De Beers’ Quiet Discounts Raise Eyebrows in the Trade
Word is spreading that De Beers has been quietly offering 10-20% discounts on rough diamonds — but only to a select few siteholders. That’s not sitting well with others in the industry who’ve had to pay full price at official sales.
De Beers typically holds ten sales a year in Botswana for its roster of around 70 registered siteholders. Prices at these events are non-negotiable.
But behind the scenes, the company has reportedly been cutting special deals in an effort to move overwhelming inventories — without officially lowering prices. The result? A growing disconnect between De Beers’ site prices and what the broader market sees as fair value.
For those on the outside of these quiet discounts, the situation feels like a betrayal — and it’s adding strain to an industry already facing plenty of challenges.
As first reported by Bloomberg News / Creamer Media on May 13, 2025.
“In recent months, De Beers has sold hundreds of millions of dollars of rough diamonds through side deals with a small number of its customers, according to buyers who asked not to be identified discussing private information. The company has been selling the stones at a 10% to 20% discount to its set prices, the people said.
“Rumors about the sales are adding to tensions among De Beers’s buyers who weren’t selected for the special deals and are still expected to pay the company’s official rate at its set-piece sales. The deals show the dilemma De Beers faces as it comes under pressure from owner Anglo American to boost sales, while it’s also seeking to support the global market by avoiding across-the-board price cuts.
“The almost unprecedented move by De Beers comes at a pivotal time for the company that invented the modern diamond industry. The diamond market has finally started showing signs of stabilizing after a prolonged demand crisis that sent global prices plunging, although Donald Trump’s trade war has created fresh turmoil, with the diamond industry scrambling to avoid proposed levies.
“De Beers itself is under pressure from Anglo to reduce costs and stem losses. The larger miner is seeking to sell the diamond business as part of its own turnaround strategy announced last year. While a sale may take some time, De Beers’ management is under strict instructions to stop building stockpiles of unsold stones.
“A spokesperson for De Beers declined to comment.”
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… and watch Avi Kravitz’s video report at TheDiamondPress.com here!
