Wednesday, February 28, 2024

Where Is The Diamond District In New York

Fourth Screen: A Critical Mass Of 45 To 5 Star Yelp Ratings

Secrets in the New York Diamond District

YELP is less important than the BBB criteria because YELP ratings can be gamed through advertising and giveaways. For example, if a diamond dealer has 100 YELP ratings: five one-star ratings, 10 three-star ratings and 85 five-star ratings, they will have an overall five-star rating on YELP. You will have to dig deep to understand that this store has 5 unhappy customers out of 100, because the volume of ratings overall is positive. Still, a store that actively cultivates its YELP ratings tends to do the right thing to get the almighty five-star review. A favorable YELP rating combined with the Better Business Bureau data gives a belts and suspenders check on trustworthiness.

New York Citys Diamond District: An Insiders Guide

Located in the heart of New York Citys Midtown Manhattan, the Diamond District is known worldwide as one of the premier destinations for anyone buying or selling diamonds and other precious stones. The Diamond District is also known for being the largest shopping district for a plethora of precious stones and other rare pieces.

In this blog post, let Luriya guide you through the ins and outs of the Diamond District and some tips to get the best possible price.

The Diamond District is home to jewelry buyers and sellers that deal with anything and everything diamond, gold, and jewelry related. The street is open within regular business hours but keep in mind that it would still vary from store to store. Generally speaking, businesses are open as early as 8am and may stay as late as 6pm to 7pm.

If you absolutely have no idea about the Diamond District, it can be particularly daunting for first-time goers. Thankfully, we have invited Luriyas expert appraiser, Fima Kandinov, to help us with tips to help you navigate this busy street.

Tip #5 A Reliable Grading Report Is A Must

One common trick jewelers employ to misrepresent their diamonds is through the use of appraisals with overly inflated values and shady grading certification. Bear in mind that NOT all grading certification are made equal.

If a vendor tries to sell you a diamond with a certificate from dubious gemological labs like EGL, GAI, IGI, GALA and etc, I can assure you that the grading standards are poor and the diamond will be overgraded in its true properties. That is to say, a G VS1 diamond graded by an unknown lab would likely be a J SI1 if the same stone was graded by GIA. Youll end up paying more for a diamond that only sounds better on paper!

In order to know exactly what you are buying and that the diamond is being represented correctly, you should only consider diamonds graded by GIA or AGS .

Heres how an authentic GIA grading report looks like.

Heres how the platinum light performance report from AGS looks like.

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Nomie Offers The Best Quality For The Price

While you’re envisioning the perfect high-class bracelet to upgrade your wardrobe, consider shopping with a jeweler who provides handcrafted jewelry at an affordable price. Noémie, believes the excellence of your favorite high-end jewelers can be yours at a fraction of the cost.

Although our online shopping experience is seamless for your convenience and comfortability, you may desire to browse a collection at one of our on-site locations in New York or Los Angeles. Rather than being manipulated into a purchase or being treated in the undignified manner you might encounter in the diamond district, we want to offer you a more welcoming environment for examining exceptional jewelry.

What It Is Like Buying Diamonds In The Diamond District

Big Apple Secrets: New York Diamond District, Part 1

If you decide to shop in the Diamond District, prepare yourself for a shopping experience like almost no other.

1. Be Ready for High-Pressure Sales

If youre one of those people who feel guilty when you dont buy something, or you like to take your time to consider before purchasing, or you just like to browse, this may not be the place for you. With so many dealers competing for a sale, you might be easily overwhelmed. High-pressure tactics may include offering you something at a discount but only if you purchase it right away.

2. Know Your Stuff

Try to get somewhat familiar beforehand with color, clarity, cut, and carat weight, the 4Cs of diamond quality standardized by the Gemological Institute of America .

3. Read Reviews

Check out reviews of different sellers. Make an appointment with any you like.

4. Be Savvy

Dont mention your budgeted price upfront, wait until a dealer offers you a price. You may even want to haggle, a common Diamond District practice.

5. Get An Authentic Grading Certificate from the Vendor

Buy diamonds that have been graded by the GIA. This is the most accurate and reputable diamond grading laboratory on the market.

6. Get It in Writing

Absolutely get a sales slip with any return policy written on it. Maybe reconsider if the owner doesnt have a return policy.

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What Time Does The Diamond District Nyc Open

The Diamond District typically opens later than other commercial districts in New York. The shops and booths will typically open at 10:00 am and close at 5:00 pm. Some stores will be open earlier and close later, but in general, these are the best times to come and visit the Diamond District.

If youre not from New York, try to avoid lunchtime as all the business people will be on the street for lunch.

During December you can expect the stores to open earlier and close later. Dont forget to factor in the traffic and additional pedestrians during the winter months.

