De Beers Confirms 2026 Sight Dates and Cuts Rough Diamond Prices as Global Market Pressures Intensify

 

De Beers has released its 2026 sight schedule, confirming it will maintain its traditional 10 rough diamond sales over the 12-month period, providing a degree of operational continuity amid prolonged uncertainty across the global diamond industry.

The miner sells approximately 90% of its rough diamond output to approved sightholders, who commit to purchasing set volumes of rough diamonds in exchange for consistent and predictable supply. In line with this strategy, De Beers has confirmed it will extend its current sightholder agreement through 30 June 2026, ensuring stability within its sight system during a challenging market environment.

The extended contract continues to regulate De Beers’ rough diamond sales, which are sourced from its wholly owned and joint-venture mining operations in Botswana, Namibia and South Africa. Sales will continue to be conducted in these producing countries.

In a minor operational adjustment, De Beers announced that the April and September 2026 sights will be shortened to four days, compared with the traditional five-day format.

De Beers 2026 Sight Dates

• Sight 1: 19–23 January
• Sight 2: 23–27 February
• Sight 3: 23–27 March
• Sight 4: 27–30 April
• Sight 5: 25–29 May
• Sight 6: 6–10 July
• Sight 7: 17–21 August
• Sight 8: 22–25 September
• Sight 9: 26–30 October
• Sight 10: 30 November–4 December

De Beers Cuts Rough Diamond Prices Amid Weak Demand

Alongside the announcement of its 2026 sight calendar, De Beers has reportedly cut rough diamond prices, reflecting mounting pressure from weak demand, surging lab-grown diamond supply and ongoing trade disruptions.

The January reduction marked the company’s first official price cut since December 2024, following months of quietly offering discounts while maintaining official list prices above prevailing market levels. At the first regular sight of the year, De Beers implemented price reductions on rough stones larger than three-quarters of a carat, according to industry sources.

The exact scale of the price cuts remains unclear, as De Beers has adjusted its billing structure and altered the composition of its diamond boxes, making direct comparisons difficult. Under the sight system, De Beers sets prices and indicates expected purchase volumes for sightholders, a structure that continues to give the miner significant influence over the rough diamond market, despite buyers retaining the technical right to refuse goods.

Industry Downturn and Structural Challenges

The global diamond industry is experiencing one of its deepest downturns in decades, with demand and prices for natural diamonds declining sharply from 2023 through 2025. Miners have been forced to scale back production and reassess long-term strategies as market conditions deteriorate.

A major structural challenge has been the rapid rise of lab-grown diamonds, whose prices have collapsed in recent years. This has enabled lab-grown stones to capture increasing market share, particularly in the bridal jewellery segment, undercutting natural diamonds across key consumer categories.

China, once a vital growth engine for diamond jewellery, has become a significant drag on demand due to a slowing economy and declining marriage rates. At the same time, geopolitical pressures, including tighter sanctions on Russian diamonds, ongoing tariff threats and global trade frictions, continue to disrupt the diamond supply chain.

Trade Tensions Add Pressure to India’s Diamond Sector

Further uncertainty has emerged from US–India trade tensions, which have weighed heavily on India’s diamond industry. Under President Trump, US tariffs on a range of Indian imports — including gems and jewellery — were raised to as high as 50%, creating additional headwinds for global diamond flows.

The impact has been particularly acute given India’s central role in the industry. The country cuts and polishes around 90% of the world’s diamonds by volume, while the United States remains its largest export market, accounting for approximately one-third to nearly half of India’s diamond and jewellery exports.

As the official CIBJO laboratory for Australia, DCLA continues to closely monitor developments in rough supply, pricing dynamics and certification standards, as the natural diamond sector navigates a period of profound structural change.

Source: DCLA

The Farnese Blue Diamond: Three Centuries Through Europe’s Royal Courts

 

The Farnese Blue occupies a rare position among historic natural diamonds. It is not merely a gemstone with provenance, but a silent participant in more than three centuries of European political power, dynastic ambition, revolution, and exile. For most of its existence, it remained known only to a small circle of royal descendants, absent from public record and scholarly examination.

