Sight 5 Dominated by Sight Application Announcements and ITO’sJune 09, 05
Sight 5 started with probably all Sightholders holding some degree of concern over the future of their Sight. However a sigh of relief was no doubt heard when the DTC announced that all existing applicants will continue with the 2005 – ‘08 contract, adding 11 applicants to its Sightholders list.
Otherwise, Sight 5 is estimated at $450 - $500 million, as the De Beers marketing company is mostly fulfilling Sightholders Intention To Offer (ITOs). The second half of the year ITOs were also handed out today, with some clients reporting a significant increase in their allocation.
Meanwhile, premiums on DTC boxes continue to be high, with dealers reporting 2+ carats I2 goods doing especially well, 5+ carats across the board and SI goods are doing very well too. On the other hand, prices of -1 carat pique items are softening.
Sightholders noted that box assortments were consistent, some noting better colors of what looks like Russian mined goods.