What we think about diamonds, is in fact, a myth. That diamond is forever is just a clever marketing ploy to deceive unsuspecting consumers. Other illusions they created for the public consumers to believe is that a diamonds as a symbol of love and commitment. Other successful campaigns include the "eternity ring" (as a symbol of continuing affection and appreciation), the "trilogy" ring (representing the past, present and future of a relationship) and the "right hand ring" (bought and worn by women as a symbol of independence).
At the center of that myth is an illusion, that diamonds are valuable because they are rare. When writer Edward Epstein set out to investigate the diamond trade, he discovered that diamonds aren’t rare at all. Second only to Christmas, Valentine’s Day is the holiday when diamonds are most often given as the ultimate token of love. Central to the diamond’s role as a romantic symbol is the belief that diamonds are one of the rarest, most precious gifts for a loved one. But it’s only a myth–diamonds are found in plentiful supply.
A single company—De Beers—controls a significant proportion of the trade in diamonds. They are based in Johannesburg , South Africa and London , England
The production and distribution of diamonds is largely consolidated in the hands of a few key players, and concentrated in traditional diamond trading centers, the most important being Antwerp, where 80% of all rough diamonds, 50% of all cut diamonds and more than 50% of all rough, cut and industrial diamonds combined are handled. This makes Antwerp New York City
The Diamond Trading Company (DTC) is a subsidiary of De Beers and markets rough diamonds from De Beers-operated mines. De Beers and its subsidiaries own mines that produce some 40% of annual world diamond production. For most of the 20th century over 80% of the world's rough diamonds passed through De Beers,
FRONTLINE examines how the great myth about the scarcity of diamonds and their inflated value was created and maintained over the decades by the diamond cartel. This report chronicles how one family, the Oppenheimers of South Africa, gained control of the supply, marketing, and pricing of the world’s diamonds. (Excerpt from pbs.org)
Watch the full documentary now
In mineralogy, diamond (from the ancient Greek ἀδάμας – adámas "unbreakable") is an allotrope of carbon, where the carbon atoms are arranged in a variation of the face-centered cubic crystal structure called a diamond lattice. Diamond is less stable than graphite, but the conversion rate from diamond to graphite is negligible at ambient conditions. Diamond is renowned as a material with superlative physical qualities, most of which originate from the strong covalent bonding between its atoms. In particular, diamond has the highest hardness and thermal conductivity of any bulk material. Those properties determine the major industrial application of diamond in cutting and polishing tools.
In some of the more politically unstable central African and west African countries, revolutionary groups have taken control of diamond mines, using proceeds from diamond sales to finance their operations. Diamonds sold through this process are known as conflict diamonds or blood diamonds. Major diamond trading corporations continue to fund and fuel these conflicts by doing business with armed groups. In response to public concerns that their diamond purchases were contributing to war and human rights abuses in central and western Africa , the United Nations, the diamond industry and diamond-trading nations introduced the Kimberley Process in 2002. The Kimberley Process aims to ensure that conflict diamonds do not become intermixed with the diamonds not controlled by such rebel groups. This is done by requiring diamond-producing countries to provide proof that the money they make from selling the diamonds is not used to fund criminal or revolutionary activities. Although the Kimberley Process has been moderately successful in limiting the number of conflict diamonds entering the market, some still find their way in. Conflict diamonds constitute 2–3% of all diamonds traded. Two major flaws still hinder the effectiveness of the Kimberley Process: (1) the relative ease of smuggling diamonds across African borders, and (2) the violent nature of diamond mining in nations that are not in a technical state of war and whose diamonds are therefore considered "clean".
The Canadian Government has set up a body known as Canadian Diamond Code of Conduct to help authenticate Canadian diamonds. This is a stringent tracking system of diamonds and helps protect the "conflict free" label of Canadian diamonds.
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Great information on diamonds, especially conflict diamonds. I would hate to have a diamond gotten unfairly at such a price. Thanks.