De Beers July sight estimated at P6.8bn

Friday, July 25, 2014

The De Beers July sight closed with an estimated value of $775 million. De Beers reportedly raised prices slightly on most goods by 1 percent to 2 percent with sharper hikes in the prices of smaller and lower quality diamonds. Sightholders noted that De Beers also changed the assortment in its presentation which partially offset the higher prices of its boxes.

The mood at the sight was mixed, as sightholders viewed the price increases as fair despite the sluggish polished market.

“I would say the mood was appropriately subdued, not particularly buoyant but not too bad either,” said one Israel-based sightholder. “Some of the small, sawable goods received a lot of attention.”

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