De Beers lowered diamond prices within a year
De Beers company lowered the official prices of diamonds for the first time in a year. This was reported by Zamin.uz.
According to Bloomberg agency, the company last made such a decision in December 2024. Earlier, De Beers had offered certain types of diamonds at a discount in closed sales to maintain market control.
However, at that time, official prices in some categories remained about 25 percent higher than market prices. Several factors led to the reconsideration of prices.
In particular, the decline in demand for luxury jewelry in China, the popularization of synthetic diamonds, and the imposition of high customs duties on diamonds exported from India to the US prompted the price reduction. In the sales at the beginning of the year, De Beers significantly lowered the prices of uncut diamonds, especially those larger than three to four carats.
According to Bloomberg, the company usually refrains from lowering prices to avoid destabilizing the market, but this time an exception was made. The extent of the price reduction has not yet been disclosed, with changes in the supply composition and pricing procedures said to have influenced it.
According to Bloomberg agency, the company last made such a decision in December 2024. Earlier, De Beers had offered certain types of diamonds at a discount in closed sales to maintain market control.
However, at that time, official prices in some categories remained about 25 percent higher than market prices. Several factors led to the reconsideration of prices.
In particular, the decline in demand for luxury jewelry in China, the popularization of synthetic diamonds, and the imposition of high customs duties on diamonds exported from India to the US prompted the price reduction. In the sales at the beginning of the year, De Beers significantly lowered the prices of uncut diamonds, especially those larger than three to four carats.
According to Bloomberg, the company usually refrains from lowering prices to avoid destabilizing the market, but this time an exception was made. The extent of the price reduction has not yet been disclosed, with changes in the supply composition and pricing procedures said to have influenced it.
