SourcingMay 26, 2022
Q&A: Deciphering De Beers’ Blockchain PlatformSourcingJun 23, 2022
Rough Diamond Sales Rise Again for De Beers
Sales were up 36 percent year-over-year in June and are pacing 24 percent ahead of last year at this point.
De Beers Group reported rough diamond sales of $650 million in June, up from $477 million in roughly the same period in 2021 and $604 million in May. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films)
Gaborone, Botswana—De Beers Group’s rough diamond sales jumped 36 percent year-over-year in June, with the company attributing the increase to continued demand for diamond jewelry in the U.S. market.
De Beers reported Wednesday that sales of rough diamonds to sightholders and auction clients totaled $650 million in its fifth sales cycle of the year (June 6-21), compared with $477 million in roughly the same period last year.
Month-over-month, sales are up 8 percent from $604 million.
Year-to-date, De Beers’ rough diamond sales have totaled $3.13 billion and are now pacing 24 percent ahead of last year ($2.53 billion), up from 21 percent last month.
CEO Bruce Cleaver said diamond jewelry continues to perform well in the U.S. market, a trend reinforced by the positive sentiment in the trade following a busy and, many say, lucrative JCK Las Vegas show.
“The continued strength of U.S. demand for diamond jewelry and the gradual reopening of retail outlets in China following COVID-19-related lockdowns have supported the sales momentum of De Beers Group’s rough diamonds in the fifth sales cycle of the year,” he said.
Also helping to boost De Beers 2022 sales are the sanctions placed on Alrosa in light of Russia’s ongoing war in Ukraine, analysts have noted.
While the sentiment coming out of the Las Vegas trade shows largely is positive, the most recent reports about U.S. diamond and jewelry sales are mixed.
In its SpendingPulse report released June 14, MasterCard had jewelry sales increasing 22 percent year-over-year, and up 65 percent when compared with May 2019, pre-pandemic.
According to Mastercard SpendingPulse, US jewelry sales leaped 22% YoY in May. I doubt that growth against a fantastic 2021. Our data shows a 1.1% growth in jewelry and a 4.4% decline in diamonds.
— Edahn Golan (@edahn) June 16, 2022
That said, it's worth checking out.https://t.co/Gmh9KwPibc
In a tweet, diamond industry analyst Edahn Golan called into question MasterCard’s bullish report, particularly as 2022 sales are up against a “fantastic” 2021.
In an article on his own website on diamond sales, Golan cited data from Tenoris showing diamond unit sales in the U.S. were down 24 percent year-over-year in May and declined from the previous month, which is unusual since diamond sales usually rise in May due to Mother’s Day.
“The expected cool-down [in diamond sales] is here,” he wrote. “This was not only expected, but also reasonable considering the rising cost of fuel, housing, and household products, along with the tanking stock market.”
It is not “the end of the world,” he wrote, “but it is the end of a wild ride, at least for now.”
Golan also noted a decline in sales of engagement rings set with natural diamonds but rising interest in lab-grown diamonds among U.S. consumers, particularly for engagement rings.
More on Sourcing
The Latest
CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
CrimeApr 19, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
GradingApr 19, 2024
AGS Ideal Report Now Available in Printed FormFrom now through mid-May, GIA will be offering the reports at a 50 percent discount.
Weekly QuizApr 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Events & AwardsApr 15, 2024
10 Can’t-Miss Sessions at AGS Conclave 2024From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
CollectionsApr 12, 2024
Piece of the Week: Lionheart’s Evil Eye Gemstone CharmThe charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Events & AwardsApr 12, 2024
The Jewelry Symposium Announces 4 Scholarship WinnersAhead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
Policies & IssuesApr 11, 2024
SRK Exports’ Journey Toward Net Zero Impact By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairMembers can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
IndependentsApr 11, 2024
Steven Rosdal, Co-Founder of Hyde Park Jewelers, Dies at 77He is remembered for his charisma, passion, integrity, kindness, and wit.