How To Ensure You Don’t Get Burned:

Comparing characteristics and prices is the only way to determine if an item is worth the price. For that reason, you should compare similar things in different places. If you notice price differences, ask the jeweler to explain the reasons.Good salespeople should be able to explain why their product is more expensive. You can always ask for more information if they don’t answer your questions.47th Street is an excellent place to compare prices because many independent jewelers are on the same block. Ask for a look at the loose stones. It would be best to ask about color, cut, and clarity .

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Tip #9 Use Your Credit Cards

Shops along the NYC diamond district dont accept cheques and prefer to deal in cash transactions. In my opinion, it is best to make purchases using an American Express credit card. In the event of a dispute, AMEX usually takes the side of the customer and may help you perform a charge back to get your money back.

We Buy Diamonds New York In Any Condition For Highest Payout Prices

Tour the Billion Dollar Diamond District in NYC

Sell Diamonds New York to the most established gold and diamond buyers in the industry. We buy diamonds in New York for a long time now, so we can appreciate the variety of gemstones which come our way. It is understandable that when a person makes decision to sell diamonds new York style which is come in, show your diamonds, hope you dont get cheated out of a real cost for worth of your diamonds, decide if this is the right place to sell etc, they are having a hard time proceeding with the transaction. Rest assured that at our company you will be treated with honesty and respect for your mixed feelings. We do offer the highest payout in the Diamond District of New York for your diamonds, guaranteed.

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Shaya Nyc Fine Handcrafted Jewelry

Shaya NYC Fine Handcrafted Jewelry is a w Yrk wlr. Dsgnr h hubd hndrfts each , sgns thm, and nms them after the lnts who nttd the dsgn. h’s rrngs, nkls, brlts, and rngs are made from a vrt of rus mtls, md mtls, and gun mtl and are mnt to be wrn as dtm as wll as vnng ssrs.

The New York Diamond District:

In the 1920s, Maiden Lane rents rose dramatically as financial and insurance firms moved into the Financial District. The transition to move uptown began as a result of the high rents. After Nazi Germany invaded Belgium and the Netherlands, the area gained prominence, forcing thousands of Orthodox Jews working in the diamond industry to flee Amsterdam and Antwerp to settle in New York City.They remained a significant influence in the Diamond District after World War II. In 1941, the Diamond Dealers Club also moved up to midtown. The DDC is an exclusive club that acts as a de facto diamond exchange and private synagogue.

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The District Generates More Than $24 Billion In Annual Sales

Did you know that more than 90% of diamonds imported into the US market actually pass hands through the district before making their way to other retailers down the pipeline? Not coincidentally, one of worlds largest and oldest diamond exchange, the DDC, also resides at the heart of the district.

Whether you are a serious shopper or someone whos just browsing out of curiosity, youll find an overwhelming selection of diamond jewelry on display. In todays post, we are going to take an indepth view into shopping at New Yorks famed Diamond District and offer tips to help you navigate the pitfalls of spending money there.

Jewelry Appraisers In The Nyc Diamond District

Diamond District : deal Diamond District building fell buyer failed ...

It is very important to ensure that any diamond or jewelry that you purchase is genuine. If your seller doesnt provide you with an appraisal, we strongly recommend bringing all purchases to get appraised. In addition, for insurance purposes, you will need an appraisal. The NYC diamond district has a few appraisers on 47th street who will accept walk-ins and give you proper service.

Here are some of the appraisal companies that we recommend:

1. Universal Gemological Lab 71 West 47th St #1002Phone Number: 921-3324www.uglinc.com

The Universal Gemological Lab is open from 10:30 am 5:30 pm. Their service is fantastic and everyone is so friendly, but more importantly, they are experts. Theyve all been trained by the GIA and their assessments and appraisals are accurate.

Another notable advantage of the UGL is its proficiency with vintage jewelry. We send so many of our vintage rings to them due to their expertise in all things old.

2. Gemological Appraisal Industry30 West 47th St #505Phone Number: 575-2071

The Gemological Appraisal Industry is also located in the center of 47th street and will be able to assess your diamond or jewelry.

3. Gemological Appraisal Laboratory of America580 5th Ave #2906 Phone Number: 606-2769

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Are Diamonds Cheaper In The Diamond District

The price youll pay for a diamond in the Diamond District depends on a lot of things. Do your research before visiting a jewelry store or wholesale supplier. You want to know what to expect, what youre looking for, and what a reasonable price might be. If youre uncertain where to start or dont have the time to do research, its best to visit a trustworthy and respected Diamond District jeweler to get honest, helpful assistance.

Because of the wide variety and large quantity of diamonds available in the Diamond District, it is possible to find a diamond here at a lower price than you could elsewhere. In addition to price, you can be sure that the quality and selection of loose stones, diamond jewelry, or gemstone pieces youll find in the Diamond District in NYC is superior to anywhere else in the country.

