There are many famous precious materials that the common person knows. Gold, silver and, more recently, platinum are all known for their rarity and desirability. However, it is a crystalline form of carbon, not a precious metal, which enjoys more prestige than all three combined. The diamond. Since the Kimberly Diamond Rush began in 1866, diamonds have played a very special role in our society. From a young age, we are taught that diamonds are extremely valuable due to their unparalleled beauty and apparent rarity. However, few people know that since diamonds were discovered in Kimberly, South Africa, the industry of distribution and sale of these diamond gemstones has been primarily run by a single cartel. The “De Beers Mining Company”. A cartel is defined as “an international syndicate, formed in particular. controlling prices and production in certain areas of activity” (The Free Dictionary 2009) and “De Beers” fits this definition very well. Over the past 120 years, they have been instrumental in controlling the price of diamonds. The following essay will give a brief history of the De Beers Mining Company and the diamond industry as a whole. He will also discuss several arguments that support the claim that diamonds are expensive and shed light on the connection between diamonds and marriage. Before the discovery of diamonds in South Africa, the diamond trade only really existed in India and Brazil. No significant deposits had yet been discovered and, as a result, diamonds commanded exorbitant prices. However, everything changed when the first diamond was discovered in the Kimberly region of South Africa. Soon after mines began springing up all around Kimberly, with the Vaal River...... middle of paper......) to control the diamond market, it was evident that the price of diamonds is too high. Due to the monopolistic nature of the market, the De Beers diamond cartel is able to reap huge profits by controlling the supply of diamonds. It's quite surprising to know that even in this modern age, a single company is pulling all the strings in what has become a huge global market. Unfortunately, I believe that at present only a diamond ring is an acceptable engagement ring. As long as our parents and grandparents tell us stories about their beautiful diamond engagement rings and how much "3 months' salary" cost, diamond rings will remain the norm. It has been ingrained in our society through decade-long jewelry advertisements. In particular, the coined phrase "a diamond is forever" adds to the hope and wish that the marriage will last..