Mining

Mined diamonds have always been a con job. DeBeers has captured the entire market and the promoted the idea that for some reason a guy should spend about 3 months income to buy a rock that isnt even rare. Heck, there are hundreds of them on drilling bits. But they had effective advertising and there was no competition so they convinced millions of people to shell out big dollars for a very common polished rock. Its about time there was some rationality and people refuse to spend that kind of money anymore.

ps If you want to know the true "value" of a diamond try taking it to a pawn shop. Sure, your "appraisal" from the jewelry store says its $5,000. The pawn shop says, I'll give ya $45 bucks and a free Pepsi.