The diamond market is no longer controlled by De Beers after a century long monopoly

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Historically the diamond industry was structurally flawed -the De Beers monopoly controlled prices.  But, with peak market share reaching almost 90% in the late 1980’s, a series of events over the next 25 years led to the erosion of the De Beers monopoly. Today, De Beers no longer has control of the diamond industry, and for the first time in a century, market supply and demand dynamics, not the De Beers monopoly, drives diamond prices.

UNITED STATES - DECEMBER 27:  This De Beers' "Bridal Bar" unique engagement ring has a 4.46 carat center stone surrounded by 170 smaller diamonds bringing the ring to a total of 5.51 carats. The ring is seen in front of De Beers? logo in a jewelry store in Los Angeles, California, USA, on December 23, 2005.  (Photo by Jamie Rector/Bloomberg via Getty Images)

UNITED STATES – DECEMBER 27: This De Beers’ “Bridal Bar” unique engagement ring has a 4.46 carat center stone surrounded by 170 smaller diamonds bringing the ring to a total of 5.51 carats. The ring is seen in front of De Beers? logo in a jewelry store in Los Angeles, California, USA, on December 23, 2005. (Photo by Jamie Rector/Bloomberg via Getty Images)

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