Interview

Tom Zoellner discusses his book The Heartless Stone - a panoramic and unflinching look at the modern diamond industry which uncovers the secrets behind one of our most luxurious and costly status symbols.

Q: Why are diamonds such a big deal in America?
A: It’s now a $25 billion dollar business. Seven out of every ten American women own at least one. But as it turns out, the idea of a diamond as a popular luxury item is fairly new in this country. A magazine advertising campaign sponsored by De Beers created the consumer desire just a few years before World War II. They sought to make diamonds not just rare, but essential for every man seeking to get married. Famous painters such as Pablo Picasso and Salvador Dali were commissioned to create landscapes next to advertising text that had a strange fixation on death, of all things. But De Beers tried to plant this subtle idea that diamonds are a kind of shield against mortality. "Diamonds are the most imperishable record a man may leave of his personal life," said one of the ads. That’s part of the source for the famous slogan they eventually cooked up in 1948: "A Diamond Is Forever." A phony "tradition" was also established: a groom must spend two months’ salary on his wife’s stone. But this was not a global standard. British men were viewed as more stingy and were told to save one month’s pay. The...