I've known about this monopoly for a while, and so has she. Heck, one of the first movies we watched together when we first started dating 7 years ago was Blood Diamond. Here's the conversation we had while in the jewellery store tonight.
Me: "Sweety, I really don't want to buy you a diamond. I really would rather buy you something that at least has some more value associated with it, like a sapphire."
Her: "Well, I've always pictured a diamond ring. That's what everyone gets."
Me: "Well, what do you like about the diamond that the sapphire doesn't give you?"
Her: "I like the sparkle."
Me: "Ok, that's fair. What about moissanite? (Link: http://en.wikipedia.org/wiki/Moissanite) It's supposedly even more sparkly and brilliant than diamonds."
Her: "What's it made of?"
Me: "You know how diamond is just carbon? Moissanite is silicon and carbon in the same type of crystal structure."
Her: "And it's natural?"
Me: "Well, it can occur naturally, but it's extremely rare. So the ones you buy are usually created in a lab, but are more brilliant than a diamond, but actually cost less. I can apparently get a 1.5 carat stone for $800."
Her: (annoyed) "I don't want something fake!"
Me: "Oh, so it's not about the sparkle then?"
I swear, De Beers has probably pulled off the greatest marketing stunt in the history of humanity. The fact that it's so ingrained in our minds, to the point where a smart, educated, and informed person like my girlfriend still wants a diamond even after knowing all the issues with them, is fascinating.
Honestly, as a community of people in the startup ecosystem, we could stand to learn a thing or two here.