# De Beers, Monopoly, and Diamond Prices **URL:** \ **Category:** Factual Questions\ **Created:** [September 27, 2023, 1:29pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777 "2023-09-27T13:29:02Z")\ **Posts on this page:** 20\ **Page:** 4
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [September 28, 2023, 1:40pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/61 "2023-09-28T13:40:21Z")
My understanding is that De Beers does not control the diamond market as much as it did in decades past. Googling, they sell about thirty percent of the rough diamond market, with the Russians selling somewhat more, and various other companies selling the rest. ---
**Author:** ![Si\_Amigo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/si_amigo/32/2877_2.png) [@Si\_Amigo](https://boards.straightdope.com/u/Si_Amigo)\ **Post date:** [September 28, 2023, 1:40pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/62 "2023-09-28T13:40:46Z")
> [@purplehorseshoe](#): > > Where would you put it, besides maybe a headdress or tiara? Like most people, I keep mine on my sceptre. And shake it a people when they get on my lawn. Then chase them with my diamond encrusted sword. > **[Sir Robert Vyner (1631-88) - The Sovereigns Sceptre with Cross](https://www.rct.uk/collection/31712/the-sovereigns-sceptre-with-cross)** > > The sceptre comprises a gold rod, formed in three sections, with enamelled collars at the intersections, surmounted by an enamelled heart-shaped structure, which holds a huge drop-shaped diamond, Cullinan I, or the Star of Africa, weighing 530.2... ---
**Author:** ![TXRebel](https://avatars.discourse-cdn.com/v4/letter/t/6de8d8/32.png) [@TXRebel](https://boards.straightdope.com/u/TXRebel)\ **Post date:** [September 28, 2023, 1:47pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/63 "2023-09-28T13:47:43Z")
Well my husbands family owned a diamond grinding wheel company. All their diamonds came from DeBeers. My wedding ring is made from a gift from DeBeers. They absolutely controlled the diamond market. I think a lot of younger people are steering away from diamonds being the standard for engaement/wedding rings. The last three I’ve seen were rubies and sapphires. ---
**Author:** ![kayaker](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kayaker/32/441_2.png) [@kayaker](https://boards.straightdope.com/u/kayaker)\ **Post date:** [September 28, 2023, 2:20pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/64 "2023-09-28T14:20:33Z")
> [@commasense](#): > > I’d be surprised if many families blithely bury their relatives wearing an obviously valuable heirloom like a diamond ring. > [@puzzlegal](#): > > And my mother gave her engagement ring to her grandson to give to an intended. So that’s two examples of rings not being buried. My gf has a diamond ring that has been passed down from her great-great grandmother (maybe another great in there). The original owner won the diamonds from her church in a money-raising festival. She bought a ticket and won a “pouch of diamonds” that had been donated to the church via a will. The woman then had a jeweler make a ring with the stones. It’s never been appraised, but we keep talking about doing it. It is breathtakingly beautiful, but it seldom gets worn due to its assumed value. ---
**Author:** ![md-2000](https://avatars.discourse-cdn.com/v4/letter/m/9d8465/32.png) [@md-2000](https://boards.straightdope.com/u/md-2000)\ **Post date:** [September 28, 2023, 3:24pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/65 "2023-09-28T15:24:15Z")
> [@TXRebel](#): > > The last three I’ve seen were rubies and sapphires. Rubies can be lab-grown, and as rods for lasers were quite common and not gem-priced. My wife once was looking for a ring with rubies in it, maybe 20 years ago or so - Tiffany’s did not sell them at the time because there was an ethical problem with the general source of natural rubies. > [@purplehorseshoe](#): > > I can’t imagine comfortably wearing a golf-ball-sized rock as jewelry. Where would you put it, besides maybe a headdress or tiara? I found a website selling cut “lab-grown” diamonds. A mere 10ct round cut would be about 14mm diameter and 8mm deep. It was in the $25,000 range. When we were shopping for engagement rings, the lady at Tiffany’s let her try on a 3ct (natural) diamond ring - only $90,000. At the time, that was more than my house cost. > [@commasense](#): > > According to NPR’s comedy quiz show, _Wait, Wait, Don’t Tell Me,_ because of the decline in the number of women getting engaged and married, some jewelry stores (maybe the idea originated with DeBeers?) are now trying to market diamonds as gifts between male friends. I recall maybe 1990’s deBeers was starting an ad campaign suggesting diamond jewelry was an appropriate gift for a daughter on special occasions like graduation. They were obviously trying to increase the market. Heirloom engagement/wedding rings (“this was my grandmother’s ring…”) is a common trope in assorted TV and film situtations - I assume it’s pretty common. OTOH, with the divorce rate and remarriage, maybe men have to buy several diamond rings. I have trouble imagining someone proposing with “well, yes dear, this is the same ring I gave to my first wife” (Assuming she gave it back…) ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [September 28, 2023, 3:43pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/66 "2023-09-28T15:43:18Z")
