The April sight of De Beers closed with a value of $520 million amid concerns among manufacturers that higher rough prices could affect profit margins.
De Beers raised prices by 1% to 2% from the previous sale for larger size categories. In addition, De Beers adjusted the way it arranged stones into assortments that it sells, resulting in most of the boxes of goods increasing in price, clients explained.
“It’s very difficult to see profit on the boxes when you manufacture the goods,” a sightholder stated.
Cutters have little choice but to accept the high prices, as the alternative is to jeopardize their sightholder status, rough broker Dudu Harari said in a report on the sight.
“Since they stand to lose money manufacturing, many sightholders prefer to trade their rough rather than dealing with