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1-billion at the wholesale level in 1979, a nearly hundredfold increase. Need More Info? to the work of the now 86-year-old American investigative reporter, Edward Jay Epstein, this story of the reasonably recent development of the diamond ring as quintessential to the engagement routine, is one that is easily accessible to all who may question how it became the ultimate sign of love and intent to wed, that much of us unquestioningly accept it to be.

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In it, Epstein takes an extensive appearance at how, upon the discovery of diamonds in South Africa, the British colonist investors behind the mines would go on to establish De Beers Consolidated Mines into a cartel that, throughout the 20th century, generally created a monopoly that fixed diamond prices and managed the around the world market for diamonds.

This deliciously long read focuses in part on the advancement of the marketing technique that would take the ancient custom of using an engagement ring typically and most reliably traced back to ancient Rome and turn it into a universal tradition. In a world that probably still continues to be shaped by marketing and popular media, that now nearly 40-year-old post is worth reviewing; if not every year, then a minimum of every generation, not just due to the fact that of Epstein's deep dive into the development of the contemporary engagement ring, however likewise as an insightful appearance at the early usage of some of the marketing techniques that victimize our need to belong, which continue to be utilized today.

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According to the book,, "the custom of diamond engagement rings happened through Maximilian I, archduke of Austria (1459 1519), who provided a diamond ring to Mary of Burgundy (1457 1482) in 1477." Over the following centuries, diamonds rings continued to grow in appeal and feature on the digits of the upper class and the well-off.

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That would change with the late 19th-century discovery of diamonds in South Africa and the establishment of De Beers Consolidated Mines. And that is not all that would change. A number of historians and academics have actually argued that the discovery of diamond mines along with the gold mines, laid the ground for apartheid.