Locating the “Diamond District NYC Best Stores” for 2019 was not for the faint of heart. According to Jewelers.NYC lists and records, there are 1348 jewelry companies/stores (employing over 2500 jewelry staff – many of which are independent contractors themselves) in the Diamond District in NYC. While this number many not be exact – due to the opaque nature of the New York diamond industry itself, we believe our data is pretty close – it comes from several different sources.
Check Price and Quality at Our 2020 Top Rated Online Diamond Store: WHITEFLASH.COM
30 Day Returns | One Year Buyback | BBB Pinnacle Award Winner | Featured in the New York Times
Over $24 billion dollars worth of diamonds flow through the Diamond District in NYC every year – this is 90% of the US’s diamond supply. To put this in perspective, this revenue number is about the same revenue as the McDonalds Corporation; however, unlike McDonalds the NY diamond trade is about as secretive as any industry can get. Our job at Jewelers.NYC is to provide clarity to this unique and unknown group of operators so that you, the end buyer, can benefit. Better pricing, better quality and/or alternative options are provided to you on this site. With that as a backdrop, locating the “Diamond District NYC Best Stores,” takes a lot of work, particularly if we are paring 1348 stores down to the 10; however, we believe we’ve cracked the code for you. First let’s talk openly about the truth – what people fear when buying a diamond from an unknown jeweler, on a street that looks a little run down, with diamond hawkers outside beckoning you in, and a reputation for “buyer beware” embedded in the lore of conversations about Jewelers Row – you’re worried about getting swindled! We get it. While there are many jewelers in the Diamond District that are hard working, fair and honest, there are also some that are not. So the reputation above is not entirely unfounded. As you move through the district, from the 5th Avenue side to the 6th Avenue, the “presentation” changes. On the 5th Avenue side, less is more. It’s sunny, bright and big sandstone buildings with mega stores abound. But as you continue toward 6th, it gets darker (the buildings block the sun), the shops get smaller, and the people in the window looking back at you start to become part of the show. Women, sitting unusually close to the window start to become more attractive and jewelers start to look older and wiser. To add to this, diamond solicitors are outside signaling you to come in and “see their special diamonds.” Long story short – it feels a little like you’re being played…
Job number one was to deal with any obvious reputational issues. If there were any immediate horror stories, opaqueness, or other negative (or non-existent) information in our possession, the store was immediately taken off the list. This cut the number of stores in half!
From there we bifurcated the list again – starting with the Better Business Bureau (“BBB”) Ratings. If the store was not rated A+ by the Better Business Bureau at the time of this review, it was removed. Technically, the BBB does not allow their rating to be used for marketing, (which somehow runs counter to their willingness to provide a searchable rating in the first place). We respect this and did not use this as the final screen – rather just one of many. “A+ only” BBB ratings cut the list again, by an astounding 95%. This left 34 out of the original 1348 (i.e. only 2.5%!!!). Within the A+ category, we scanned again for customer complaints at the company’s individual BBB page. At the Better Business Bureau, in order to be rated A+ a store has to have very few, if any, customer complaints. And “unresolved complaints” have a significant impact on the rating. As a consequence, the A+ rating is given to only the best operators. To be fair to those unrated jewelers, a jeweler has to subject themselves to the BBB scrutiny to get the A+ rating; therefore, the absence of one does not mean the jeweler is untrustworthy; however, the existence of one says something very special about the jeweler.
Next we searched “non-industry” online reviews and social media. We checked YELP, Facebook, etcetera. These are less impactful than the BBB, because with advertising dollars it’s easy to rank well on Facebook and with focus it’s easy to rank well on YELP (i.e. only ask happy customers to provide a YELP rating – then give them a $100 14k gold necklace as a “thank you gift” once the review is posted). Still, YELP does give the opportunity for negative reviews and if we saw these, we weighed it much more heavily.
