just a quick correction: the golden jubilee is the biggest cut diamond, but the biggest stone ever found was Cullinan, which weighed in at 3,106 carats rough.

De Beers doesn't really create scarcity anymore either. while they still have a rather impressive marketing arm, the days of the true cartel are gone. pretty much every mine out there is selling as fast as it's producing. the old days of stockpiling and releasing a dribble every now and then are gone.