The "Diamond" and the Cartel that invented it, and still drives it, is by commercial reckoning now 120 years old. The DeBeers organization (founded 1888) has far exceeded the average life of any other cartel. Diamonds have been integral to the American consuming public for nearly 100 years (who hasn't heard "A diamond is Forever"?) and yet, remains one of the most intriguing, and narrowly understood phenomenon in the annals of modern business.
There is no shortage of information on the subject, and modern diamond industry is more public and vital than ever. DeBeers has had its portion of public exposure: scathing media reports of "the South African monopoly", rumors of involvement in sectarian violence in several African countries, strong accusations over "blood" or "conflict" diamonds, ad-nauseum. Yet, the questions I am most frequently asked are "What is the real value of diamonds?; if they aren't rare, why are they so expensive?; what is the truth about the cartel?, why do they cost so much, but are worth nothing when I want to sell them?".
Meanwhile, the distribution and retail segments of the diamond business are so engaged in a contest (or maybe more like a rabid dog fight) to be more recognizable than the other, the average consumer is now awash in a virtual ocean of sales hype, name branding, technology and confusion. Yikes!
My goal is to present the diamond industry from a different perspective (my perspective); the perspective of a professional appraiser, market observer; not a professional seller. I plan to cover all pertinent topics from the beginning, to present day; in a series of installments, and do it in some loose dispensational order. QE
