“A Diamond is a Girl’s Best Friend”? Or is it a Global Scam?

Diamonds have long been associated with luxury, elegance, and unwavering durability – everyone probably knows the phrase “diamonds are forever.” It is no wonder that many people consider diamond engagement rings to be a symbol of eternal love. However, upon closer inspection, it turns out that diamonds are not only a symbol of love but also the product of one of the most thoughtful and effective marketing campaigns in history. How did it happen that stones that were relatively unpopular at the beginning of the 20th century became one of the most desirable jewelry items?

The History of Diamonds: The Beginnings of Market Manipulation

Brilliants, or cut diamonds, were known in ancient times and their value was due to limited resources. Found only in rivers in India and Brazil, the gemstone was a rare and therefore luxurious commodity. The discovery of deposits in Africa in the 1870s changed the situation dramatically. Mining increased significantly and tons of stones, many of them of poor quality, reached the world markets. This caused a drop in prices and serious problems for mine owners and investors.  

The response to this crisis was the establishment of the De Beers Cartel in 1888, which brought together the most important producers. The organization quickly took over most of the world’s diamond production. Thanks to this control, the company could influence the supply of the raw material, and therefore its price. De Beers began to use a strategy of limiting the supply and accumulating diamond stocks, which artificially kept their prices high. However, this was not enough. Between 1919 and 1938, the demand for diamonds in America fell by half. The company needed a way to encourage customers to buy. To this end, it launched a large-scale marketing campaign that was to change the public’s perception of diamonds forever.  

Diamond Engagement Ring – Age-old Tradition or Skillful Manipulation? 

“Diamonds Are Forever” – the Most Effective Advertising Slogan in History

In 1947, the N.W. Ayer advertising agency created one of the most iconic advertising slogans of all time: “A Diamond is Forever.” The slogan was intended to reinforce the idea that diamonds—especially those in engagement rings—were symbols of permanence and everlasting love. The campaign was aimed at future engaged couples, emphasizing that a diamond ring was not only a symbol of love but also a necessary element of a successful engagement.

This strategy proved to be incredibly effective. By the 1950s, almost every American was convinced that an engagement ring without a diamond was inappropriate and devoid of emotional value. According to The Atlantic, sales of diamond rings increased by 55% in the three years following the campaign’s launch. At the beginning of the 20th century, only 10% of all engagement rings had a diamond, while by the end, it had risen to 80%.

Hollywood Stars in the Advertising Campaign: Diamonds and Spotlights

Advertising campaigns promoting diamond rings would not have been as effective without the intense involvement of Hollywood stars. In the 1940s and 1950s, as part of the De Beers strategy, diamonds began to appear on the fingers of the most popular actresses and screen icons. The biggest stars of the time, such as Marilyn Monroe, Elizabeth Taylor. and Grace Kelly, were not only photographed wearing diamond rings but also publicly emphasized their uniqueness and emotional value. Hollywood became the perfect place to build the belief that a diamond ring is an indispensable symbol of status, luxury, and class.

The film Gentlemen Prefer Blondes (1953) with Marilyn Monroe played a special role in building this myth, featuring the famous song “Diamonds Are a Girl’s Best Friend.” The scene with Monroe singing about her love of diamonds became iconic and permanently introduced precious stones into popular culture. Not only were celebrities visible on screen, but they also promoted diamonds in real life, which led ordinary people to associate these stones with a life of glamour and Hollywood shine.

link to a fragment from the film Gentlemen Prefer Blondes

The Myth of Diamond Rarity

A key element of the campaign was to introduce the idea that diamonds were extremely rare and valuable. In reality, De Beers had been restricting supply for decades, which artificially inflated their price. In the meantime, there are many other precious stones in nature that are much rarer than diamonds, such as sapphires and rubies. However, their prices did not reach the same levels because they were not accompanied by the same effective marketing campaign as diamonds.

Emotions vs. Reality

One of the most important aspects of selling diamonds is playing on consumers’ emotions. For decades, advertising campaigns have built associations between diamonds and love, commitment, and luxury. Jewellery companies have successfully convinced the public that buying a diamond ring is the best way to express one’s feelings and commitments. Advertisements often depict a man kneeling before a woman with a ring in his hand – a scenario that is now widely accepted as the “norm” of engagement.

Is a Diamond Ring a Good Investment?

The price of diamonds is largely the result of market manipulation. De Beers, having a monopoly on diamonds for many years, controlled their supply and manipulated prices on world markets. The company deliberately put a limited number of diamonds into circulation, which increased their value. In addition, diamonds themselves are not as valuable as they seem. While many consumers buy diamonds in the belief that their value will increase, the reality is quite different. Diamonds do not compare particularly well to currencies or precious metals from an investment perspective. In addition, the jeweler’s margin significantly increases the price. The customer spends money not only on the product itself, but also on the brand name, packaging, and the entire emotional atmosphere created by marketing activities.

Ethics of Diamond Mining

In addition to marketing issues, it is also worth mentioning the moral aspects of diamond mining. For years, the diamond industry has been struggling with problems related to so-called “blood diamonds” – stones mined in regions affected by armed conflicts, where profits from their sale finance wars and crimes against humanity. Despite the introduction of the Kimberley Certificate aimed at eliminating such practices, cases of unethical diamond mining still exist.

When buying a diamond ring, it is worth considering where the stone comes from and whether it contributes to supporting violence and exploitation of people in Third World countries. An alternative may be synthetic diamonds, which do not have such a negative impact on the environment and local communities. There are other gemstones available on the market, such as sapphires, rubies, or emeralds, which are often just as beautiful or even rarer than diamonds.  Another interesting option is an engagement ring without stones, which focuses on an original design rather than an expensive stone. In this way, engaged couples can express their individuality and love in a more unique way, without being fooled by corporate marketing.

In summary

The diamond ring, although considered a symbol of love and commitment, is in fact the result of a brilliant and deliberate marketing manipulation. Jewellery companies, led by De Beers, have successfully convinced the world that diamonds are an essential element of engagement, although their actual value is often artificially inflated. Consumers pay for stones that are not as rare as they seem and that lose value immediately after purchase.

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