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1990: Diamond News Bulletin Includes Decreased Profit Margins from Diamond Sales

February 1999

It was the year in which: De Beers rough sales were down by 28%, to $3.34 billion…but U.S. polished imports increased to $8 billion.

It was the year in which: The Russians signed an agreement with the CSO…but the Canadians did not.

It was the year in which: The first major Canadian Diamond mine officially opened…but quantities of Canadian rough did not reach the market.

It was the year in which: Gold and platinum prices were down…but precious jewelry sales in the U.S. continued to rise.

It was the year in which: Diamond sales were down in Japan and Southeastern Asia…but prices held steady.

It was the year in which: The GIA scientific research proved that there is no one “ideal cut” …but the secret has not yet reached the consumer.

It was the year in which: The civil wars in Africa reduced rough production…but smuggled African goods still reached the open market.

It was the year in which: One of Israel’s largest exporters was unable to meet payments…but the domino effect forecast did not take place.

It was the year in which: The U.S. became the first destination of diamonds cut in all diamond centers…but sales from the U.S. to other countries declined.

It was the year in which: Jewelry and diamond sales on the Internet tripled…but remained a tiny fraction of total sales.

It was the year in which: U.S. diamond sales increased…but profit margins decreased.

It was the year in which: Branding became a difficult issue in the trade…but has yet to be clarified by its proponent, De Beers.

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