Quote:
Originally Posted by ThaVirus
Apparently the "value" of diamonds is completely fabricated by DeBeers. They're not even rare stones.
If true, that's a hell of a marketing campaign.
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That's 100% true. I had a friend (not named Jared) that was in the business and he said DeBeers is sitting on millions of stones. I don't remember the exact percentage of the diamond market they controled, but it was in the 80-90% range. Since then, the mines in Canada and Australia have broken away and the prices have gone down.