Diamonds are for Suckers:

Feuer Frei! · 07-19-11, 12:03 AM

How De Beers transformed diamonds into a symbol of love.

“I’m continually amazed at the high price of diamonds, essentially rocks. So I looked into it…. Basically, ever since the late 1930s, people have been beautifully ********d by De Beers into thinking marriage = diamond.”
— David Ray Carson, a graphic designer from Minnesota.
(Priceless

)

In 1938 the De Beers mining cartel signed an exclusive agreement with N.W. Ayer, an American advertising firm — and one of the most brilliant advertising and public relations campaigns was born. De Beers, N.W. Ayer, and J. Walter Thompson (an advertising and public relations firm that joined the team in the 1960s) transformed diamonds from marketable gems into symbols of love, glamour, and success — while forever linking them to courtship and married life.
The truth about diamonds

Contrary to popular opinion, diamonds can shatter, crack, discolor, and lose value. And they are not rare. In fact, diamonds have been plentiful since 1870, when huge deposits were discovered near the Orange River, in South Africa. Diamonds are now mined in several African countries, as well as in Russia, Australia, and Canada. At first, De Beers controlled 90 percent of the diamond market and, by controlling supply, was able to maintain the illusion of scarcity — and keep prices high. Now De Beers controls about 66 percent of the market. The newer players have not challenged De Beers’s artificially inflated prices, however, as they benefit from them too.

The diamond market is changing rapidly, but De Beers still dominates. In 2001, its ADiamondIsForever.com website got 200,000 visitors a month. Visitors spent about 20 minutes browsing the site, and most were from the target market: women, 18 to 34 years old. And although the U.S. Department of Justice has challenged De Beers’s business practices — there is an outstanding indictment against the company from a 1994 price-fixing case — it is difficult to challenge its approach to communications.

SOURCE

Interesting read, check link for the rest of article.
Of course we all knew that jewellery in general is a ripoff, right? Right?
300-500% markups. I'll take 3 thanks.

joea · 07-19-11, 02:25 AM

Yea sure, that's all probably true.

Now try to tell the woman in your life that diamonds are overpriced rocks that she would be foolish to want.

Don't forget to post in this thread first:
http://www.subsim.com/radioroom/showthread.php?t=185710

Betonov · 07-19-11, 02:28 AM

Ducimus · 07-19-11, 09:03 AM

I thought everyone knew about De Beers. It's a shame the truth won't get you out of having to buy those damn diamond rings for your gal.

NeonSamurai · 07-19-11, 09:04 AM

I've known that about diamonds for 2 decades now. However I should point out that good diamonds usable for jewelry are more rare (though no where near as rare as is commonly thought). Most diamonds that are dug up are only suitable for industrial work.

Personally I prefer rubies or emeralds, which actually are rare.

Osmium Steele · 07-19-11, 09:12 AM

"Diamonds, that'll shut her up."

- Ron White

Platapus · 07-19-11, 05:57 PM

Advertising suggestion:

Buy her a diamond

For she would be upset if you just gave her the cash

And called her a whore.

kiwi_2005 · 07-19-11, 07:58 PM

Quote:

Originally Posted by joea

Yea sure, that's all probably true.

Now try to tell the woman in your life that diamonds are overpriced rocks that she would be foolish to want.

Don't forget to post in this thread first:
http://www.subsim.com/radioroom/showthread.php?t=185710

07-19-11, 12:03 AM	#1
Feuer Frei! Navy Seal Join Date: Sep 2009 Location: Valhalla Posts: 5,295 Downloads: 141 Uploads: 17	Diamonds are for Suckers: How De Beers transformed diamonds into a symbol of love. “I’m continually amazed at the high price of diamonds, essentially rocks. So I looked into it…. Basically, ever since the late 1930s, people have been beautifully ******d by De Beers into thinking marriage = diamond.” — David Ray Carson, a graphic designer from Minnesota. (Priceless ) In 1938 the De Beers mining cartel signed an exclusive agreement with N.W. Ayer, an American advertising firm — and one of the most brilliant advertising and public relations campaigns was born. De Beers, N.W. Ayer, and J. Walter Thompson (an advertising and public relations firm that joined the team in the 1960s) transformed diamonds from marketable gems into symbols of love, glamour, and success — while forever linking them to courtship and married life. The truth about diamonds** Contrary to popular opinion, diamonds can shatter, crack, discolor, and lose value. And they are not rare. In fact, diamonds have been plentiful since 1870, when huge deposits were discovered near the Orange River, in South Africa. Diamonds are now mined in several African countries, as well as in Russia, Australia, and Canada. At first, De Beers controlled 90 percent of the diamond market and, by controlling supply, was able to maintain the illusion of scarcity — and keep prices high. Now De Beers controls about 66 percent of the market. The newer players have not challenged De Beers’s artificially inflated prices, however, as they benefit from them too. The diamond market is changing rapidly, but De Beers still dominates. In 2001, its ADiamondIsForever.com website got 200,000 visitors a month. Visitors spent about 20 minutes browsing the site, and most were from the target market: women, 18 to 34 years old. And although the U.S. Department of Justice has challenged De Beers’s business practices — there is an outstanding indictment against the company from a 1994 price-fixing case — it is difficult to challenge its approach to communications. SOURCE Interesting read, check link for the rest of article. Of course we all knew that jewellery in general is a ripoff, right? Right? 300-500% markups. I'll take 3 thanks. __________________ "History is the lies that the victors agree on"- Napoleon LINK TO MY SH 3 MODS

07-19-11, 09:04 AM	#5
NeonSamurai Ocean Warrior Join Date: Jan 2002 Location: Socialist Republic of Kanadia Posts: 3,044 Downloads: 25 Uploads: 0	I've known that about diamonds for 2 decades now. However I should point out that good diamonds usable for jewelry are more rare (though no where near as rare as is commonly thought). Most diamonds that are dug up are only suitable for industrial work. Personally I prefer rubies or emeralds, which actually are rare. __________________ SH3 Newbie Guide Links and other helpfull stuff

07-19-11, 09:12 AM	#6
Osmium Steele Ace of the Deep Join Date: Apr 2011 Location: Upper midwest USA Posts: 1,101 Downloads: 22 Uploads: 0	"Diamonds, that'll shut her up." - Ron White __________________ In the month of July of the year 1348, between the feasts of St. Benedict and of St. Swithin, a strange thing came upon England... My U297 build thread

07-19-11, 05:57 PM	#7
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,362 Downloads: 63 Uploads: 0	Advertising suggestion: Buy her a diamond For she would be upset if you just gave her the cash And called her a whore. __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.

07-19-11, 02:25 AM	#2
joea Silent Hunter Join Date: Jul 2002 Location: At periscope depth in Lake Geneva Posts: 3,512 Downloads: 25 Uploads: 0	Yea sure, that's all probably true. Now try to tell the woman in your life that diamonds are overpriced rocks that she would be foolish to want. Don't forget to post in this thread first: http://www.subsim.com/radioroom/showthread.php?t=185710

07-19-11, 02:28 AM	#3
Betonov Navy Seal Join Date: May 2009 Location: Slovenia Posts: 8,647 Downloads: 26 Uploads: 0

07-19-11, 09:03 AM	#4
Ducimus Rear Admiral Join Date: May 2005 Posts: 12,987 Downloads: 67 Uploads: 2	I thought everyone knew about De Beers. It's a shame the truth won't get you out of having to buy those damn diamond rings for your gal.