De Beers 3rd 2016 Sight Valued at $660 Million

(IDEX Online News) – The De Beers Group of Companies has announced that the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the third sale cycle of 2016 was $660 million.

The company said that rough diamond demand was “reasonably positive” and reflected continued stability polished diamond prices and sales of polished diamonds at wholesale level.

“So far, 2016 has seen significantly stronger rough diamond demand than that experienced at the end of 2015 as the actions taken by the industry continue to have a positive effect,” said De Beers Group chief executive Philippe Mellier.

He added that the industry is about to enter the time of the year when rough diamond demand has traditionally been lower.

De Beers’ first and second Sights were valued at $540 million and $610 million respectively.