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Obviously, it is not. It can be ruined in any number of methods. But with this in mind, the diamond's worth grew exponentially in the minds of consumers. And because diamonds actually depreciated substantially in worth for those who would attempt to resell them, it likewise assisted to make sure that owners would rather keep their "permanently" diamonds than attempt to sell them.

Image: Alekon Pictures/ Unsplash The anecdotes Epstein shares of the wealthy trying to sell their diamond jewellery may inspire a bit of schadenfreude; such as the wealthy New York woman who attempted to sell her $100,000 Tiffany ring back to Tiffany & Co, 2 years later, thinking that since of the diamond boom, she may make an earnings.

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Over the 4 years after 1938, the NW Ayer strategy would be fine-tuned in action to market patterns and mining truths. In the 1960s, when the Soviets found Siberian mines, which yielded smaller diamonds, De Beers handled the marketing for them. Their US campaign moved the focus from size and concentrated on "the value of quality, colour and cut" instead.

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The typical size of diamonds sold fell from one carat in 1939 to. 28 of a carat in 1976, which coincided nearly precisely with the average size of the Siberian diamonds De Beers was distributing," Epstein writes. Likewise during the 1960s, NW Ayer dealt with a campaign to create demand for diamonds amongst long-married couples, and asked De Beers to authorise the start of a "long-lasting process of setting the diamond aside as the only appropriate present for those later-in-life celebrations where belief is to be revealed," which the business authorized.

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Amongst their most noteworthy successes, was Japan. Epstein composes: "When the campaign started, in 1967, not rather 5% of engaged Japanese females received a diamond engagement ring. By  This Is Noteworthy , the percentage had increased to 27%. By 1978, half of all Japanese ladies who were married wore a diamond; by 1981, some 60% of Japanese brides wore diamonds.

Diamonds ended up being a staple of the Japanese marriage." The rest is, as they say, history; and as mentioned above, Epstein's in-depth and well-sourced essay for The Atlantic is a must-read. While De Beers no longer controls almost as much of the market as they as soon as did, their 20th-century campaign transformed around the world tradition.