De Beers has lowered official diamond prices. According to Bloomberg, the company last cut prices in December 2024.
Earlier, De Beers offered some stones at a discount in closed tenders to support the market, but official prices in certain categories remained about 25% above market levels.
Several factors drove the price review: weakening demand for luxury jewelry in China, the growing popularity of lab-grown diamonds, and high U.S. tariffs on imports from India, one of the world’s largest diamond exporters.
At the year’s first sale, De Beers significantly reduced prices, especially for rough diamonds larger than three to four carats. Bloomberg notes that the company typically avoids price cuts to prevent market disruption, but this time it took that step. The exact scale of the reduction has not been disclosed yet—partly due to changes in the product mix and pricing methodology.
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