Just The Gist of... De Beers and the Diamond Marketing Scam

Why is a diamond supposed to cost you two months' salary? Why is it THE rock we’re supposed to propose with? Turns out none of it is real. Diamonds aren't rare and they're almost definitely not worth what you paid. All of that was made up by an advertising agency paid by De Beers - the world’s biggest diamond company. Because De Beers knew if people found out that diamonds weren’t actually rare or special, they’d stop buying them.

This is Just The Gist of what was arguably one of the best marketing campaigns in history (and the reason that diamond ring on your finger isn’t nearly as valuable as you think): De Beers and the Diamond Marketing Scam.

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Have You Ever Tried to Sell a Diamond? (The Atlantic, 1982)

Diamonds Aren't Rare. Why Are They So in Demand? (The Atlantic, 2023)

Diamonds Aren't Forever: The Story of De Beers (Sahil Bloom, 2022)

The Diamond Empire: How De Beers Created a Market Out of Nothing (Business Leader, 2024)

Diamond Crash Delivers a Third Strike for De Beers (Forbes, 2026)

How De Beers Changed the Diamond Market With One Simple Tagline (Sotheby’s)

Diamonds from Coal? (Geology.com)

Diamonds Unearthed (Smithsonian Magazine)

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