RE:Latest on DeBeers diamond sales.De Beers sells gems at 10 sales a year in Botswana to a select group of customers. The buyers are expected to specify the number and type of diamonds they want, and then carry out the purchases at a price set by De Beers.
That is why they are not selling their share of diamonds , becuase thye dictate the price which is generally 20% higher than what the market is. If the buyers don't fullfill their commitment they lose the privilege of bidding on Debeers diamonds.
On the other hand the reason we sell all of our diamonds is because we sell at market demand. and our prices have stabilized . This coming quarter hopefully will confirm that.