Diamond mining giant De Beers has recently reduced prices for its rough diamonds across the entire spectrum by a minimum of 10%, according to reports quoted by IDEX Online.
Insiders reveal that certain larger diamonds are now available at discounted rates of up to 25%, a move coinciding with the opening of the first Sight of the year in Gaborone, Botswana. Notably, the most significant price reductions at the current Sight are reportedly applied to 2-4 carat “select makeables with a clarity range of SI2 to I2.”
This initiative comes as De Beers aims to stimulate sales, given that the last two Sights of 2023 generated only $216 million, a steep fall from the $871 million recorded the previous year.
Recently, De Beers has reinstated its rough online sales, which comprises about 10% of its overall operations, after a hiatus that began in September.