> [@md-2000](#): > > Heirloom engagement/wedding rings (“this was my grandmother’s ring…”) is a common trope in assorted TV and film situtations - I assume it’s pretty common. OTOH, with the divorce rate and remarriage, maybe men have to buy several diamond rings. I have trouble imagining someone proposing with “well, yes dear, this is the same ring I gave to my first wife” (Assuming she gave it back…) Typically it is given back if it’s an heirloom or it’s passed down to any children from the marriage to use. ---
**Author:** ![snowthx](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowthx/32/10660_2.png) [@snowthx](https://boards.straightdope.com/u/snowthx)\ **Post date:** [September 28, 2023, 4:20pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/67 "2023-09-28T16:20:18Z")
Heh. My dad hocked my mom’s wedding ring after she died. After he died, I went to the jeweler to see if at least the diamond was still there. Nope, it had been removed from the ring (which was presumably melted down or re-cast) and sold loose. It’s probably on someone else’s finger today. ---
**Author:** ![StarvingButStrong](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/starvingbutstrong/32/335_2.png) [@StarvingButStrong](https://boards.straightdope.com/u/StarvingButStrong)\ **Post date:** [September 28, 2023, 4:21pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/68 "2023-09-28T16:21:34Z")
> [@md-2000](#): > > I have trouble imagining someone proposing with “well, yes dear, this is the same ring I gave to my first wife” (Assuming she gave it back…) I’ve seen several times on shows like the old People’s Court that the engagement ring is a sort of conditional gift, and legally has to be returned if the marriage doesn’t happen. As far as ‘reusing’ a ring for subsequent engagements, I think that is where remounting the diamond(s) comes in. The gold part of the ring is a very small part of the price, and different settings can make a diamond look not at all the same as the previous ring. ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [September 28, 2023, 4:34pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/69 "2023-09-28T16:34:39Z")
> [@StarvingButStrong](#): > > I’ve seen several times on shows like the old People’s Court that the engagement ring is a sort of conditional gift, and legally has to be returned if the marriage doesn’t happen. Sure but the much more common scenario is a divorce. It’s probably best for heirlooms to be worn by the person whose family owned the ring. ---
**Author:** ![Pleonast](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pleonast/32/1183_2.png) [@Pleonast](https://boards.straightdope.com/u/Pleonast)\ **Post date:** [September 28, 2023, 4:38pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/70 "2023-09-28T16:38:41Z")
Do people actually put diamonds on wedding rings? All the ones I’m familiar with are simple bands. It’s the engagement rings that tend to be bejeweled. ---
**Author:** ![mbh](https://avatars.discourse-cdn.com/v4/letter/m/a6a055/32.png) [@mbh](https://boards.straightdope.com/u/mbh)\ **Post date:** [September 28, 2023, 4:42pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/71 "2023-09-28T16:42:27Z")
It happens occasionally. The engagement ring usually has more ostentatious decoration, but some people have decorated wedding rings. Sometimes the decorations on the engagement ring and the wedding ring will interlace. ---
**Author:** ![doreen](https://avatars.discourse-cdn.com/v4/letter/d/858c86/32.png) [@doreen](https://boards.straightdope.com/u/doreen)\ **Post date:** [September 28, 2023, 4:54pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/72 "2023-09-28T16:54:19Z")
Usually a solitaire is an engagement ring but there’s a style with multiple small diamonds ( I think it’s called an “eternity ring” ) that I’ve never seen as an engagement ring . It’s either a wedding ring or an anniversary ring. ---
**Author:** ![puzzlegal](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/puzzlegal/32/3827_2.png) [@puzzlegal](https://boards.straightdope.com/u/puzzlegal)\ **Post date:** [September 28, 2023, 5:48pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/73 "2023-09-28T17:48:12Z")
> [@md-2000](#): > > . I have trouble imagining someone proposing with “well, yes dear, this is the same ring I gave to my first wife” (Assuming she gave it back…) I didn’t tell the full story of my mother’s ring. She gave it to my son, who gave it his finance. They are getting divorced, and his ex returned the ring. So my son gave it to his cousin, who is likely to get engaged soon. To my nephew, it’s more “Nanny’s ring” than it is the ring representing my son’s failed marriage. Anyway, no one has buried it. If he didn’t have a cousin to give it to, it probably would have been kept as a family heirloom and eventually been sold. ---
**Author:** ![FlikTheBlue](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/fliktheblue/32/10972_2.png) [@FlikTheBlue](https://boards.straightdope.com/u/FlikTheBlue)\ **Post date:** [September 28, 2023, 8:22pm UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/74 "2023-09-28T20:22:09Z")
I was catching up on this thread when an ad for diamond rings appeared between posts. It was for Clean Origin, for lab grown diamonds. I got a chuckle from that 😆. ---
**Author:** ![Al128](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/al128/32/16541_2.png) [@Al128](https://boards.straightdope.com/u/Al128)\ **Post date:** [September 29, 2023, 1:18am UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/75 "2023-09-29T01:18:22Z")
> [@kayaker](#): > > My gf has a diamond ring that has been passed down from her great-great grandmother (maybe another great in there). The original owner won the diamonds from her church in a money-raising festival. She bought a ticket and won a “pouch of diamonds” that had been donated to the church via a will. > > The woman then had a jeweler make a ring with the stones. It’s never been appraised, but we keep talking about doing it. It is breathtakingly beautiful, but it seldom gets worn due to its assumed value. a word on appraisals: quite often those numbers are pulled out of somebody’s rear … if a jeweller is appraising the ring at - say - $10k … ask him if he wants to buy it at this price … chances is the answer is NO. Ask again, at which price he would buy it … the answer is probably in the 10-30% zone of the appraising … THAT is the value of the ring… 9 out of 10 jewellery sellers are in for a huge disappointment as there is very little intrinsic value en jewellery - they basically all go to the j. boneyard. ---
**Author:** ![Chronos](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chronos/32/134_2.png) [@Chronos](https://boards.straightdope.com/u/Chronos)\ **Post date:** [September 29, 2023, 2:26am UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/76 "2023-09-29T02:26:22Z")
> [@purplehorseshoe](#): > > I can’t imagine comfortably wearing a golf-ball-sized rock as jewelry. Where would you put it, besides maybe a headdress or tiara? It would be draggingly heavy even as a necklace (imagine it banging against your clavicle all night!) and earrings would be unthinkable. Maybe a longer necklace, so it’s in the middle of your chest instead of your clavicle? But the point was, if gem-quality stones can be made that large, they can be made in whatever size you’d actually want, too. > [@md-2000](#): > > I found a website selling cut “lab-grown” diamonds. A mere 10ct round cut would be about 14mm diameter and 8mm deep. It was in the $25,000 range. I expect that a scientific customer isn’t buying from the same companies, or at least not through the same portal, as someone buying jewelry. ---
**Author:** ![md-2000](https://avatars.discourse-cdn.com/v4/letter/m/9d8465/32.png) [@md-2000](https://boards.straightdope.com/u/md-2000)\ **Post date:** [September 29, 2023, 3:15am UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/77 "2023-09-29T03:15:16Z")
> [@Al128](#): > > if a jeweller is appraising the ring at - say - $10k … ask him if he wants to buy it at this price … chances is the answer is NO. Well of course, do you want an appraisal that says “this is what it cost you to buy from a jeweler” or one that says “this is what a jeweler will give you.” The first is what you want from insurance in the event of of a loss. A jeweler I assume has a markup. Might get more if you are trading it in for a much more expensive one. That’s how cars work. ---
**Author:** ![kenobi\_65](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kenobi_65/32/13178_2.png) [@kenobi\_65](https://boards.straightdope.com/u/kenobi_65)\ **Post date:** [September 29, 2023, 3:25am UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/78 "2023-09-29T03:25:32Z")
> [@md-2000](#): > > Well of course, do you want an appraisal that says “this is what it cost you to buy from a jeweler” or one that says “this is what a jeweler will give you.” Exactly this; it’s the gist of what you see, again and again, on _Pawn Stars_. Customer comes in, says, “I have this thing, I’ve heard it’s worth $500, so I want $500 for it from you.” Pawn guy replies, “well, yeah, I might be able to _sell_ it for that, but I can’t give you that much for it, I have to make a profit.” ---
**Author:** ![puzzlegal](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/puzzlegal/32/3827_2.png) [@puzzlegal](https://boards.straightdope.com/u/puzzlegal)\ **Post date:** [September 29, 2023, 4:06am UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/79 "2023-09-29T04:06:23Z")
> [@Chronos](#): > > But the point was, if gem-quality stones can be made that large, they can be made in whatever size you’d actually want, too. This. I don’t want a gold ball sized diamond. But i might like several half carat diamonds in an attractive setting. And that might be feasible if it’s cheap enough to make them. ---
**Author:** ![MrDibble](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mrdibble/32/114_2.png) [@MrDibble](https://boards.straightdope.com/u/MrDibble)\ **Post date:** [September 29, 2023, 5:17am UTC](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777/80 "2023-09-29T05:17:08Z")
> [@kenobi\_65](#): > > I have to make a profit. But not a profit in the 100s of %, which is what you’d get with the difference in sale vs buying price for diamond jewelry . [Previous page](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777.md?page=3) [Next page](https://boards.straightdope.com/t/de-beers-monopoly-and-diamond-prices/990777.md?page=5)