De Beers Announces Five New Sightholders

De Beers just appointed five new sightholders—though, as is its idiosyncratic custom, it is not releasing their names yet.

The names were not announced because “while these companies have qualified for sightholder status for the final [intention to offer] period of the current contract, their first Sight will actually be in May,” says spokeswoman Lynette Gould. “So they haven’t formally been appointed to the list yet.”

The new mystery clients were appointed under De Beers’ new “dynamic” sightholder application process, which allows companies that have demonstrated strong demand at De Beers’ online auctions to formally apply to become clients.

The new additions won’t have much time to enjoy their new status—the current contract runs out in 2015, and applications for the new one will begin in the third quarter of this year.

For the upcoming application, De Beers has pledged a simplified application but more rigorous financial compliance criteria.

JCK News Director