DiamondBuzz
De Beers intends To Reduce Rough Diamond Prices At July Sight
De Beers Will Lower Official Book Prices To Match Current Market Levels
De Beers intends to reduce official rough diamond prices or increase discounts at the July sight to better align with current market levels.
For months, De Beers has held its “book prices” strictly above actual market value to prevent flooding the supply chain with cheap gems during periods of weak demand. However, insiders report the company is ready to pivot and align its pricing with current market realities.
The miner’s book prices have been 20%-30% above market for smaller stones and 5%-15% higher for larger sizes, prompting the pricing adjustment.
Paul Rowley, De Beers’ Executive Vice President of Diamond Trading, recently met with major industry clients in Mumbai and Dubai to signal the change. Simultaneously, his team briefed traders in Antwerp, Belgium. According to industry insiders, De Beers is weighing three potential strategic moves for next week’s Sight in Gaborone, Botswana:
Direct Price Cuts: Lowering official book prices across the board to match current market levels (considered the most likely route).
Bespoke Discounts: Offering tailored, client-by-client discount packages.
The Hybrid Approach: A mix of both price reductions and targeted discounts.
While the market eagerly anticipates these cuts, De Beers’ leadership still needs the green light from its parent company, Anglo American, before finalizing the new pricing structure.
DiamondBuzz
VBJ Partners With Ignition 2026 To Celebrate Ideas, Culture and Craftsmanship
VBJ, Vummidi Bangaru Jewellers, one of South India’s most trusted heritage jewellery brands, partnered with IGNITION, the acclaimed thought leadership platform presented by the Shiv Nadar Foundation and curated by award-winning journalist Shoma Chaudhury. Held at ITC Grand Chola, Chennai, the event brought together distinguished voices from diplomacy, cinema and international affairs, while VBJ showcased its latest PARRO – Signature Collection, celebrating exceptional craftsmanship inspired by nature.
The evening featured compelling conversations with Dr. Abdul Majid Hakeem Ilahi, representative of Iran’s Supreme Leader, who shared perspectives on the evolving geopolitical landscape in West Asia; acclaimed actor Ali Fazal, who reflected on his artistic journey from Indian cinema to Hollywood; and former Foreign Secretary Vijay Gokhale, who discussed the changing global order and insights from his latest book, China’s Wars.


Adding an artistic dimension to the evening, VBJ unveiled a curated display of its PARRO – THE SIGNATURE PARROT COLLECTION, an exclusive line inspired by the grace, vibrancy and symbolism of the parrot. Combining intricate craftsmanship with contemporary design sensibilities, the collection reflects VBJ’s enduring commitment to transforming nature into timeless wearable art.
Speaking on the occasion, Amarendran Vummidi, Managing Partner, VBJ, said:

“IGNITION has established itself as a platform where influential voices come together to spark conversations that shape perspectives. At VBJ, we believe that meaningful ideas and enduring craftsmanship both have the power to inspire generations. Our continued association with IGNITION reflects our commitment to supporting platforms that celebrate excellence, dialogue and creativity.”
Jithendra Vummidi, Managing Partner, VBJ, added:
“The PARRO collection embodies our pursuit of artistry that is rooted in heritage yet resonates with contemporary lifestyles. Presenting it at IGNITION, a forum that celebrates ideas, innovation and culture, is a fitting way to showcase how timeless craftsmanship continues to evolve while staying true to its origins.”

As a fifth-generation family-run brand, VBJ takes immense pride in its legacy as the creator of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Rediscovered after 72 years through meticulous research by the VBJ team, the Sengol was reinstated beside the Speaker’s chair in India’s new Parliament building, Sansad Bhavan, by Hon’ble Prime Minister Narendra Modi, marking VBJ’s enduring bond with India’s cultural and national heritage. Continuing this legacy, VBJ is now set to unveil its largest jewellery showroom on Coimbatore’s 100ft Road.
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