De Beers Group recorded $467 million worth of sales for rough diamonds on their eighth cycle between September 21 and October 9.
The value was way high compared to the same time last year when it was $297 million. It was also an improvement from the seventh cycle, where they had made sales worth $334 million.
This makes it the highest company value since January this year.
De Beers now hopes that it is the beginning of a sustainable recovery rather than an isolated spike ahead of the festive season.
In 2019, there was low demand for a more extended period until the yea was approaching the end.
No doubt, 2020 has been a different year; with the pandemic hitting all sectors of the economy, the sales have been affected but seems to pick up slowly.
The company anticipates a busy holiday season, with the most money spent on travel and outdoor activities likely to be spent on diamonds.