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The company was De Beers and they no longer have a monopoly: https://www.diamondportfolio.com.au/investor-centre/market-information/de-beers-monopoly-broken/ ht

• Dahoon 6y ago
  No, but the sharing "partners" might as well be part of De Beers as diamonds are still sold at prices way way above what they are worth. Like "selling iron for gold prices" expensive.
  • sukilot 6y ago
    How can an optional* non-functional luxury good be sold for more than it's worth? *Worth to your lady, not to you Economically, the diamond is a token of wastefulness that serves only to destroy value as part of the human mating ritual. Bitcoin for women, but even less liquid.
    • JMTQp8lwXL 6y ago
      A bitcoin for women analogy might be generous; one diamond isn't fungible for another one. There's sentimental value.