Are diamonds still a girl’s best friend?
The problem with the diamond market is that it’s not quite like that for any other highly priced item.
Whereas with the likes of gold, there’s quite an open market for it around the world, in the case of diamonds it’s still largely controlled by De Beers. Essentially they can yank the chain of any diamond buyer through their control of “sights” of loose diamonds which is the means through which the diamonds eventually end up in jewellry (after passing through the hands of many middle-men).
That vice-like grip on the market means that although it’s not a proper open market, it tends to be one that survives all the twists and turns that you would see on other markets for similar precious raw materials. Thus, in theory, no dramatic drops in price which is useful if you think of diamonds holding value.
Copyright © 2008 by Arnold Stewart. All rights reserved.Popularity: 1% [?]
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