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315 Ernest Oppenheimer wrote the diamond industry’s quiet rule in a private memo: the only way to raise a diamond’s value is to make it scarce — meaning deliberately reduce how many reach the market

Silicon Canals
Silicon Canals Editorial Team @ Silicon Canals · 06/20/2026 08:50 EDT

Ernest Oppenheimer wrote the diamond industry’s quiet rule in a private memo: the only way to raise a diamond’s value is to make it scarce — meaning deliberately reduce how many reach the market

In 1910, a young Ernest Oppenheimer wrote a private memo arguing the only way to raise diamond prices was to deliberately restrict supply. The doctrine built De Beers, shaped a century of engagement rings, and quietly underwrites how luxury still works today.

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