VIDEO: Diamonds Are For Suckers
The news is crackling about a $50 million diamond heist in Brussels. Biggest ever! MEF’s Sut Jhally explains the false value of diamonds to Morgan Spurlock in this clip from Spurlock’s film, The Greatest Movie Ever Sold.
The story is perfect for a big budget Hollywood film. Look for it in a multiplex near you soon because, you know today there are dozens of agents scrambling to work out deals to convert the story into $50 million worth of ticket sales.
Diamonds grab our imagination. They are the archetype of wealth. They represent to us the highest order of value because of their rarity and beauty.
Except… while they may be beautiful, they are not rare. They’re pretty common. That $50 million number that’s being tossed around is based on hype more than anything else. What diamonds are is the quintessence of marketing.