Banner Photo #117: How The $60 Billion Diamond Industry Maintains Its Value & Thrives On Symbolism

by • February 24, 2013 • Banner Photos, BusinessComments (0)1826

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Diamonds are the single most concentrated form of wealth on Earth, but have you ever wondered why?  How is it that these crystal clear gems have been accorded such enormous value?  There are many things in our world that are as rare, if not even rarer, than diamonds, yet nothing else seems to captivate us with the force and power of a brilliantly cut diamond stone.  In a feature report for CBS This Morning, reporter Rebecca Jarvis takes a close look at the $60 billion diamond industry and asks the experts why these tiny stones are worth so much.  Is their value derived mostly from their scarcity, or is it connected moreso to what these precious stones symbolize?  You can watch the full report below.

SEE ALSO: Damien Hirst’s $80,000,000 Diamond-Encrusted Skull “For The Love Of God”
SEE ALSO: The Bizarro Story Of The Flawless 43-Carat “Golden Eye” Diamond & Its Auction
SEE ALSO: The Economist & INTELLIGENT LIFE Take A Fascinating Look At Historic Breakthroughs In Jewelry

Source: CBS This Morning
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