A Diamond May Be Forever – But Madison Avenue Admen Made It That Way
The world's largest diamond is the 530-carat monster, named Cullinan I, or often called the more elegant "Great Star of Africa." The Great Star resides in Europe. It is part of the British Crown Jewel's.
Why exactly are diamonds considered to be the epitome of jewels? They are the hardest natural substance. That is certain. But they are not the most rare. Nor are they, in most people's opinions, the most beautiful. The deep green of the emerald, haunting blue of the sapphire or the brilliant red of the ruby would probably win over clear diamonds any day, all other things being equal.
No, diamonds immense popularity is, like many other inferior products (flavored sugar water, thin tasteless meat patties, poorly made running shoes), a product of brilliant advertising and little more.
Annual worldwide diamond sales, never really substantial to begin with, had, by 1932 during the Great Depression, fell to a measly $100,000. Diamond giant, De Beers, was pulling thousands of the stones from the ground every year and losing money. So they turned to the minds on Madison Avenue for help.
The boys in New York came up with what Advertising Age magazine would later called the "Best Slogan of the 20th Century."
"A Diamond is Forever."
The slogan and ads convinced suitors that the only way to express their undying love was with a diamond engagement ring, heretofore not really a big tradition, and sales sky-rocketed. Good ol' De Beers did their part by hold back diamonds creating artificially scarcity.
By 1979 the diamond market, still controlled almost exclusively by De Beers, was would $2 billion a year.
One last interesting fact -- The Krupp Diamond given to Elizabeth Taylor by Richard Burton (hubby #6 and #7) was the 56th largest diamond in the world at the time and the largest in private hands.
I hope you enjoyed this bit of trivia. Here is something that is not so trivial.
Acid Reflux Disorder affects between 60 and 70 million people in America and costs almost $142 billion in total medical bills. In fact, almost 1/5 of the US population suffers from acid reflux disease. Find out about Acid Reflux Disorder, how it is damaging your esophagus and what you can do to prevent and stop it.