Tell Us More

Share a bit more information with us
to finalize your Free Quote request.

You are looking for information regarding:

2 to 10+ carat
Round Diamond
Country
United States Afghanistan Aland Islands Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia, Plurinational State of Bonaire, Sint Eustatius and Saba Bosnia and Herzegovina Botswana Bouvet Island Brazil British Indian Ocean Territory Brunei Darussalam Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Chinese Taipei Christmas Island Cocos (Keeling) Islands Colombia Comoros Congo Congo, the Democratic Republic of the Cook Islands Costa Rica Cote d'Ivoire Croatia Cuba Curaçao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands (Malvinas) Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Holy See (Vatican City State) Honduras Hong Kong Hungary Iceland India Indonesia Iran Iran, Islamic Republic of Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Korea Korea, Democratic People's Republic of Korea, Republic of Korea (South) Kuwait Kyrgyzstan Lao People's Democratic Republic Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macedonia, the former Yugoslav Republic of Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Moldova, Republic of Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island Northern Mariana Islands Norway Oman Pakistan Palestinian Territory, Occupied Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Republic of China Reunion Romania Russian Federation Rwanda Saint Barthélemy Saint Helena, Ascension and Tristan da Cunha Saint Kitts and Nevis Saint Lucia Saint Martin (French part) Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Sint Maarten (Dutch part) Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syrian Arab Republic Taiwan Tajikistan Tanzania, United Republic of Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States Minor Outlying Islands Uruguay Uzbekistan Vanuatu Venezuela, Bolivarian Republic of Vietnam Virgin Islands, British Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe

1990: Millennium Diamond Sales Will Mark Years of Diamond Growth in the U.S.

Summer 1999

De Beers seems to be well on its way to an outstanding change-of-the-millennium with a reported $2.45 billion in first-half sales for 1999, a leap of 44%. The improved sales figures are seen by analysts as a healthy recovery of the Company over the last 18 months. First-half sales in 1998 were $1.7 billion, down from 1997’s $2.8 billion.

Stronger Retail Demand

De Beers attributes the plummeting sales of 1998 to the Asian economic crash, in particular the Japanese market which, at 20%, comes in second in the line-up. Experts worldwide believe that the Japanese market is bottoming-out and that the decline of the first half of 1999 is much less than last year’s. With the rapid growth of the market in China and as the East Asian markets have begun to recover – with particular note, South Korea, up 8% – and luxury items are once again in demand, De Beers may find itself with a very happy New Year, indeed.

The millennium marketing campaign, including sales of 20,000 specially branded, numbered and packaged “Millennium Diamonds,” is well under way and, while De Beers has spent hundreds of thousands on the plan already, the Company clearly believes there’s gold in them thar ads. The U.S. accounts for almost 50% of sales and demand continues to rise, up by 8% in the first quarter of this year. If demand continues through the second half of 1999, the U.S. will mark nine consecutive years of growth.

Won’t You be Mine?

And, as if all these romantic sales weren’t enough, De Beers and BHP Diamonds announced the signing of the definitive contract for the sale of 35% of the run-of-mine production from the Ekati mine in Canada’s Northeast Territories to De Beers. That percentage is equal to between $130 and $140 million in both industrial and gem-quality diamonds. One wonders if the tiny maple leaf currently being engraved on diamonds from the Ekati mine will give way to a South African lion, but it seems, for both companies involved, to be an excellent match.

An End to the Siege

Even the negatives of the past few months are turning out well for De Beers these days. Although the three-month delay in export of goods from the South African mines will certainly have a negative impact in the next quarter, that stalemate has been resolved, at least for now. De Beers has resumed limited exporting of goods, still no large stones or specials, but no one – not De Beers and not DVIC, the company that was recently appointed to the position government diamond valuator – is talking about how they came to that agreement or even what the terms of any agreement will be. It has been stated by Victor Sibiya, CEO of the Diamond Board, that whatever the agreement is, it will be “short-term” and that the fight isn’t over yet.

As well, one of De Beers’ partner companies, Anglo American, which recently made a move from South Africa to the UK, is coming back around after a short stock slide. Anglo’s stock had gotten a running start in April when the Company first moved to London. But May’s extreme volatility had even hard-core investors worried. July’s leveling off of the stock has been a welcome development, both for Anglo and for De Beers.

Related Articles

1990

Diamond Retailers Look Satisfied With De Beers’ Diamond Marketing Campaigns

1990

Wholesale Diamond Sales Margins at U.S. Diamond Stores

1990

Diamond Board South Africa Aim at Promoting Fair Diamond Deals