Diamonds. Aren’t. Rare. Massive diamond mines make them extremely abundant, but the diamond cartel purposely limits supply to keep the illusion of diamond rarity and prices high. And no one knows...
Diamond prices depend almost entirely on artificial scarcity. They’re usually marked up between 500%-1000% what they cost to produce, and that’s not even including the diamond cartel’s fees.
The diamond industry’s biggest secret is blood diamonds. Diamonds from miners who are abused, killed, or forced to mine for >$1 a day. Sometimes slaves, sometimes children.
Almost all large diamond corporations knowingly participate in broken “ethical” diamond sourcing practices like the Kimberly Process (which is BS).
“Blood diamonds continue to be mined and sold and find their way into jewellery stores worldwide” - Human Rights Watch
Diamond alternatives like CZ stones cost around 200 times less, and they’re so good most expert jewelers can't tell the difference.
Why doesn’t the public know this? Because the diamond industry spends millions in marketing to convince people ONLY their stone is worth buying.
Diamond chains are the prime example of overpriced stones. You can expect to pay $30k or more for a men’s diamond chain.
But luckily there’s brands like Icemob that use VVS+ clarity CZ stones and real 18K gold plating to build pieces that look the same, but cost 100x less.
To be honest they’re one of the only brands trying to destroy the overpriced, unethical diamond industry right now.