De Beers Is Offering Big Discounts on Low-Quality Diamonds
- The low-end diamond market is struggling because of oversupply
- De Beers usually opts to restrict supply over cutting prices
Photographer: Prashanth Vishwanathan/Bloomberg
De Beers made steep cuts in the prices of low-quality stones at its sale this week, according to people familiar with the situation.
The world’s biggest producer reduced prices as much as 10 percent for low-quality stones, said the people, who asked not to be identified because the sales are private. It’s the latest sign that the bottom end of the market is in turmoil.