2023 was a rough year for the global diamond market, characterised by weaker demand for diamonds and lower prices associated with high level of inventories in other parts of the diamond value chain (dealers and manufacturer). Similarly, the slow pace of economic recovery in China and weak retail demand for natural diamonds in the USA – due in part to competition from synthetic diamond – have added to these troubles, leading to sharply lower sales. De Beers Global Sightholder Sales (DBGSS) were down by 37.5% in 2023, recording sales valued at USD3.62 billion in 2023, down from USD5.79 billion in 2022. Comparing between quarters, DBGSS sales were down by 46.7% between Q3 and Q4 2023 and registered the lowest sales in the last two sale cycles, at USD86 and USD130 million, respectively.