Category: Economics

Diamonds Are Abundant And Artificially Kept Scarce By One Company Who Maintains A Monopoly On The Industry.

Can we finally get passed this idea that diamonds are anything more than a simple polished rock. We’re near given a complex when buying fancy jewelry or engagement rings. The prices are exorbitant and the marketing has been done so well that nearly everyone from the opposite sex requires diamonds to be “happy” with there proposals and subsequent nuptials. But Diamonds are not only abundant in nature they can now be grown in labs. Yet they cost nearly five hundred times that of the value of gold. Which is actually scarce and can’t be easily manufactured or reproduced like that of diamonds.

Companies have since began manufacturing these artificial diamonds that are indistinguishable from the real thing but at slightly lessor cost. And we are still required to show our love through these over priced rocks. Now the company that maintains the monopoly on the diamond market is crashing the price of the artificial diamonds (again I should mention are indistinguishable from the real thing without high tech equipment, yet still far over priced for a man-made rock) in the hopes of creating a sense that these new diamonds are such a lower value. But they didn’t price it so low that it could be construed as play jewelry. But listen to those words, “they didn’t price it.” Meaning the price is purely controlled by one company, with hardly any competition.

They literally can set the price at anything they want. As a matter of fact, they probably made the lab made diamonds so low that it will keep every competitor out of the market, as well as attach a sense of high devaluation to the artificial diamonds. So in turn their is now that much more perceived value in the real, highly abundant, diamonds. It’s more genius marketing and the vicious cycle will continue on. Until we the people who are being marketed to wise up to the scam and put our hard earned money elsewhere.



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