Harry Winston: U.S. Sales Up, Diamond Prices Down



Harry Winston Diamond Corporation’s U.S. sales have “been particularly strong” in the first two months of the quarter, the company announced in an interim trading update released Oct. 10.

The company, which is a noted retailer as well as part owner of the Diavik mine in Canada’s Northwest Territories, also announced that the price of polished round diamonds has declined 10 percent since the beginning of July, after having increased 25 percent over the past year. 

The company added that the price changes are not uniform, with some items, such as fancy shapes, not currently showing declines.   

In addition, rough diamond prices have increased by around 50 percent over the past year, the company said, adding they are “now correcting against polished prices.” 

The company also announced it was deferring some rough sales until the fourth quarter. 

“We have elected not to make broader rough diamond sales into an unstable market that seeks bargains,” said chairman and CEO Robert Gannicott in a statement.

JCK News Director