Have You Ever Tried To Sell A Diamond?

Introduction:

In light of our current economic turmoil, it is interesting to read this article by Edward J. Epstein was published in the Atlantic Magazine as a cover story in 1982. The article is subtitled, “A Diamond Is For… Chumps.”

Read the full article here:
Have You Ever Tried To Sell A Diamond?

It traces, from a historical point of view, how diamond marketing manipulated cultural beliefs relating to engagements and marriage. The piece also discusses how De Beers’ strategy to control the diamond cracked during an “investment” craze, which lead to a banking crisis in Israel and a crash in diamond prices in the early eighties.

Not mentioned in the article, but of great importance in terms of history, is Martin Rapaport’s creation of a price list in 1978 which was the beginning of the commoditization of diamonds, a move that ran counter to De Beer’s marketing image.

The article provides excellent fodder for the ethically oriented consumer to shop their values.

~ Marc Choyt, Publisher, Fairjewelry.org

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