The holiday season seems like prime time for new engagements, but have you ever wondered why brides-to-be receive diamond engagement rings? Let’s dig around for some answers.
While engagement rings have been around for centuries, diamonds are a fairly late addition to the party. For many years, there simply weren’t all that many diamonds on the world market, so diamond engagement rings were pretty rare. The rock Archduke Maximilian of Austria gave to Mary of Burgundy in 1477 was an early exception.
Despite that high-profile ring, things stayed pretty quiet on the diamond front through the late 19th century.
In the 1870s, though, miners began discovering huge veins of diamonds in South Africa, and ice started flooding onto world markets. Diamonds had quickly gone from being a scarce gem to a pretty common commodity, which was bad news for everyone in the diamond business who wanted to fetch high prices for their wares. These mine owners realized they would have to be clever if they wanted to keep getting top dollar for an increasingly common gem. Needless to say, it didn't take long for diamonds to be included in the marketing plan for engagement rings.