Diamdel says demand for rough diamonds still firm

De Beers’ Diamdel said its online diamond auction held last March has shown a consistent demand growth for rough from emerging market buyers.
It said in a statement emailed to Rough&Polished that 580 lots were made available for the auction spanning Large, +2ct, Grainers, Smalls and Near Gem Diamdel Days product categories.
Diamdel said demand for products in Near Gem and Grainer categories showed the greatest increases followed by +2ct products.
Although demand for products in Smalls and Large categories fell back slightly from cycle 1, buyer appetite for these products remained robust at the highest levels witnessed since July 2011, it said.
‘‘Demand from buyers across all major markets held firm during this second but shorter cycle of sales of 2012,” said Diamdel chief executive Neil Ventura.
“Demand growth from emerging market buyers, especially India, was most pronounced and our view was, is and remains that demand will continue to grow as we negotiate sales into Q2.”
Diamdel said that competition at the auctions between Sightholders and Non Sightholders resulted in Non Sightholders winning 61 percent by value.
It said 156 different businesses bid at the auctions, with competition efficiently and effectively allocating the 520 lots that sold to 100 different buyers.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished