What is a Diamond Sight Sale?
“I had the privilege to speak with Brian Gavin earlier today, because the diamond that I am looking for does not seem to exist. During the conversation, Brian referenced something called a “Sight Sale” and he seemed to be on a roll, so I didn’t want to interrupt his train of thought to ask him to explain what a diamond sight sale is. Could you please tell me what a diamond sight sale is, and how this affects the availability of Brian Gavin Signature diamonds? What I’m actually looking for is a 1.90 – 1.99 carat, G-color, VS-2 clarity, round diamond, but the closest option is a 2.043 carat, G-color, VS-1 clarity, BGD Blue with strong blue fluorescence, and I’m not sure how I feel about that.”
De Beers Diamond Sight Sales:
The term “Sight Sale” simply refers to the sales process that De Beers uses to distribute diamonds to diamond cutters who participate in their Supplier of Choice program, which is based upon a schedule of sales events, which occur approximately every four to six weeks.
The De Beers Diamond Sight Sale for August, which occurred last week, distributed an estimated $714 million dollars worth of diamond rough to De Beers Supplier of Choice sight holders, who will evaluate the diamond rough, and determine how it can be best used in terms of their production and distribution requirements.
The next De Beers Diamond Sight Sale is scheduled to be held the week of October 6th, however the thing to keep in mind is that what De Beers is selling is diamond rough, which is uncut diamond; additional time is required for the diamond rough to be transported to the offices of the diamond cutters, then for the diamond rough to be evaluated and for the diamond cutting of each stone to be planned, and for the actual diamond cutting to take place, then the diamonds must be carefully examined to ensure that they meet the established production standards, and then the diamonds must be shipped to the gemological laboratories for grading, and then shipped back to the offices of the diamond cutters, where they will be prepared for distribution.
At this point in the season, the primary focus of the diamond cutters is being prepared for the demand of the upcoming holiday season, which kicks off towards the end of October; which means that the diamond rough being distributed during the October De Beers Sight Sale, might not actually enter the market until after the beginning of the new year.
