Edward Epstein

The Rise And Fall Of Diamonds

An investigation by Edward Jay Epstein into the De Beers cartel and the fantastic machine that created the illusion that diamonds are forever. The story of the men and manipulations that maintained the value of diamonds for over a century. Based on interviews with Harry Oppenheimer and the key executives of De Beers. As Newsweek describes it, «Reads like high-finance James Bond. Fascinating detail.»
304 printed pages
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  • Anton Voryhalovhas quoted5 years ago
    First, there was a problem of what economists call «opportunity costs.» Manufacturing gem diamonds required tying up the press for nearly a week. In that same period, the presses could produce batches of powdered diamonds for industrial purposes every three minutes. Even though diamond powder could be sold for roughly only one percent what gem diamonds could be sold for, it would still be far more profitable to use the press for powder rather than gems.
  • Anton Voryhalovhas quoted5 years ago
    By 1970, more than half the diamonds produced in the world were man-made. Unlike prices for gem diamonds, which rose steadily during the postwar period, the
  • Anton Voryhalovhas quoted5 years ago
    After examining this second batch of diamonds with their loupes, Sir Julius conferred with Oats in private. Oats suspected that the whole experiment was nothing more than a hoax. Sir Julius understood Oats’ doubts, but believed that there was still some chance that this French inventor had stumbled on the secret formula for diamonds.
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