Q:

Why are diamonds so expensive?

A:

Quick Answer

Diamonds are expensive because the supply of diamonds on the world market is restricted by DeBeers. The price of diamonds would be much lower if the supply were not artificially suppressed.

Know More
Why are diamonds so expensive?
Credit: Kim Alaniz CC-BY-2.0

Full Answer

Among gems, diamonds are the most common "precious" stones on Earth. The perceived value of diamonds is the result of a restricted supply and savvy marketing by DeBeers. Prior to the 1870s, diamonds were rare, but the discovery of African diamond mines changed that. DeBeers enlisted Hollywood stars in the 1930s to spur demand among the general public for its newly discovered surfeit and developed the slogan "A Diamond is Forever," which is still in use more than 80 years later.

Learn more about Industries

Related Questions

  • Q:

    What is the role of financial institutions?

    A:

    The primary role of financial institutions is to provide liquidity to the economy and permit a higher level of economic activity than would otherwise be possible. According to the Brookings Institute, banks accomplish this in three main ways: offering credit, managing markets and pooling risk among consumers.

    Full Answer >
    Filed Under:
  • Q:

    What is the National Association of Professional Pet Sitters?

    A:

    The National Association of Professional Pet Sitters, or NAPPS, is a nonprofit trade organization that provides business resources for pet sitters and helps pet owners find high-quality care. Companies, employees and individual pet sitters apply for paid membership, gaining access to publications, conferences and other business enrichment opportunities. NAPPS influences industry standards through certification tests. It also offers pet sitters health and liability insurance through Business Insurers of the Carolinas.

    Full Answer >
    Filed Under:
  • Q:

    What is Nerium Biotechnology?

    A:

    Nerium Biotechnology is an international research and development company that specializes in the development of oleander-based products for the treatment of diseases and viral infections. The main product that Nerium Biotechnology manufactures is Anvirzel, which is used to treat certain forms of cancer.

    Full Answer >
    Filed Under:
  • Q:

    Where can you find a map of the stores at the South Coast Plaza mall?

    A:

    A map of the stores at South Coast Plaza mall is available under the Store Directory section of the mall website. The map labels all the department stores, smaller shops and parking structures at the mall. The search bar allows visitors to easily locate specific stores on the map

    Full Answer >
    Filed Under:

Explore