Every girl dreams of a shiny sparkler on her finger. More importantly, she’s spent years of her life dreaming up how he will propose and what the engagement ring will look like.
For him he’s told to spend at least ‘three months’ salary’ to make sure he’s proven his undying love.
Diamonds are forever. Diamonds are a girl’s best friend. Diamonds are priceless. Diamonds are a great investment.
While the first few statements can be forgivable, the last two are downright fabrication. So why do we continue to covet these stone?
Great Marketing and PR.
Back when De Beers was trying to find a way to boost sales, they enlisted the help of some great minds.
“The diamond invention—the creation of the idea that diamonds are rare and valuable, and are essential signs of esteem—is a relatively recent development in the history of the diamond trade.” Atlantic.com
The fact of the matter is that if you ever tried to sell a diamond you would be left coming up short.
To backtrack in terms of history, British financiers who organised South African mines in the the late 1800’s realized that their investment was endangered due to the fact that diamonds had little intrinsic value and that their price was directly correlated to their scarcity. New mines would uncover that this gem was not rare at all so “major investors in the diamond mines realized that they had no alternative but to merge their interests into a single entity that would be powerful enough to control production and perpetuate the illusion of scarcity of diamonds. The instrument they created, in 1888, was called De Beers Consolidated Mines, Ltd., incorporated in South Africa.” Atlantic.com
From there the rest is history. A powerful company, a catchy slogan, and together they forever changed the way we value diamonds. Gemnation.com Advertising Age – a prestigious US magazine – declared in its January 1999 edition that a ‘Diamond is Forever’; becoming the most recognised and effective slogan of the twentieth century. If you stop to think about it, the lies are so embedded they have even spawned movies that conjure up images of Marilyn Monroe singing and dancing to the gems, and tower heists motivated by these rocks.
Today women come to expect diamonds.
And that’s the stuff of good Marketing and Public Relations.