Demand Mixed at Diamdel Auction

Demand was mixed at the latest two auctions from Diamdel—but the De Beers division anticipates both prices and demand strengthening next year.

A Diamdel statement said that demand strengthened from buyers in Antwerp and Asia Pacific, and was steady from Tel Aviv buyers. However, demand “continued to decline from Indian based buyers,” it added.

Some 103 different businesses bid at the auctions, with 30 different businesses winning lots. Non-sightholders won 68 percent of the lots sold by value.

‘‘We have reduced our presentations of rough in recent cycles in line with our view of prevailing demand,” said Diamdel CEO Neil Ventura in a statement. “Based upon this and other indicators we anticipate both demand and prices will strengthen further in the first quarter of 2012.”