De Beers Group has officially resumed its Auctions business operations from Gaborone, Botswana, marking a pivotal step in consolidating its global diamond trading activities under one roof. This move follows the successful relocation of the auction headquarters from Singapore to Botswana’s capital.
The relocation underscores De Beers’ commitment to strengthening Botswana’s role in the international diamond value chain and improving operational integration across its trading platforms. By aligning all core trading functions in Gaborone, the company aims to streamline its processes and bolster local economic development.
To test the new setup, De Beers recently held a small-scale pilot auction during Cycle 3, exclusively for its Sightholder clients. The event drew robust participation, with strong interest in the available lots and a broad base of successful bidders. A significant majority of the lots on offer were sold, signaling high customer confidence in the new arrangement.
Building on the success of this initial event, De Beers plans to fully roll out its Auctions platform in Cycle 4, opening participation to all licensed and registered customers.
Paul Rowley, Executive Vice President of Diamond Trading at De Beers, emphasized the importance of the transition:
“The successful relocation of our Auctions business to Botswana is a major achievement for both our internal teams and the Botswana authorities. It’s a strategic step that brings our diamond trading operations closer together, reinforcing Botswana’s central role in our global business. The encouraging response to our first auction signals a promising future as we continue to grow our presence here.”
The development marks a significant milestone for Botswana’s growing influence in the global diamond market and signals a new chapter for De Beers’ auction business.
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