New York Diamond District 10 Best Stores For 2020/2021

15 W 47th St #305, New York, NY 10036

888-921-9372

  • Better Business Bureau Accredited? Yes
  • Return Policy**: 30 Days
  • Interviewed by Jewelers.NYC? Yes

When we went to the ID Jewelry store to meet management for our first review back in 2017 we were impressed. ID Jewelry had made our Top 10 list and the business family atmosphere was unique for Jewelers and the raving fans on YELP pointed to the fact that this was ones of the , but were they number one? At the time they were ranked #3 on our list and Yekutiel Davidov questioned why they were not number 1 . At the time it was because their return policy was not obvious to us. A few days later their policy was put front and center on their website. Their business is has an A+ rating and is actually has a 5 star customer rating on the Better Business Bureau website. Getting an A+ rating is hard, but getting 5 customers to go onto BBB and rate the store? None of the others had this.

Its obvious to us that the team at ID Jewelry love what they do and do in fact put customers first. As far as their offering? Excellent. Stores that offer diamond engagement rings in NYC usually fall into two classes. Simple but elegant standardized settings or custom settings that boggle the mind. ID Jewelry has both. Make sure you checkout their store review here.

115 W 45th St #504, New York, NY 10036

212-719-2888

  • Return Policy**: 30 Days
  • Interviewed by Jewelers.NYC? Yes

45 W 47th St, New York, NY 10036

212-575-1700

800-818-8386

212-302-5000

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Important Jewelry Warning Signs On 47th Street

  • Important Tip. Make sure to only buy from a seller with lots of positive reviews. Please note that if the company dont have any Google or Yelp Reviews they probably deleted their accounts in order to prevent you from seeing their negative reviews
  • Dont buy jewelry without documentation
  • If a jeweler isnt happy to answer jewelry questions there is something suspicious
  • Do not interact with the jewelers who approach you on the street
  • Only buy jewelry from a company with a proper return policy and warranty
  • Never buy from a company that tries to rush you into the purchase, even if they offer you a great price to buy on the spot
  • Make sure that everything you agree upon is stated in writing on your invoice or receipt
  • If you have a bad feeling about the person selling to you, walk away

Online Vendors With New York Locations:

�ᴷ�� Walking NYC (Narrated) : Diamond District on 47th Street, Manhattan (November 11, 2019)

Consequently, we have more than 35+ years of experience in the diamond business. In that case, we know the industry’s intricacies inside and out.It can be fun to run around 47th Avenue and the Diamond District. However, the truth is that diamond prices depend on the stone’s characteristics, not where you buy it.Online diamond dealers offer some of the best diamond prices we’ve seen. If you want to see NY Diamonds in person, you can visit the following stores:

The NY Diamond District vs Buying Online:

Regardless of whether you buy a 47th Avenue Diamond in the NY Diamond District or you prefer to buy online, it pays to learn about diamonds before you buy.The One Minute Diamond Buying Guide from Nice Ice is one of our favorite tutorials. It provides a step-by-step blueprint that you can follow for diamond buying success.

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Where Is The Nyc Diamond District

While it sounds huge, the Diamond District actually doesnt take up much space. It runs on 47th street between 5th and 6th Avenue in Manhattan. You cannot mistake the entrance as you walk on 5th Ave. Two giant diamond motif street lights flank the crosswalk, signaling you have come to the right place, the jewelers say. The energy is palpable people rush up and down the street buying, selling, and making deals.

Even the Gemological Institute of America, which is the worlds foremost authority on diamonds, gemstones, and pearls, resides there. However, the District wasnt always in Midtown Manhattan. According to the Smithsonian, it began on Maiden Lane, four blocks north of Wall Street, from the mid-19th century until the 1920s. Then, wealthy banks increased rents in the area, subsequently forcing the District to 47th Street.

The History Of The Diamond District In Nyc

The history of the Diamond District in NYC began in 1795 on a Manhattan street called Maiden Lane. It was here that diamond merchants first established a base of operations to sell diamonds from all over the world to high society patrons. In the early 1900s, many financial establishments wanted a presence in the downtown area, and jewelers struggled to pay the ever-increasing rent. So, they began to collectively relocate to uptown Manhattan. Builders erected buildings on 47th Street that were specifically tailored to entice jewelers, allowing them to move with ease. This enabled them to re-establish a new area centered around the diamond and jewelry industry. By 1925, the Diamond District as we know it today was established.

In the 1940s, World War II and the invasion of many European countries caused countless individuals to flee to New York City to establish businesses, many of which included jewelry shops. Diamond District jewelers came from all over the world, including Amsterdam, Antwerp, Tel Aviv, and more. Over the last century, some things have changed about the Diamond District, but much remains the same.

The way diamond merchants still do business is surprisingly similar to decades ago, with a handshake as the official means of securing a deal. Although technology has advanced within the stores, diamond merchants from across the globe love to do business in the old-world barter type economy that continues to serve them well.

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