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 » RockyTalky
»  » Update on De Beers Price Hike
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Update on De Beers Price Hike |
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| P: 8/19/2004 12:40:54 AM | |
BrianTheCutter Cut Rock Total Posts: 146 Last Post: 12/19/2008 Member Since: 7/26/2002 |
As regular visitors to Pricescope know, De Beers raised its prices for rough this week. Initially, the company said that they amounted to a 5% hike overall. As this present site is drawing to a close (8/16 – 8/20) it appears that after viewing the new rough boxes, that this is translating into a range that could reach up to 10%. Whereas previous price increases by De Beers affected only the larger and better quality goods (high colors and clarities G+ and VS+), this price increase is affecting smaller goods and the lower quality ranges even more. These have increased at more than the average 5%, at up to 8 -10%. I'll keep you posted on market conditions as boxes are delivered and goods are manufactured.  Brian Gavin Whiteflash.com Co-Founder and Executive Vice President through December, 2008 |
| Posted: 8/19/2004 12:40:54 AM | |
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There are 3 replies to this message. There are 3 replies on this page. |
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| P: 8/19/2004 12:58:40 AM | |
wonka27 Ideal Rock Total Posts: 628 Last Post: 9/13/2007 Member Since: 6/22/2004 |
This will surely fry some people! I'm glad I got in under the wire with my projects. A 5-10% increase probably would have cost me $250-$500 more!
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| Posted: 8/19/2004 12:58:40 AM | |
| P: 8/19/2004 6:06:10 AM | |
Paul-Antwerp Ideal Rock Total Posts: 1,902 Last Post: 11/20/2009 Member Since: 9/3/2002 |
Hi Brian, Actually, this price hike of De Beers is just them trying to catch up with the current price level on the overall market of rough diamonds. Last month, a lot of boxes of De Beers-rough was resold with premiums between 15 and 20%. In fact, rough of other producers (BHP, Rio Tinto, Alrosa, ...) were clearly much higher than last month's prices of De Beers. Sadly, the prices of polished have not followed this increase yet. What is really happening: Stocks of De Beers are clearly lower than they consider as a good working stock, they have lower output from their mines, the same is true for other producers (see Argyle), and there have been no new finds of significant economically mineable rough deposits. Other factors (currency-problems and local manufacturing) also decrease the inflow of rough diamonds into the free rough diamond market. We will have to see how the market (of rough diamonds) reacts to this latest official increase of De Beers. Chances are that it will be considered too little too late, and that premiums on second-hand rough of De Beers will remain. Frankly, I think that we are not at the end of price increases yet. Live long, Paul Slegers |
| Posted: 8/19/2004 6:06:10 AM | |
| P: 8/19/2004 2:04:04 PM | |
CaptAubrey Ideal Rock Total Posts: 862 Last Post: 3/23/2009 Member Since: 3/28/2004 |
some more thoughts on how we got here:
most interesting is the assertion that de beers has only about one sight's worth of stock on hand. it would explain a lot.
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| Posted: 8/19/2004 2:04:04 PM | |
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