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DIAMDEL: Q1 SALES DRIVEN BY SMALL, MEDIUM-SIZED MANUFACTURERS
22 April 2010

De Beers' Diamdel, which supplies rough to non-sightholders, witnessed "strong demand" during the first quarter of 2010, with sales being driven by small- and medium-scale specialist manufacturers and a "notable" increase in bids coming from the Israeli market.

Alongside traditional placed sales made during the first sales cycle of 2010, Diamdel sold a full range of De Beers' rough diamonds via its online auction channel, the company announced today in a release. Diamdel reported that 138 lots were made available during auctions held from the first quarter of 2010 spanning -3gr, 4-8gr and 2-15ct size ranges and that 100 percent of these lots were sold at their first presentation.

Neil Ventura, Managing Director of Diamdel, commented, ‘'from a market's perspective, we witnessed broad-based participation from all customer groups and across all markets during this first series of auctions in 2010, with a notable strengthening in the competitiveness of bids placed by customers in Israel compared to 2009, especially in 4-8gr and 2-15ct size ranges."

Ventura also said that competition was most intense for rough in the +2ct ranges. "Given that the majority of companies that won lots at the January, February and March events were small to medium sized manufacturers, the data does not lead us to believe that speculative buying drove our results to a significant extent," he concluded.

Jonathan Whitney, Head of Sales for Diamdel added, ‘'just under 75% of all winning bids during these first auctions of 2010 were placed by small to medium sized specialist manufacturers in Israel, Antwerp, India and the Far East. Demand for rough across the board, but especially in +2ct material, intensified during March. We anticipate strong demand to continue throughout April as customer feedback indicates that sourcing the right rough in the right quantities remains challenging."

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