Many people believe that diamonds’ huge price comes from their rarity but their real worth is nothing compared to the outrageous price that is placed on them. Diamonds were first discovered around 300b.c. in India and they were prized as divine objects by Indian rulers. In 1871, Cecil Rhodes bought the De Beers mines and named his new company after them. He employed lots of South African miners to work for him. As a result, he had lots of diamonds in his ownership but no one wanted to buy them because of the great depression and they had no demand at all. But Cecil powered through, creating one of the most successful advertising campaigns to date, called "Diamonds are forever". He gave diamonds to one of the most famous celebrities, Charlie Chaplin, and others who helped Da Beers. He also made lots of ads with the characters from the James Bond movies and sales skyrocketed from that point on. Since he had bought almost all the diamond mines in the world, he made a fortune and so Cecil decided to make prices much higher. And even though Da Beers didn’t control all the diamonds in the world, it still was one of the biggest companies in the world.
Dimitris Manolessos
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