What is the Diamond District in NYC?

Why is it called Diamond District 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. … So, they began to collectively relocate to uptown Manhattan.

Is it worth going to the Diamond District in NYC?

Diamonds are not like other consumer goods, you don’t get genuine ‘sales’ or cut prices. Therefore, if it seems like an amazing bargain, too good to be true, it’s almost certainly worth avoiding. … This is particularly true in the NYC Diamond District where the focus tends to be on sales at the expense of education.

Is the Diamond District cheaper?

Are the Prices at the Los Angeles Diamond District Cheaper? To put the nail into the coffin, the reality is that prices at the Los Angeles diamond district aren’t cheaper. This is due to the higher overheads (expensive rent and salaried salespeople) incurred for brick and mortar operations.

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What streets is the Diamond District?

The Diamond District is located on West 47th Street between Fifth and the Avenue of the Americas ( Sixth Avenue ) in midtown Manhattan.

Who owns NYC Diamond District?

Most of the shop owners and workers are Hassidic Jews, Russians or Indians (three groups that dominate the diamond trade on the wholesale and manufacturing level as well). Walking down the street you will also notice plenty of armed guards for the shipping companies and police officers patrolling.

Who owns the diamond district?

Todd Schusterman

I was born into a family who had spent their lifetimes in the jewelry business. My Grandfather opened his first jewelry store in 1919. My Father followed in his footsteps, took over his family business in the mid 50’s, and ran the company until his death in 1987.

Are Blue Nile diamonds real?

Blue Nile diamonds are absolutely legit. … Blue Nile has over 120,000 diamonds available on their site – not as much as their competitor James Allen, but certainly enough to guarantee you’ll find something that fits your taste and your budget.

How does the diamond district work?

The Diamond District is the world’s largest shopping district for diamonds. In fact, over 90 percent of the diamonds that come into the United States go through New York first, mostly through the Diamond District. There are wholesalers and retail jewelers, and thousands of independent jewelers.

Are Benz diamonds real?

All our diamonds are 100% real and natural mined diamonds. Every ring comes with certificate of authenticity additionally; most of the engagement rings come with a diamond report as well.

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Why do labs grow diamonds?

Lab-grown diamonds offer great value, as they are more affordable than natural diamonds of comparable size and quality. These cultured diamonds can be almost 30% less expensive than mined natural diamonds. The mined diamond industry is largely controlled by diamond cartels and filled with middle-men.

How do you become a diamond dealer?

To become a well-regarded diamond dealer it is best to be trained by industry leaders and to acquire the credentials that label you a professional diamond dealer. Take courses at the American Gem Society. The AGS is a not-for-profit trade association for those in the fine jewelry business.

How do I get GIA certified?

The most convenient way to obtain a GIA Diamond Grading Report, Diamond Origin Report, Diamond Dossier® or Diamond Focus Report is through a local fine jewelry retailer. Retail jewelers are uniquely qualified to obtain a GIA report and to explain its contents.

Is it OK to sell your engagement ring?

The bottom line is that selling your engagement ring is a perfectly valid option. As engagement rings can cost hundreds to hundreds of thousands of dollars, you want to ensure that you sell your ring to a reputable buyer who can give you the best offer.

Is Kay Jewelers good quality?

They are considered to be one of Sterling Jewelers’ premium brands, however while the prices are certainly on the premium end of the jewelry spectrum, the quality of their diamonds is well below par.

How much do you spend on an engagement ring?

General Rule: You should spend at least 2 months salary on the engagement ring. If, for example, you are making $60,000 per year, you should spend $10,000 on the engagement ring.

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