De Beers’ Third 2014 Sight Valued at $700 Million

Rapaport said yesterday that De Beers’ third 2014 sight ended with an estimated value of $700 million following a rise of 3 to 4 percent in the company’s rough diamond prices.

As quoted in the market news:

Box assortments were relatively unchanged and some ex-plan was offered. Trading on the secondary market subsequently slowed and premiums declined.

‘The market for second-hand boxes is dead,’ said a sight participant. ‘The price increase was expected but many boxes are now very expensive.’

David Johnson, head of midstream communications for De Beers, acknowledged that prices were adjusted by low single digit percentages. He reported that there was good demand for rough and that sentiment was still positive among sightholders.

Click here to read the full Rapaport report.