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What effect did the de beers diamond monopoly have on the price of diamonds?
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Is de beers a natural monopoly in the worlds diamond trade?
DeBeers controls about 35% of the diamond gemstone industry, according to Time Magazine, November 2010.
Why is diamond expensive?
You can read several opinions, below. Directly, you can purchase industrial diamonds by the bag full for the price of a latte. Expensive -- gemstone-quality -- diamonds are the most rare in colour, clearest, heaviest and with perfect cuts. You can pay less for a large diamond that is not a top-quality diamond. Only about 20% of all diamonds mined are gem-stone quality and of those only a rare free are truly valuable. ____________________ The real answer is that De Beers created a monopoly over diamond mines in the 19th century. That allowed them to artifically shoot diamond prices up through the roof. Their marketing strategy suggesting that diamonds should cost 2-3 months of an average salary is something they simply made up. Diamonds are not as rare as their prices suggest. They should be half as expensive as they now are. ---------------------- The above is true but depending on the quality of diamonds you are after. Gem or high quality diamonds are in low supply while the lower quality is in huge supply. De beers are in business and aren't always fair to the smaller players in the industry but they certainly don't control nature and you can't force 3 to 10 carat flawless or VSI (very slightly included) diamonds out of the ground. I envision a time when diamond prices will be so high that we'll have to opt for lower quality stones.
What top countries produce diamonds?
Your answer depends on how you define \'produce\'.Diamonds are mined in countries all over the world, except Europe and on the continent of Antarctica.Diamonds are brokered in Europe and in some countries where diamonds are mined.Diamonds are cut and polished in diamond centers in many locations.Diamonds are sold -- both industrial diamonds and gem-quality diamonds -- on every continent except Antarctica.
How do you shift demand from real diamonds to CZ diamonds?
Good question, but you're up against the advertising might of de Beers et al. CZ is of course softer, and this is one of the important advantages of diamond in that it may be worn daily without any fear of scratching or other wear.
Who controls more than 80 percent of the world's rough diamond supply?
De Beers
What is De Beers famous for?
DeBeers are the diamond people in South Africa, they mine and they also broker, in one word they have the monopoly on the diamond industry, they are world famous, when you say "DeBeers" you know you mean diamonds.
What are the De Beers?
De Beers is a collection of companies that in the past, has dominated the diamond, diamond mining, diamond shops, diamond trading and industrial diamond manufacturing sectors. Since about June 2013, DeBeers no longer controls market demand the supply of any kind of diamonds.
Is de beers a natural monopoly in the worlds diamond trade?
DeBeers controls about 35% of the diamond gemstone industry, according to Time Magazine, November 2010.
When did De Beers miner discover the diamond?
According to Wikipedia: "Cecil Rhodes, the founder of De Beers, got his start by renting water pumps to miners during the diamond rush that started in 1871, when an 83.5 carat diamond was found on Colesburg Kopje (present day Kimberley), South Africa. He invested the profits of this operation into buying up claims of small mining operators, with his operations soon expanding into a separate mining company." Diamonds were first 'discovered', however, about 6,000 years ago, and not by De Beers. The De Beers organization simply capitalized on mining diamonds in South Africa. It is believed that diamonds were first 'discovered' in India.
What type of barrier to entry was used by De Beers throughout much of its history to maintain its monopoly position?
De Beers has used many methods to remain at the top. These include, flooding the market, stockpiling diamonds and convincing producers to join its monopoly. For more detailed information, visit http://en.wikipedia.org/wiki/De_Beers#Diamond_monopoly.
Who are the top companies producing diamonds?
De Beers, Alrosa, Rio Tinto, Anglo American, BHP Billiton, Newmont Mining, Norilsk Nickel, Harry Winston Diamond Corp, Petra Diamonds.
What percentage of the world's diamond production is controlled by De Beers?
From the www.wikipedia.com :) URL is http://en.wikipedia.org/wiki/DeBeers_Diamond_Corporation Excerpt follows: The various companies within De Beers Diamond Corporation are responsible for around 40% of world diamond production by value.... The sales & marketing arm of De Beers is a company called the Diamond Trading Company (DTC). This company sells almost half of the world's rough diamonds by value...
Why is diamond expensive?
You can read several opinions, below. Directly, you can purchase industrial diamonds by the bag full for the price of a latte. Expensive -- gemstone-quality -- diamonds are the most rare in colour, clearest, heaviest and with perfect cuts. You can pay less for a large diamond that is not a top-quality diamond. Only about 20% of all diamonds mined are gem-stone quality and of those only a rare free are truly valuable. ____________________ The real answer is that De Beers created a monopoly over diamond mines in the 19th century. That allowed them to artifically shoot diamond prices up through the roof. Their marketing strategy suggesting that diamonds should cost 2-3 months of an average salary is something they simply made up. Diamonds are not as rare as their prices suggest. They should be half as expensive as they now are. ---------------------- The above is true but depending on the quality of diamonds you are after. Gem or high quality diamonds are in low supply while the lower quality is in huge supply. De beers are in business and aren't always fair to the smaller players in the industry but they certainly don't control nature and you can't force 3 to 10 carat flawless or VSI (very slightly included) diamonds out of the ground. I envision a time when diamond prices will be so high that we'll have to opt for lower quality stones.
What important resource did European businessman cecil Rhodes exploit from south Africa?
Diamonds. He made his fortune at the diamond fields of Kimberley and founded the mighty De Beers Company which would become the world leader in the diamond trade.
Who regulates the diamond market and the diamond companies?
DE BEERS WHO regulates the diamond market
What top countries produce diamonds?
Your answer depends on how you define \'produce\'.Diamonds are mined in countries all over the world, except Europe and on the continent of Antarctica.Diamonds are brokered in Europe and in some countries where diamonds are mined.Diamonds are cut and polished in diamond centers in many locations.Diamonds are sold -- both industrial diamonds and gem-quality diamonds -- on every continent except Antarctica.
What is true regarding de beers diamond mines?
You can follow the link, below, and decide for yourself what is true regarding De Beers diamond mines.