With “reputation” dealt with, we moved on to four other categories that most people care about: inventory, return policy, GIA certified diamonds, and of course the reason almost everyone goes to the Diamond District in NYC, price:
Check Price and Quality at Our 2020 Top Rated Online Diamond Store: WHITEFLASH.COM
30 Day Returns | One Year Buyback | BBB Pinnacle Award Winner | Featured in the New York Times
Phew, now that we got that out of the way, we’d like to introduce you to (in our considered opinion):
49 W 45th St #902,
New York, NY 10036
212-719-2888
http://antiqueengagementrings.com/shopping/
Better Business Bureau Rating: A+
YELP Rating: ★★★★★
YELP Respondents: 56
Facebook Likes: 11,249
Google + Followers: 6
Return Policy: 30 days for in stock engagement rings. Custom orders not returnable.
Although we can’t say their name 10 times fast, Leigh Jay Nacht is our #1 Diamond District jeweler. We love their 11,000+ likes on Facebook, 56 5 star YELP ratings and… the A+ BBB rating. Most importantly, their return policy is fair. If they have custom built the piece for you, then you own it. If it comes from their inventory, they will refund your money for 30 days. Pricing is good and we’re told their team is very helpful and friendly.
546 5th Ave Ste 700,
New York, NY 10036
212-921-8029
Better Business Bureau Rating: A+
YELP Rating: ★★★★1/2
YELP Respondents: 86
Google + Followers: 7
Return Policy: 30-day money back return policy on GIA diamonds
David S Diamonds has been in business for over 15 years. The store offers a 30-day money back guarantee on GIA certified diamonds, and has the best hours of the 10 Best Diamond District Stores (including Saturday hours – 11:30 to 5:30). Selection is good and they put their inventory on their website. They didn’t get straight 5 star ratings on YELP like the others, but the two customer’s reasons seemed a little petty to us. It is this reason we rate them #2 instead of #1.
15 West 47th Street
Suite #305 New York, NY 10036
212-921-9372
Better Business Bureau Rating: A+
YELP Rating: ★★★★★
YELP Respondents: 245
Facebook Likes: 12,298
Google + Followers: 173
Return Policy: Not found
If the return policy was obvious to us, ID Jewelry would have taken the #1 spot. ID Jewelry has been in business since 1986. This family owned business proudly displays their A+ Better Business Bureau Rating right on their website. Like all of the top 10, they offer GIA graded diamonds and even have their inventory (and prices) right online. We like that a lot – none of the others do this. Talk about price transparency! We can’t ascertain what their return policy is. It probably varies depending on the type of work done – so make sure you get it in writing.
45 West 47th Street
New York, NY 10036
212-575-1700
Better Business Bureau Rating: A+
YELP Rating: ★★★★★
YELP Respondents: 29
Facebook Likes: 704
Google + Followers: 1
Return Policy: 30-day money back
We like Iannelli Diamonds a lot. They offer a great selection of diamonds, have a 30 day money back guarantee, are rated A+ by the Better Business Bureau and have been in business since 1956. Their motto is “treat people right and they will return the favor.” Their reputation suggests that this is true, although candidly their motto did not affect our rating. Still, we love their reputation and very importantly, their 30-day return policy. Their YELP rating is five star, but the volume is light, which suggests that they don’t manage it at checkout like many of the others – this is probably a good thing.
590 5th Ave Fl 15,
New York, NY 10036
(888) 983-9588
Better Business Bureau Rating: A+
YELP Rating: N/A
YELP Respondents: N/A
Facebook Likes: 46,417
Google + Followers: 369
Return Policy: 60 Day Money Back
If fancy colored diamonds are what you seek, Diamond Envy may have the answer. This jeweler specializes in colored diamonds, pink, yellow, blue, etc. – a total of 12 different colors across all different cuts, clarity and carat weights. They specialize in GIA rated diamonds and they make sure you know this just about everywhere you turn. Located at the opening of Jewelers Row, Diamond Envy is the youngest of our Top 10 – launched in 2013. Their motto is “bringing colored diamonds to retail buyers at wholesale prices.” We love their specialization, A+ BBB rating, and 60 day money back guarantee. The Facebook Likes look impressive, but that could be a function of paying for likes as much as anything. We were a little surprised at no YELP ratings, which probably means this is not a focus, either good or bad, for Diamond Envy.
