Connect with us

Headlines

Don’t Expect a ‘Stellar’ Diamond Market, De Beers Says

Published

on

Global demand for diamonds fell last year.

The diamond market isn’t likely to be “stellar” in the near future, according to De Beers.

Bruce Cleaver, CEO of the company, tells Rapaport News: “The rest of 2016 and 2017 are not going to be stellar years from a global GDP point of view or in terms of diamond jewelry consumption.”

De Beers is maintaining a cautious outlook, according to the article. De Beers recently released a new Diamond Insight Report.

In 2015, worldwide demand for diamonds dropped 3 percent to 79 billion, according to De Beers.

Cleaver notes, however, that millennials represent a “major opportunity” going forward,” as they are still “10 years away from their most affluent life stage.”


Read more at Rapaport News

Advertisement

Advertisement

SPONSORED VIDEO

Thinking of Liquidating? Think: Wilkerson

When Peter Reines, owner of Reines Jewelers in Charlottesville, VA, decided it was time to turn over the “reins” of his 45-year-old business to Jessica and Kevin Rogers, he chose Wilkerson to run his liquidation sale. It was, he says, the best way to maximize the return on his decades-long investment in fine jewelry. Now, with new owners at the helm, Reines can relax knowing that the sale was a success, and his new life is financially secure. And he’s glad he partnered with Wilkerson for this once-in-a-lifetime opportunity. “There’s just no way one person or company could run a sale the way we did,” he says.

Promoted Headlines

Most Popular