UpFront

SMALL DE BEERS SIGHT MAY HURT NEW YORK TRADE De Beers released another very small (approximately $250 million) sight in March. It had its intended effect of drying up excess diamond supplies and stabilizing prices in small sizes and some lower qualities, say key diamond executives. Sights were cut across the board, from the smallest dark Indian rough to the over-10-ct. specials. Many sightholders received no goods at all in February and March. Sources within India, where depressed prices and oversupplies have been most acute, say both began stabilizing at the end of the first quarter of the year. “Prices are firming across the board there,” says Mark Boston, managing director of H. Goldie & Co., the London diamond broker firm. “Having gone this far with its small sight policy, the Trading Company [De Beers] can’t let up now. This is the CSO’s traditional role.” Ne
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