The story of the diamond engagement ring traces back to the Middle Ages, with diamonds becoming a status symbol. Early practices focused on individual purchases, but the 18th and 19th centuries witnessed the rise of elaborate marketing campaigns and auctions, increasing demand and driving prices. The industry’s structure has been shaped by a complex interplay of supply and demand, historically benefiting a small group of dealers and jewelers. Throughout history, the focus has been on selling the product, often involving significant compensation to key personnel.
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