses will lead to a challenging, frustrating experience which can be dragged out.
An appraiser can assist you with determining a fair selling, price so you can avoid this pitfall. Diamonds are priced in US dollars, so your diamonds price will be affected when converted to your local currency.
A good way to see current retail values is to visit online stores like dcladiamondexchange.com.au or bluenile.com.
TIP #4 There are many ways to sell a preloved diamond or diamond jewellery. Research your selling options to make an educated decision that works best for you. Be it an online market or exploring options through a local jeweller or dealer, be sure you are using the best option for your needs.
Example, if time is not of the essence, an online market or an auction house could be the best way forward. If you want a quick sale, visiting your local dealer may be the best option.
DCLA Diamond Laboratory provides an internationally recognised and respected report to any seller or prospective buyer.
DCLA will provide you with an experience expert to advise you and give you the accurate value protecting you when selling. Our goal is to provide you with as much knowledge as possible.
Visit www.dcla.com.au for information advice or to make an appointment.
Or call us on 1300 413 425 or Sydney 02 92612104