De Beers 2015 Auction Sales programme for Forward Contract Sales

In a press release on January 21, 2015, the De Beers Group of Companies announced the 2015 Forward Contract Sales (FCS) programme for its auction sales business. The new programme for the year 2015 has been revised taking into consideration the customer feedback received during the implementation of the FCS programme first launched in 2014.

Neil Ventura, De Beers Executive  Vice President for Auction Sales
Neil Ventura, De Beers Executive Vice President for Auction Sales

A single FCS event has been slated for March 2015, taking into consideration customer demand for greater availability of Forward Contracts in the first half of the year and for increased range and quantity of products. At this event, registered customers will be provided the opportunity to bid for future supplies of a wider range of products, from the +2 Cts, grainers, and small categories, available in multiple-unit volumes and over one, two, three and four-cycle contract durations.
Forward Contract Sales was first launched in the year 2014, to accommodate customer feedback indicating customers seeking either short-term security of supply that spot sales cannot provide, or to complement their existing long-term supply contracts. FCS allow buyers to bid on all future contracts offered, or any combination, and to bid for the volumes of products they require in each contract, allowing buyers the flexibility to arrange supply contracts that suit them.
Commenting on the FCS programme for 2015, Neil Ventura, De Beers’ Executive Vice President for Auction Sales said: “FCS got off to a successful start in 2014 with over 300 contracts sold and customers demonstrating a willingness to pay a premium for short-term security of supply. This year, in response to customer feedback, a wider range of products will be made available including some of our +2ct products for the first time. Furthermore, the one-off set of FCS auctions will provide our customers with a highly convenient way to secure the products they require for delivery in any one of the four cycles between March and July, or any combination of these delivery periods that suit their needs.”
De Beers further stated that customers with a track record of demonstrated demand in the products being offered for sale will be notified and provided the full details in due course. Any customers new to Auction Sales or yet to participate in FCS can find out more via their account managers.

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