Connect with us

Headlines

De Beers Slashes Diamond Prices in First Sale of the Year

mm

Published

on

 

Credit squeeze, slower sales in China prompt the price cut.

In an attempt to stimulate demand, De Beers will reduce diamond prices in its first sale of 2016, Bloomberg reports. The article says that prices will be lowered by up to 7 percent as the diamond-producing giant readies to offer about $450 million of diamonds for sale. The sale comes as “slower diamond jewelry sales in China, the top buyer after the U.S., and a credit crunch in the industry has sapped demand. That’s left cutters and traders with excess stockpiles, and forced the biggest producers to cut output and prices.”

Read more at Bloomberg

Advertisement

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

Promoted Headlines

Most Popular