Why are diamonds so valuable?

GOLDMINE Its all about business
Why are diamonds so valuable?

Through advertising and the help of Hollywood, diamonds have become a symbol of wealth and undying love. A cunning campaign of selling only a fraction of the diamonds pulled out of their
South African mines helped DeBeers create the appearance of rarity, driving prices up. The truth is that diamonds aren't really rare at all. At the end of the 20th century, other companies found diamond reserves through the use of satellite technology, opening the market a bit. However, DeBeers, which holds a large warehouse of uncut diamonds, still controls 75 to 80 percent of the rough diamond market.
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