Because DeBeers has a monopoly on the market and uses that position to manipulate supply and demand -- without DeBeers's games, diamonds would be literally as cheap as dirt today. Not to mention having one of the most successful ad campaigns in the history of the world -- "A diamond is forever" "A diamond is a girl's best friend" "6 months salary" all of those are pure marketing from DeBeers and thus pure manipulation of anyone who takes them seriously. In fact, until DeBeers got into the game, diamonds were no more associated with marriage than any other kind of stone.Quote:
Originally posted by Dallas4u
Well, diamonds aren't more scarce than sapphires or rubies, so why are they more expensive?
Furthermore, almost all diamonds have a history of suffering. The "legit" diamonds from DeBeers were mined by miners with very little in the way of human rights protections and working conditions that are worse than most 3rd world sweat-shops. Then there are the infamous "blood diamonds" which in one way or another are linked to the constant warring and bloodshed in Africa.
There are a few sources of diamonds from mines in Canada that are neither controlled by DeBeers nor mined by people one step up from slavery. But, considering all the bad associated with diamonds and their terrible resale value (destined to hit about $0 if Debeers ever loses control of their monopoly position), why would you even want to associate yourself with such a thing?
