Diamond Engagement Rings History and Evolution

What makes a diamond engagement ring so unique? It is a traditional symbol of love and a commitment to build two lives together. Strangely, however, the aura and halo around diamond engagement rings are not founded on such mushy and sentimental matters. It is a result of a marketing blitz by hardnosed businesspeople who wanted to sell the stones around the world. Surprised? Read on to know more about the history and evolution of diamond rings.

History of Engagement Rings

The custom of engagement rings goes back to ancient Egypt with rings made of papyrus and reeds. The endless circle was considered to be a representation of true love with the hole seen as a gateway to prosperity. The Romans continued this tradition but added exchange of beautiful jewellery to it.  

The first recorded history of a diamond engagement ring goes back to 1477. Archduke Maximilian asked for the hand of Mary of Burgundy with the diamonds on a ring set in an “M” shape. Diamonds in those days were rare and very expensive even by the standards of European aristocracy. It is therefore not surprising that the Archduke went bust and at the end of his reign was in debt to the tune of 10 years of net income.  

The DeBeers Diamond Cartel

The popularity of diamond engagement rings took off after the discovery of substantial diamond reserves in South Africa in the 1870s. With supply on a high, everybody could afford a diamond now. However, that was not good from a business perspective as prices stayed low. The British businessmen who operated the mines then came up with a brilliant idea. They decided to create an artificial scarcity for diamonds which would push up prices. The first diamond cartel DeBeers Consolidated Mines was formed, and within ten years they had taken control of 90% of the world’s supply of diamonds. Hence, not only could they control output, they could also manipulate prices as well.

That was not all. They had to find a way to drive up demand too. This led to the creation of one of the most effective ad campaigns in the history of marketing. It was conceived and implemented by DeBeers with creative content from the reputed ad agency N.W. Ayers. They followed a three-pronged strategy that played on the minds of the ordinary person–

• That gift of diamonds was the only way to show love for a woman
• A woman could measure the extent of the love of a man by the size of the diamond that he gifted
• To prove a lofty position in life and society, it was necessary to have a diamond on the finger  

Few know that the slogan “A Diamonds is Forever” was a creation of the DeBeers in 1940 and devised by them to convince people that only a gift of a diamond could genuinely show enduring commitment and love.

Diamond Engagement Rings as a form of Insurance

Around the time that DeBeers were going through their campaign in the 1940s, the USA began to slowly dilute the provisions of the existing “Breach of Promise to Marry” law which allowed a woman to sue her fiancé for breaking off a wedding. This made women financially vulnerable as most of them did not work then. After the law was softened considerably, women started asking for some other form of insurance against an engagement break-up. The massive campaign by DeBeers gave women just the insurance they needed in the way of a diamond ring.

Men too would less likely break off an engagement once they had invested heavily in a diamond ring. And if he did do so, the woman would have something like a financial buffer. Diamond engagement rings thereby became a stabilising factor for women and the critical reason behind the popularity of diamond engagement rings.

Buying Diamond Engagement Rings

There is no definite guide to buying a diamond engagement ring. What ultimately becomes the deciding factor are personal preferences. However, there are a few things to be taken into account. The 4Cs (Cut, Clarity, Colour, Carat) are important as is the reputation and goodwill of the jewellers. For instance, residents of Melbourne, Victoria will do well to browse through the full range of diamond engagement rings available at ADC Jewellery Store. Buying diamonds online is another option provided the e-store is well established in this business and has a good replacement policy