That secrecy ended in 2018 when the 6.16-carat pear-shaped natural Fancy Dark Gray-Blue diamond appeared unexpectedly at Sotheby’s Geneva. Its emergence stunned historians and gem specialists alike. Offered publicly for the first time in its recorded history, the Farnese Blue achieved USD $6.7 million—well above estimate—before being acquired by an anonymous buyer. With that sale, one of Europe’s most historically significant diamonds passed from royal custody into the modern market.

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A Golconda Diamond of Exceptional Origin

The Farnese Blue originated in the legendary Golconda mines of India, the world’s most important diamond source for over a millennium. Long before Brazil or South Africa entered the diamond trade, Golconda supplied every known diamond in existence. The Hope Diamond, the Koh-i-Noor, the Regent, and the Wittelsbach-Graff all share this same geographic origin near present-day Hyderabad.

Golconda diamonds travelled ancient trade routes linking Asia and Europe, where merchants competed for stones prized for their exceptional clarity, colour, and crystalline structure. Their rarity and value ensured they were acquired almost exclusively by royalty and the most powerful figures of their time. The Farnese Blue belongs firmly within this elite lineage.

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A Queen Without a Dowry: Entry Into Spanish Royal History

The Farnese Blue first entered recorded European history through Elisabeth Farnese, Queen consort of Spain. In 1715, King Philip V of Spain grandson of Louis XIV required a new queen. The political climate demanded a bride of royal blood, but without excessive dynastic influence.

Elisabeth, a princess of the Duchy of Parma and a descendant of Pope Paul III, met these requirements precisely. However, Spain’s finances had been devastated by the War of the Spanish Succession, and her father was unable to provide a traditional royal dowry.

To compensate, Spain turned to its global colonies. In August 1715, the so-called “Golden Fleet” departed Cuba carrying gold bullion and precious gemstones gathered for the royal wedding. A hurricane in the Gulf of Florida destroyed nearly the entire fleet, consigning its riches to the sea.

One extraordinary diamond survived.

The governor of the Philippine Islands presented a pear-shaped blue diamond to the new queen. That stone would become known as the Farnese Blue.

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Three Centuries in Royal Exile

From that moment onward, the Farnese Blue passed quietly through Europe’s most powerful royal houses. Elisabeth Farnese bore seven children and worked tirelessly to secure dynastic influence across the continent. The diamond was likely entrusted to her son Philip, founder of the House of Bourbon-Parma.

It subsequently passed through successive generations: to Ferdinand, to King Louis of Etruria, and then to Charles Louis (King Louis II), who mounted the diamond as a tie pin. Political upheaval forced him into exile under the title Comte de Villafranca, yet he retained the diamond throughout his life.

Upon his death in 1883, the Farnese Blue passed to his grandson Robert, the last ruling Duke of Parma. After losing his throne, Robert sought refuge with his cousin, Emperor Franz Joseph of Austria, taking the diamond with him.

The stone later passed to Prince Elia and his wife, Archduchess Maria Anna of Austria. Her meticulous jewellery inventories proved invaluable to history, preserving the diamond’s provenance with remarkable clarity. Among her collection was a tiara containing diamonds once owned by Marie Antoinette. She incorporated the Farnese Blue still set as a tie pin into that tiara and wore it frequently.

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Reemergence at Sotheby’s: From Royal Secrecy to Public Record

Following the collapse of the Austrian Empire in 1918, the Farnese Blue disappeared once again from public view. For decades, it remained absent from scholarship and gemological examination.

Its reappearance in 2018 marked a pivotal moment. Now mounted within a colourless diamond halo on a detachable pin, the Farnese Blue was examined and graded by the Gemological Institute of America for the first time. It received an official classification as a natural Fancy Dark Gray-Blue diamond with SI1 clarity.

That same year, Sotheby’s offered the stone at auction for the first time in its three-hundred-year history. The result confirmed what experts already understood: a natural diamond of exceptional rarity, when paired with uninterrupted, well-documented royal provenance, transcends its material value.

