Diamond was a part of the economy from a very long time. Diamond cutting was introduced in Paris as early as in the 14th century and later the diamond route was seen cross over to Bruges and then Antwerp. Later in the 18th century, as diamonds came to be adorn by women, they became more fluent as a trade commodity. However, it was at the end of the 19th century in the 1870s that diamonds truly came to be understood as having entered the global economy. This is because of the abundance in sourcing. In the 1870s, many diamonds were discovered in South Africa. With the supply sources increasing, people who had the right amount of money were able to afford diamonds.
Investments and Production
The investments into diamonds during this time came to be for the huge market that was opening up for diamonds. The diamond deposits that were discovered in the 1870s had changed what once used to be a precious gem into a commodity that could be afforded by everyone. Investment opportunities could be tapped because people were interested in procuring the same diamonds that the aristocracy and imperialists of time had flaunted. Anybody who was able to afford the gems wanted them. With the increasing demand that was created, some jewels were sold to new capitalists. Especially in the United States, it was observed that people were interested in acquiring the jewels. They were interested in working with some suppliers from the continent who sourced their diamonds from South Africa.
Supplier, consumption, and retailer form of supply chain relationship was present here. The France had buyers such as Boucheron and Bapst and for New York, it was Tiffany & Co. These were some of the main retailers who were to go on and become some of the major buyers of the market. Even though some important suppliers were identified in Brazil, it was still South Africa and the finding of the diamond lode in 1870s that was to change how diamonds came to an open market. It resulted in a dramatic increase in diamonds and projected a supply demand relationship of all proportions.
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