In the year 2000, DeBeers finally ended its monopolistic tactics because diamond suppliers had become fed up with their dishonesty and consequently either decided to sell the diamonds on their own or market them through other companies. Diamond producers in Africa in particular did this and essentially kicked DeBeers out of their countries in order to expand their own local diamond industries. In addition, other luxury goods were in demand, which placed the diamond in the backseat. Thus, DeBeers changed its business model and now only works through supply and demand rather than by hoarding and exploitation.
With DeBeers change in their business model, their profitability has increased, even though their market share has decreased. DeBeers still has some mining operations in Africa; however, this diamond mines are severely limited and essentially are in conjunction with governments who can negotiate and force them to treat their workers fairly and not exploit diamond miners anymore. Regardless, because DeBeers is one of the oldest diamond companies in the world, it is also one of the most respected. This means that their diamond prices often are the base price for most diamonds. However, even this is being eroded by the popularity of the Rapaport list, which gives the value of any given diamond, so it remains to be seen whether DeBeers will maintain their influence over diamond prices in the foreseeable future.
If you knew the history behind diamonds, you might not want one. While they may symbolize wealth and beauty, there is another side. This other side is a dark, underworld of greed, terrorism, and bloodshed. This is where the term "blood diamonds" derived from.
Gold and Diamond jewelery from UK new and pre owned - lot of text you can take from our website. Every collection has a lot of info that you can take. Diamond by the yard necklace
