SourcingNov 19, 2021
Rio Tinto’s Now the Sole Owner of Canada’s Diavik Diamond MineSourcingDec 01, 2021
Miners’ Year-Over-Year Sales Dip in October, November
Some question if the rough market is cooling off even as diamond jewelry sales to end consumers remain strong.
De Beers Group’s rough diamond sales were down 7 percent year-over-year in its latest sales cycle (Nov. 8-23) while Alrosa saw rough and polished sales slip about 1 percent in October. (© De Beers Group/Photo credit: Ben Perry @ Armoury Films)
New York—The industry’s two largest diamond miners both recorded year-over-year declines in sales recently, an indication, some say, that the recently red-hot rough market might be slowing down.
In the ninth sales cycle of the year (Nov. 8-23), De Beers Group moved $430 million in rough diamonds, down 7 percent year-over-year—its first year-over-year decline of 2021—and down 13 percent from $492 million in the previous sales cycle.
De Beers CEO Bruce Cleaver attributed the slowdown to cutting factory closures in India on and around the Diwali holiday (observed Nov. 2-6). De Beers also noted that factories in India chose to have shorter Diwali breaks in 2020 to take advantage of the market recovery.
He projected the slowdown would continue into sales cycle 10, the final sales cycle of the year, as factories in South Africa shutter for Christmas.
However, in a post on LinkedIn, industry analyst Edahn Golan questioned if De Beers’ cycle 10 slowdown is a signal the rough market is cooling off, not a Diwali-related drop-off.
In the ninth sales cycle of the year (Nov. 8-23), De Beers Group moved $430 million in rough diamonds, down 7 percent year-over-year—its first year-over-year decline of 2021—and down 13 percent from $492 million in the previous sales cycle.
De Beers CEO Bruce Cleaver attributed the slowdown to cutting factory closures in India on and around the Diwali holiday (observed Nov. 2-6). De Beers also noted that factories in India chose to have shorter Diwali breaks in 2020 to take advantage of the market recovery.
He projected the slowdown would continue into sales cycle 10, the final sales cycle of the year, as factories in South Africa shutter for Christmas.
However, in a post on LinkedIn, industry analyst Edahn Golan questioned if De Beers’ cycle 10 slowdown is a signal the rough market is cooling off, not a Diwali-related drop-off.
Cleaver said De Beers expects to see “positive conditions” for the industry in the new year following what’s expected to be a strong holiday season for diamond jewelry sales.
Year-to-date, De Beers’ rough diamond sales total stands at $4.48 billion, up 89 percent from $2.36 billion in the same period last year, though it is worth noting De Beers had one less sales cycle in 2020 because of the pandemic.
Compared with year-to-date 2019 ($3.6 billion), De Beers’ sales are up 24 percent.
In October, Alrosa’s diamond sales totaled $308 million ($293 million in rough and $15 million in polished), a slight dip when compared with $310 million in diamond sales in October 2020. This is the second month in a row the miner has recorded a year-over-year decline in monthly sales.
Alrosa’s October sales were, however, up 3 percent from September’s total of $298 million.
Year-to-date, the miner has sold $3.58 billion in rough and polished diamonds, 89 percent ahead of where it was at this point last year.
Deputy CEO Evgeny Agureev said jewelry demand continues to increase by double digits in key markets, a trend both retailers and cutters see continuing through the end of the year, while rough diamonds remain in short supply due to cuts in diamond production.
It’s an imbalance Alrosa said it aims to correct, while keeping in mind the health of the mid-stream.
“As end consumer demand for natural diamond jewelry remains high, Alrosa aims to gradually restore the supply and demand balance, despite the limited capacities to increase production,” he said. “At the same time, we are committed to our policy of selling rough diamonds only against actual demand.”
Editors' Picks
Sponsored by
The Latest
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
