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NEWS
WHAT ABOUT DE BEERS?

De Beers is a famous organization begun in the19th century by Cecil Rhodes, famous business man and patron of Oxford College. By 1889, it controlled 90% of the diamond production in Africa.

Later, through a complicated business arrangement, De Beers joined the government of South Africa and other large mining interests in the area to form a diamond cartel known as the CSO (Central Selling Organization). Therefore, De Beers itself is no longer an retailer, but a kind of clearing house selling to certain manufacturers/cutters and to wholesale buyers of stones. Because of their size, their reserve of diamonds, and their control of production, it is not exaggerating to say they are a major influence on price and markets. You might compare their function to the role of OPEC in the oil market. There are no “OPEC” gas stations in your city, and also you will not find a “De Beers” diamond outlet.

So, what does this mean for you as a customer? All the diamonds are coming from the same places. They move all over the world, and eventually someone cuts and polishes them. This has nothing to do with the original miners. De Beers may be familiar to you because it has established a brand name to promote diamonds in general. When you are looking for your diamonds, don’t worry if they are “De Beers” diamonds or not, because almost all diamonds come from them anyway.


 

TIPS FOR BUYERS


1. KNOW YOUR LIMITS. PROFESSIONAL BUYERS CAN TAKE DIFFERENT RISKS FROM PRIVATE SHOPPERS. EDUCATE YOURSELF.

2. BE AWARE WHO YOU ARE DEALING WITH. DEAL ONLY WITH WELL-ESTABLISHED BUSINESSES, AND DON’T BE AFRAID TO GET OTHER ADVICE BEFORE MAKING A PURCHASE.


3. SOMETHING THAT SOUNDS TOO GOOD TO BE TRUE PROBABLY IS. IF SOMEONE OFFERS TO SELL YOU A PRODUCT THAT WOULD GIVE A GREAT PROFIT ABROAD, WHY AREN’T THEY SELLING IT OVER THERE BY THEMSELVES

4. IT’S ALWAYS A GOOD IDEA TO TAKE YOUR TIME OVER EXPENSIVE PURCHASES. DON’T LET HIGH – PRESSURE SALES TACTICS MAKE YOU DO SOMETHING UNWISE. AND WHEN YOU DO BUY SOMETHING, ASK FOR GUARANTEES AND AUTHENTICATION IN WRITING (WITH A COPY IN YOUR LANGUAGE)

5. JEWELRY SHOPS MAY BE LOCATED IN GOVERNMENT BUILDINGS JUST LIKE RESTAURANTS MAY BE LOCATED THERE. THAT DOES NOT GIVE YOU ANY GUARANTEES ABOUT THE QUALITY OF THE FOOD OR THE JEWELRY.

6. MANY TOURIST COMPANIES HAVE VERY THIN PROFIT MARGINS. IMAGINE HOW IT IS THEY COULD INCREASE THEIR PROFITS?

 

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