Are Diamonds Price it? How De Beers Satisfied Us That Diamond Engagement Rings Are A Good Funding. I inform the reality in regards to the delusion that diamonds are uncommon and a great funding. Many individuals consider that diamonds are a great funding and you should spend two months’ wage for a diamond engagement wring whenever you suggest. I present the historical past of the place the diamond commerce began in Kimberley South Africa with Cecil Rhodes and the way he began the De Beers diamond firm.
From there I clarify how Harry Oppenheimer used promoting to persuade folks within the US and Japan {that a} marriage proposal required a diamond engagement ring. With the De Beers marketing campaign, “A Diamond Is Endlessly” they’ve efficiently satisfied thousands and thousands of individuals to spend two months or extra of their wage for a diamond engagement ring.
De Beers was a monopoly or cartel as they known as it with about 90% of the diamond market. They had been capable of preserve diamond costs excessive, by shopping for up the availability of any new diamond mines found together with the Russian diamonds found in Siberia in 1957. See how they managed this enormous provide of diamonds by convincing People to purchase smaller diamonds and created new, multi diamonds merchandise.
De Beers additionally had the issue of blood diamonds to take care of in addition to protecting used diamonds off the market.
De Beers ultimately misplaced their monopoly and now solely management about 40% of the diamond market. With different diamond mines competing with them in addition to lab grown diamonds, there may be a variety of pricing strain on the diamond market.
Are diamonds a great funding or are diamonds nugatory? I examine diamonds to valuable metals like gold and examine the resale worth. I present how a lot you’ll be able to lose by shopping for a retail diamond whenever you attempt to promote it.
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