9 Easy Facts About Diamond engagement rings, wedding rings - Emerald Described
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1-billion at the wholesale level in 1979, an almost hundredfold increase. Thanks mainly to the work of the now 86-year-old American investigative journalist, Edward Jay Epstein, this story of the fairly recent development of the diamond ring as quintessential to the engagement ritual, is one that is quickly accessible to all who may wonder how it became the ultimate symbol of love and intent to wed, that a lot of us unquestioningly accept it to be.
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In it, Epstein takes an in-depth take a look at how, upon the discovery of diamonds in South Africa, the British colonist investors behind the mines would go on to develop De Beers Consolidated Mines into a cartel that, throughout the 20th century, basically produced a monopoly that fixed diamond costs and controlled the around the world market for diamonds.
This deliciously long read focuses in part on the development of the advertising strategy that would take the ancient custom of wearing an engagement ring frequently and most dependably traced back to ancient Rome and turn it into a universal custom. In a world that perhaps still continues to be formed by advertising and popular media, that now nearly 40-year-old article deserves revisiting; if not every year, then at least every generation, not just because of Epstein's deep dive into the creation of the contemporary engagement ring, however likewise as an insightful look at the early use of a few of the marketing techniques that victimize our need to belong, which continue to be used today.
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According to the book,, "the tradition of diamond engagement rings came about through Maximilian I, archduke of Austria (1459 1519), who offered a diamond ring to Mary of Burgundy (1457 1482) in 1477." Over the following centuries, diamonds rings continued to grow in appeal and function on the digits of the aristocracy and the well-off.
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That would change with the late 19th-century discovery of diamonds in South Africa and the establishment of De Beers Consolidated Mines. Which is Another Point of View that would alter. A number of historians and academics have argued that the discovery of diamond mines along with the gold mines, laid the ground for apartheid.