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Diamond sale rise in spite of Blood Diamond Jitters:
Industry increases advertising budget 22% to $50 million in Q3
By: Diamond World News Service
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Dec 9 2006 12:00AM
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Reference: 829  

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Pre-Christmas diamond jewellery sales have been continuing to rise despite the industry’s fears that the Blood Diamond film would skew opinion against diamonds during the biggest purchasing season in the year, according to reports.

The movie depicts the role diamonds played in funding the war in Sierra Leone during the 1990s. Fearing a backlash against diamonds, the industry boosted its advertising budget to $61.8 million in the third quarter, up 22 per cent from $50.3 million a year earlier, according to sources

The move seems to have paid off as diamond jewellery is already one of this season’s top sellers, report trade journals. Tiffany & Co. recently reported that its holiday sales have surpassed expectations. And this year, the period between Thanksgiving and Christmas could account for 20 per cent of annual sales, the newspaper reports.

However, even the Blood Diamond actors have been quick to point out that diamonds are playing an important role in the poorest of African countries.

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