Diamonds have been a coveted object of desire for nearly 2,400 years. However, most of the diamonds in circulation today, actually predate humanity’s interest in these gemstones. It is estimated that the iconic gemstones are between 1 billion to 3.5 billion years old.
Diamonds form about 90 miles below the earth’s mantle under high pressure and temperatures. Volcanic actions then violently eject the crystals to the earth’s surface. These diamonds are mined, then cut and polished to enhance the gemstone’s natural beauty.
The Origins of Our Love Affair with Diamonds
Humanity has long possessed an affinity for the gemstone. The first account of the world’s love of diamonds originated in India. Records indicate that diamonds were traded as currency as early as the fourth-century BC. Indian nobility also possessed an affinity for diamond jewelry. Slowly, demand for diamonds disseminated to Europe. By the 1400s, diamonds became fashionable among the European royalty.
However, as demand increased, India’s diamond supplies began to dwindle, leaving a vacuum in the supply chain. Soon after, Brazil emerged as another diamond provider. For the next 150 years, Brazil continued to dominate the diamond market.
Prior to the 1800s, royalty owned the majority of diamonds. However, following the collapse of the French ruling class, revolution brought wealth redistribution to Europe. For the first time in history, wealthy individuals without ties to nobility could procure diamonds. During this time, America became increasingly significant consumers for diamond jewelry. Today, America continues this legacy. In 2018, America imported $24.4 billion dollars worth of diamonds, 19.4% of all diamond imports.
Today, Botswana leads the world’s diamond production. With the discovery of diamonds in Kimberley, South Africa diamond production increased dramatically in the mid-1860s.
In 1888, entrepreneur, Cecil Rhodes capitalized on the rapid discovery of diamond mines throughout South Africa and formed De Beers Consolidated Mines Limited. By 1900, De Beers controlled an estimated 90% of all rough diamonds. In 1938, De Beers introduced the now iconic slogan, “A Diamond is Forever”. This slogan reinforced the connection between diamonds and marriage. A diamond’s purity and sparkle became symbols of the depth of a man’s commitment to the woman he loves throughout the world.
At the end of the 20th century, world diamond mining expanded again with the discovery of sources in Australia in 1985 and important new deposits in northern Canada in 2000.
Diamonds and Marriage
Diamonds may last forever, but not all marriages do. Nearly 50% of all marriages in the United States end in divorce or separation. Research indicates, divorce is the second greatest stress an adult can experience, and the financial hardships posed by divorce are undeniable.
At Diamond Banc, we are sympathetic to this transition. Diamond Banc is dedicated to providing a safe place to sell your bridal jewelry when the time is right.
Our highly trained gemologists consider every value-adding factor when determining the liquid wholesale value of your diamond. Start the process online by completing the forms and uploading all supporting documents and pictures, after that, one of our market directors will reach out to schedule a time to complete the transaction in one of our private, professional and discreet offices.
If you are in the Tampa area, feel free to call Jodi in our Tampa office at 813-609-4331 to get the process started.
Not located in the Tampa area? No problem! You can reach out or visit any of our nationwide locations today.
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