The Farnese Blue stands today as one of the most extraordinary surviving diamonds of European royal history an enduring witness to the rise and fall of empires, preserved through centuries by those who understood its significance long before the modern world was permitted to see it.

Diamond Industry Pioneer Louis Glick Passes Away at 102

 

Louis “Louie” Glick, one of New York’s most respected diamond dealers and a pioneering force behind the rise of yellow diamonds, passed away on 10 January at the age of 102.

Born in 1924, Glick entered the diamond trade at just 21 years old, founding the diamond company that would later bear his name. His firm went on to become a De Beers sightholder in 1976, cementing his position among the industry’s elite.

Glick was widely recognised for his visionary role in advancing yellow diamonds into the mainstream market. Together with his business partner Stanley Doppelt, he co-created the StarBurst cut — a modified radiant cut designed specifically to enhance yellow diamond colour. The innovation played a crucial role in increasing demand for fancy yellow diamonds, as documented in GIA’s Gems & Gemology.

Don Spak, who previously worked under Glick, credited him with reshaping industry attitudes toward coloured diamonds.

“Mr Glick believed in the yellow diamond market and helped develop it,” Spak wrote on LinkedIn. “Today, there is not a designer, manufacturer, or retailer who does not carry yellow diamonds in their collections or inventory. The place of yellow diamonds will forever be part of the industry thanks to people like Louis Glick.”

Among his many achievements, Glick was also part owner of one of the world’s most famous yellow diamonds — the extraordinary 407-carat Incomparable.

Former Stuller vice president Stanley Zale reflected fondly on his time working with Glick, describing him as both a brilliant businessman and a deeply principled individual.

“The word mensch doesn’t even begin to do justice to who he was,” Zale. “He was the smartest businessperson I’ve ever known. If you wanted to learn the diamond business, he was the person to learn it from. He led with humility, kindness and respect. It was an honour to have known and worked for him.”

Glick’s influence extended well beyond his own success. His nephew, diamond dealer Daniel Sklarin, noted that Glick’s greatest legacy was the people he helped along the way.

“He was a giant in the diamond business, and at his height there was no one even close,” Sklarin said. “His greatest successes were the many individuals he helped establish their own paths in the diamond trade.”

Louis Glick is survived by his son, Simon Glick, and his daughter, Esther Pluchenik. His legacy as a visionary, mentor and true gentleman of the diamond industry will endure for generations.

Source: DCLA

Angola Diamond Mines Generate $1.8 Billion in Revenue Despite Pricing Pressures

 

Angola’s diamond sector delivered a robust production and sales performance in 2025, generating approximately $1.8 billion in rough-diamond revenue, even as global trading conditions remained challenging.

According to Sodiam, Angola’s state-owned diamond marketing and sales authority, the country exported 17.2 million carats of rough diamonds during the year, representing a 69% increase compared with 2024. Total sales volume rose by 70% to 17.7 million carats, while overall sales value increased by 21% year-on-year, highlighting Angola’s growing capacity to bring rough supply to the international market.

Sodiam attributed the strong volume growth to improved sales management practices, including tighter inventory control and strategies aimed at preventing excess stock accumulation. These measures helped stabilise cash flow and improve market access at a time when demand across parts of the midstream remained under pressure.

Angola’s rough diamond output is sourced primarily from major mining operations, including the Catoca, Luele, and Lulo deposits. In particular, increased production at the Luele mine played a pivotal role in boosting export volumes and strengthening Angola’s position as one of Africa’s leading diamond producers.

“These figures reflect a significant expansion in the country’s capacity to place its diamonds on the international market,” Sodiam said, pointing to operational efficiencies and sustained investment in mining infrastructure.

Despite the strong gains in volume and revenue, average realised prices declined by 29% on a per-carat basis, underscoring ongoing pricing pressure in the global rough diamond market. The price contraction reflects softer demand in certain size and quality categories, as well as continued caution among manufacturers and traders.

For the wider diamond industry, Angola’s 2025 performance illustrates a clear divergence between volume-led growth and price dynamics, reinforcing the importance of disciplined production, transparent sales mechanisms, and accurate grading and valuation standards as market conditions continue to evolve.

