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De Beers to hold sight 5 from mid-June

02 june 2020

De Beers is set to conduct sight 5 from June 15 in Botswana, South Africa and Namibia, according to impeccable sources privy to the goings on.
The diamond group was planning to facilitate supplementary viewings of sight goods in Antwerp and Hong Kong.
It was also working to be able to facilitate viewings in Dubai. 
Deadline for submitting applications for sight 5 was 7 June and allocations will be announced on 10 June.
Sources also said should De Beers’ customers or their representatives fail to attend sight 5 in person, they will have the option to select their own extended buy-backs of up to 30% by carat weight of each lot within a box.

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                    Image credit: De Beers Group (instagram)

A De Beers’ spokesperson Peta Gabriel confirmed to Rough & Polished that sight 5 will take place this month.
She said sights are usually held in Namibia and South Africa for beneficiation.
“For sight 5, we will host customers in those locations should they have demand. We are also looking to make goods available for viewing in other centres while international sightholders are unable to physically travel to Botswana,” said Gabriel.
“As with previous recent sights, we will continue to offer customers a range of flexibility options for sight 5.”
The sources had said that sightholders were told that the extended buy-back flexibility in place for sight 4 will remain available for the upcoming sight.
The flexibility was designed to take into account that Covid-19 travel restrictions may prevent sightholders and accredited buyers from physically attending the sight.
Gabriel said that sight 4 in May took place for locally-based Sightholders.
De Beers had previously conducted the first two sightholder sales for the year and was forced to cancel the April sight due to travel restrictions and weaker demand.
De Beers usually sells 90% of its total supply from Gaborone.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished