We hear so often today about the diamond values – in reality, diamonds are really not that rare. Alexandrite is a much more expensive gemstone. The worldwide production of diamonds is 29 tons. The De Beers Diamond They spend a fortune on keeping the expression, ‘Diamonds are Forever,’ in front of the public by way of advertising.
De Beers Diamond Corporation sells to two different types of customers:
A Sightholder – someone who has agreed to a contract over a period of time and an Accredited Buyer, one who may be invited to purchase on an ad hoc basis.
Sightholders are invited to attend what are called sights every five weeks or so throughout the year. These sales allow the customers to see the allotment of diamonds being offered and then they decide to either purchase the package or not. Some 90 percent of the diamonds available to the Sightholders are sold in this manner. De Beers has an open approach for would-be customers to be considered as Sightholders and Accredited Buyers. Applicants must meet very stringent financial and ethical considerations and demonstrate that they have a high demand for diamonds before being accepted. Sightholder sales are held in Antwerp, Tel Aviv, Israel and Mumbai. They are experts in dealing with the manufacturing and polishing of stones and designing and manufacturing fine jewelry the world over.
Ten percent of De Beers diamonds are sold via online auction sales. This policy has been very successful since 2008 and bidders from more than 600 companies are invited to take part in the auctions. The buyers have the opportunity to purchase the quality and quantity they require at prices they decide. No wonder they advertise Diamonds are Forever.
The modern age of diamond mining began in 1860 in Kimberley, South Africa. In 1865, an 80-carat diamond was found, and then another larger diamond was found setting off a rush to the area. Over the next 40 years, 50,000 men dug into the earth with picks and shovels. In 1888, all of the separate mines that had formed over the years were bought out by Cecil Rhodes, Charles Rudd and De Beers and they formed the De Beers Consolidated Mining Corporation. Now that you know the history of diamonds I trust that you will not only have a good understanding of the diamond industry but you will use this knowledge while you shop for your diamond engagement ring.