De Beers raises prices 3%, adds sightholders

Just prior to the JCK Show in Las Vegas, De Beers announced a “price adjustment” that will result in an “under three percent” boost in the price of its items, beginning with the June sight.

A De Beers statement said the increase “has been focused on categories where there is the strongest demand for polished”—which many took to mean bigger goods.

Sightholders say it is impossible to know which goods were impacted until they saw their first post-increase boxes. This is the company’s second price increase this year. The first, effective with the January sight, also raise prices three percent.

In 2004, it raised prices an average of 14%, the company said.

Two non-traditional sightholders—Tiffany and Stuller Settings—lead the list of new clients appointed by De Beers’ Diamond Trading Company.

Tiffany won a sight in London in conjunction with Rand Precision Cut Diamonds. The company already has a joint venture with Rand in Africa. Stuller was widely expected to receive a sight. This is its second application.

Other new sightholders include four from India, one from Belgium, and two from Hong Kong and China. Rosy Blue received a new sight for its African factory.

Israel did not receive any new applications.

None of the company’s current 84 sightholders were dropped.