Diamonds have long been perceived as overpriced relative to their natural abundance, largely due to the control wielded over their supply by a handful of dominant entities in the industry. These entities have historically managed nearly every aspect of diamond mining, processing, and distribution, allowing them to carefully regulate the flow of diamonds into the market.
One of the primary tactics employed by these entities to control supply is strategic stockpiling. By withholding a portion of the diamonds they mine from entering the market, these entities can create an artificial scarcity that helps maintain higher prices. This practice has been a key factor in supporting the perception of diamonds as rare and precious gems, despite their more abundant presence in nature.
However, this controlled supply chain and pricing structure have led some consumers to seek alternatives to natural diamonds. Moissanite, for example, is a gemstone that occurs naturally but is often lab-created for use in jewellery. Moissanite offers a more affordable option with similar brilliance to diamonds, making it an attractive alternative for consumers looking to save money without sacrificing beauty or durability. Additionally, moissanite is not subject to the same supply control as natural diamonds, making it a more accessible and potentially more ethical choice for some consumers.
