De Beers Pulls "Last Resort" Price Cut As Diamond Price-Floor Crumbles
(www.zerohedge.com)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (75)
sorted by:
We were discussing natural diamonds. Yes, I am familiar with synthetic counterparts in this and other products. But we were primarily concerned with scarcity as a market condition (scarcity/supply vs. demand), and that has long been a feature of the DeBeers monopoly, to limit the market scarcity by metering. The market really doesn't function according to what we believe; it functions according to supply and demand, as do all markets, be it in diamonds or daffodils.