How much is your diamond engagement ring really worth?
This is a very important documentary to watch if you ever plan on getting married and wishing to receive or to buy a diamond ring. Or, if your already have one, you might realize it has more of a sentimental value, rather than something worth a lot of money.
Now, I love blue diamonds…. but after watching this, I think I might stick to precious stones that have real value, like sapphires and emeralds, for example. 🙂
The Diamond Empire: Oppenheimer family’s cartel, Artificial scarcity (1994)
De Beers is able to create an artificial scarcity of diamonds through its wholly-owned Central Selling Organization (CSO), thus keeping prices high.
A cartel is a group of formally independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other restrictive practices.