There was a time when diamonds were rare. That's not the case anymore. What's amazing is how successful de beers controlled the supply and, by effect, the price. They completely controlled it for at least 80 years. Looks like man-made diamonds finally broke the weakening lock and I doubt they will ever regain it. Eventually, they will fall to the point of cost of making or mining them plus a small margin. Name brands will be able to charge a premium but not what was possible when they had a monopoly. They are luxury items in the same way a designer bag is so don't expect to get your money back.