The diamond engagement ring for the love of your life

Because of the belief that a diamond engagement ring was a calming agent between man and wife, it was recommended as the setting stone for wedding or engagement rings, not because of its beauty. It was described by Isidore of Seville as a small stone devoid of beauty. When he sees a diamond in the rough, it could easily be mistaken for a piece of sea glass that has been worn away by waves on a beach for years.

For many years it was thought that diamonds worn on the left hand would ward off evil spirits and signify public commitment. Eventually those who could afford it started calling it a diamond engagement ring. The popularity of the diamond engagement ring really started to take off in 1938 when the advertising slogan, Diamonds are forever, was coined and when De Beers introduced the control system that worked successfully as diamonds were withdrawn from the market through of a monopoly. In the early 20th century, one of the presidents of the De Beers Diamond Mining Corporation optimistically predicted that the diamond trade would prosper “as long as the men are fools and the women vain.”

The rise in online diamond engagement ring sales has disrupted the market by increasing sales worldwide and customers now have a greater understanding of the diamond engagement ring business and the flow of diamonds from the mine to the finger of the lucky woman.

The jewelry retail business is in a state of flux as online retailers are making it harder for traditional retailers to compete. When considering the many expenses such as rent, electricity, parking lot maintenance, and print advertising, as well as staffing costs, most of these business owners should be very concerned.

The online retailer has the advantage of operating out of a warehouse, they don’t need a fancy building or a huge parking area to conduct diamond ring sales. Once the website is set up, you are ready to sell 24/7, your marketplace is open worldwide.

In many areas of Africa, revolutionary groups have taken over some of the diamond mines using the profits to finance their illegal operations. These diamonds are known as conflict diamonds or blood diamonds. The United Nations instituted a system to control diamonds stolen from these groups by insisting that all legal diamonds must be accompanied by a certificate of sale as they move through the system, but the system has not worked well. Today, these blood diamonds account for less than 2% of the total market share.