Rough diamonds are found primarily in Africa, Australia, and the Soviet Union; they are not notably rare. At present, 80-85 percent of the world's supply of rough diamonds is controlled by the DeBeers Cartel. The cartel distributes its supply of rough diamonds through four brokers. The brokers then sell presorted boxes of diamonds to some 150-200 dealers, known as sight holders, during ten viewing sessions, or sights, held in London each year. Most U.S. sight holders are members of the New York Diamond Dealers Club (DDC). At a sight, a dealer is given a box of diamonds and informed of its price. This price is nonnegotiable. If the dealer decides not to purchase his box, he will not be invited to subsequent sights. Consequently, a sight holder will rarely decline to purchase his box,

Lisa Bernestein, Opting out of the Legal Sys…, loc. 21