Diamond Cartel (POPULAR × COLLECTION)

: During economic downturns, like the Great Depression, the cartel would withhold supply and stockpile diamonds to keep prices from falling.

: De Beers formed the Central Selling Organization (CSO) to act as a single gateway. They bought rough stones from other miners to prevent them from hitting the open market and lowering prices. Diamond Cartel

The cartel's primary goal was to ensure diamonds remained expensive despite being relatively abundant in nature. : During economic downturns, like the Great Depression,

Since diamonds have little practical "use-value" for consumers, De Beers had to create a psychological one. Why The Diamond Cartel Is So Long Lasting Economics Essay The cartel's primary goal was to ensure diamonds

: "Sightholders" (authorized buyers) were offered "boxes" of diamonds at a fixed price with no room for negotiation . If a buyer refused a box or tried to resell rough stones elsewhere, they were blacklisted from future sales. 2. Marketing: "A Diamond is Forever"