Source: DCLA

Petra Recovers Huge 41.82-ct Blue Diamond

 

Petra Diamonds today announced the recovery of a huge 41.82-carat Type IIb blue diamond at its Cullinan Mine, in South Africa.

The UK-based miner described the stone as being of “seemingly exceptional quality in terms of both its colour and clarity”.

The iconic Cullinan mine is known for recovering high-value blue stones.

Last April it sold a 14.76ct blue stone, of “exceptional color and clarity” for $8.2m.

In July 2021 it sold a 39.34-carat blue diamond for $40.18m. The Letlapa Tala collection of five blue diamonds sold in November 2020 for $40.36m.

And a 29.60-carat rough that was cut into the Blue Moon sold for $25.6m in February 2014. It was subsequently auctioned in 2015 for $48.5m to Hong Kong billionaire Joseph Lau, who renamed it the Blue Moon of Josephine.

Petra says it is in the process of analyzing the stone and deciding on a preferred method of the sale.

In October Petra Diamonds announced details of a $25m rights issue to keep the company afloat as it battles falling prices and production, together with rising debt and cash flow difficulties.

Revenue for FY2025 was $206m, down 33 per cent year-on-year from $309m and net debt increased to $264m.

Source: DCLA

De Beer’s 1873 Diamond, Still in Kimberlite

 

An extremely rare relic from the earliest years of the Kimberley diamond rush – a rough stone, still embedded in kimberlite – sold at auction in London for £10,500 ($14,000).

It dates back to the New Rush at Colesberg Kopje (now better known as the Kimberley mine), in South Africa that began when diamonds were first discovered there in 1871.

Furlong Auction House, at the London Diamond Bourse, in Hatton Garden, included it in a collection of “rare and highly desirable items across jewellery history” in its Collectables & Memorabilia auction on 8 January.

“This hand specimen of kimberlite (“blue ground”) contains a visible natural diamond crystal embedded in the matrix and retains its original manuscript presentation label dated May 23rd, 1873,” it said in the lot notes.

“The handwritten note – both on the specimen itself and on a later transcribed slip – reads: “Rev’d W. Thompson – A token of esteem from the Cong’l Church, De Beers New Rush, May 23, 1873. M.M.S., Sec’y.”

It said surviving labelled geological specimens from this period – especially with an exposed diamond crystal – were exceptionally scarce.

Source: DCLA

Global Diamond Industry Shows Signs of Recovery: What Is Driving the Rebound?

 

After three challenging years marked by geopolitical disruption, shifting trade routes, and weakened consumer confidence, the global diamond industry is beginning to stabilise and recover. While price volatility persists in certain segments, demand is gradually rebuilding, particularly across the world’s primary luxury markets. Industry professionals broadly agree that the recovery remains uneven, but the direction is clear: a slow yet meaningful turnaround is underway.

Senior figures within the international jewellery trade point to improving economic sentiment as a key catalyst behind renewed interest in diamonds. Changing consumer behaviour is also playing a central role. Natural diamonds continue to dominate global engagement ring sales, retaining their status as the benchmark for long-term value and emotional significance. However, competition from lab-grown diamonds is intensifying, and the market share gap is narrowing.

In major Western markets, lab-grown diamonds are gaining traction, particularly among younger buyers who place greater emphasis on size, clarity, and price accessibility than on tradition. This generational shift is reshaping purchasing decisions and influencing how value is assessed at the point of sale.

Pricing dynamics underscore this transformation. Over the past year, prices for smaller natural diamondsespecially those under one carat have experienced notable declines. At the same time, lab-grown diamond prices have fallen even further, driven by rapid technological advancements and expanding production capacity. Together, these opposing movements have redefined the competitive landscape, prompting consumers to compare value propositions more closely than ever before.

While challenges remain, the combination of stabilising demand, evolving consumer preferences, and market-driven price realignment suggests the diamond industry has entered the early stages of recovery, with long-term implications for both natural and lab-grown sectors.

Source: DCLA