De Beers Sells Rough Worth $500 Million At 8th Sight

De Beers said its eighth sight held from 19th September to 4th October witnessed rough diamond sales of $500 million, an increase of 1.62% on a year-on-year basis, but down 22% versus the preceding seventh sight of 2022.

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.”

Cycle 8 2022 (provisional)Cycle 7 2022 (actual)Cycle 8 2021 (actual)
Sales value ($m)500638492
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