The value of rough diamond sales for the fifth sales cycle of 2023, which included international sightholder sales and auctions, declined 32% year over year, according to De Beers. The tentative sales value for Cycle 5 2023 (5–20 June) was $450 million, which is a 32% decrease from Cycle 5 2022 sales of $657 million and a 6% dip from Cycle 4 2023 sales of $479 million.
“Following the JCK Show, and with ongoing global macroeconomic challenges continuing to impact end-client sentiment, the diamond industry remains cautious heading into summer,” said Al Cook, CEO of the De Beers Group. The fifth sales cycle of the year showed slightly lower demand for De Beers raw diamonds than the fourth cycle, which is indicative of this.