Diamond Wholesalers Hope a New Movie Doesn’t Hurt Sales

There are a lot of jewelry wholesalers who hope the effects of this story do not last forever.

A new movie out this week has people in the diamond business worried they are about to take a big sales hit.

The film is called Blood Diamond, and stars Leonardo Dicaprio. It tells the story of the fight over diamonds in the African nation of Sierra Leone as the cause of civil war in the 1990s.

The diamond industry argues the depiction that diamond sales fund wars and violence is inaccurate.

“Maybe it's very good timing for the movie to come out, because of the Oscars, but for us it is bad timing because coming on in the next year, February, so it's bad timing for us and yes we are afraid that it could affect the public, and that the consumers minds when they decide whether or not to buy diamonds,” explained Philip Glass, diamond industry spokesman.

A new system was put in place in 2002 to ensure diamonds do not come from a conflict zone.

The watchdog group that oversees that system says conflict sourced diamonds now make up less than one percent of all gems on sale.

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