My hatred of DeBeers simply comes from the marketing scam that they have created. They personally cap the amount of diamonds that are mined each year keeping the price way too high - they are not nearly as precious as those wonderful ad's have us believe. Want a "REAL" rock? Buy a ruby or sapphire.
The keep over 99% of what is mined each year off the market, and store these stones in reserve. In other words, they control supply in such a way that less than 1% of what is mined each year is allowed to be sold, either at the wholesale or retail level. That's why they can't operate as a corporate entity on U.S. soil. They would be indicted by the DOJ for violations of anti-trust law, and a myriad of other laws. Gem quality diamonds are not that rare, and if the free market reigned, their prices would fall by many, many multiples.
Thanks for that disgusting info...I need to go throw up now. I wish someone would put them out of business....maybe if women didn't always need a rock so you knew you meant business.....
The brilliance of shrewd and manipulative marketing, eh? Those magazine and TV ads are genius. The TV ad where she and he are in a square in Italy and he pops the ring, and she screams "I love him! I love him! I love him! I love him!" is a real gem (no pun intended). There is the DeBeers notation at the bottom of the screen. They've brainwashed women to equate big $$ diamonds with one of the few expressions of love, when the act of purchasing a diamond is no such thing. But they are marketing geniuses. Gotta give them credit where it's due; the criminals. Brilliant marketing + monopolization of a common gemstone = buku profits
Yep, you got it! BUT, as always if people (in this case women) were not so greedy the marketing would not work and DeBeers would not be in business. But let's face it, rare women would boycott diamonds for this purpose. And guess who has to finance these shennanigans? We do. If the ring's not big enough we either don't love her enough or we don't have the money. Admitting to either is never pretty. Whatever happened to Cracker Jack rings?
In fact, a DeBeers industrial diamonds sub was indicted in the US for exactly that in 1994. The case did not go to trial, but was settled out of court with the DOJ for a whopping (not) $10M in 2004, 10 (!) years later. And you thought the NFA, CFTC and SEC were known for slo-mo slaps on the wrist... Yeah, their global brainwashing, um, marketing campaign, is as good as it gets.
The entire diamond industry is probably the biggest scam out there. Not much legit than MLM, IMO. I might just be bitter having thrown away on rock for my wife 3 years ago.
there is a public traded company in this area. or other synthetic stones. anybody know the name of the co.?