Diamonds Are Not Forever

I have just read a few articles in relation with the scarcity of diamonds. In seems that diamonds are not as scarce as we thought it to be. The supply of diamonds throughout the world is controlled tightly to ensure diamonds appeared to be scarce.

Thanks to this artificial scarcity, diamond suppliers are ensured of fetching high price by selling diamonds. Therefore, the little sparking object of adoration you wish to have (I generally mean the females ;p) is not as precious as you thought it to be.

Yes. We have been fooled over the worthiness of diamond. In actual fact, this object of desire is actually worth much less than its market value. Thanks to cartel, the suppliers can dictate the price of diamonds by limiting the amount of diamonds in the market.


Diamonds are forever. I think most of us would be very familiar with this catchy phrase. A diamond ring would suppose to last forever. Diamonds are not to be sold again as it would bring bad omen. To popular belief, that is. One should keep the diamond to oneself throughout one's lifetime. No matter what.

This phrase did not exist through history as we thought it to be. It was invented somewhere in the 1940s. In actual fact, it serves to prevent other people from reselling their engagement rings. This would enable the continuous sales of diamonds in the market without the presence of a secondary (second-hand in other words) market.

Prior to that, giving engagement rings at wedding ceremonies were not very common. It's because of nice marketing strategy that changed the preception. Now it would not be uncommon to see diamond rings being presented as an engagement gift.

Talk about the importance of advertisement. Imagine that!