15 W 47th St – Window #1
New York, NY 10036
Phone: 212-302-9630
Better Business Bureau Rating: A+
YELP Rating: ★★★★★
YELP Respondents: 21
Facebook Likes: 641
Return Policy: see below
Albert’s Fine Jewelry is one of the most well respected diamond dealers on Jewelers Row. This Diamond District NYC jeweler has been in business since 1986, and during that time has built a solid reputation with access to amazing product. We think we can infer a money-back return policy (less a 5% restocking fee) on non-custom orders and a no return policy on customer orders, but we could not find the words “money back” on the website, so we can’t be sure – you should ask about this. Still Albert’s Fine Jewelry has a great reputation and a loyal fan base in the industry.
580 Fifth AvenueSuite 349
New York, NY 10036
212-840-1417
Better Business Bureau Rating: A+
YELP Rating: ★★★★★
YELP Respondents: 14
Facebook Likes: 23,438
Return Policy: 30-Day Money Back – minus restocking fee
MDC Diamonds is the most “searched” jeweler on our site. This statistic alone means they are doing a lot of business. We like their selection, price and GIA diamonds, of course like the others-MDC has an A+ Better Business Bureau Rating, and five stars on YELP. Their respondent number is low, but good – which means they don’t manage YELP. They have 23,438 Facebook likes, which means they probably do manage Facebook. This is fine – the more likes a jeweler has the more viewers when they post articles.
581 5th Ave – Penthouse: Fl 6
New York, NY 10017
888-888-3321
Better Business Bureau Rating: A+
YELP Rating: ★★★★★
YELP Respondents: 6
Facebook Likes: 13,443
Google+ Followers: 1
Return Policy: 14 days money back for non-custom work. Custom work not returnable. 5% restocking fee for rings resized. Amex charged returns 5% restocking no matter what.
Located at the opening of the Diamond District, Liori Diamonds has a lot to offer. They specialize in “vintage inspired” diamond rings and jewelry, at what they describe as “exceptionally competitive prices.” Like the others, they offer GIA diamonds as well as AGI and EGL graded. While the other labs are part of what we call “the group of 5” we recommend sticking with the GIA diamonds unless you have a compelling reason not to. Liori offers a wonderful collection of black diamond engagement rings if that is of interest to you.
15 West 47th St. 10th FL. Suite 1000,
New York, NY 10036
800-818-8386
Better Business Bureau Rating: A+
YELP Rating: ★★★★★
YELP Respondents: 10
Facebook Likes: 10,300
Return Policy: 100% refund within 30 days – no restocking fee.
DreamStone specializes in engagement rings and has been in the same store in the diamond district for over 10 years. The business has an interesting history – it evolved from three generations of diamond jewelers to become what it is today. We love their return policy, their pricing looks competitive and they have something quite unique, a positive experience reported to the BBB (normally when people go to the BBB, it’s because they are mad, not happy). While Dreamstone is ranked #9, we could have been convinced to put them in the top five if our ranking model was calibrated slightly differently (if we included free priority shipping, gift boxes and wrapping they would have shot up to #3 or #4). They offer GIA graded diamonds, and a lifetime warranty.
15 W 47th St – Unit 2
New York, NY 10036
http://www.solitairecreations.com/
(212) 840-2209
Business Bureau Rating: A+
YELP Rating: ★★★★★
YELP Respondents: 10
Facebook Likes: 161
Return Policy: Not Listed
Solitaire Creations is a little more subdued in their advertising than many of the others – we presume they do business the old fashioned way – through referrals. They have been in business since 1983, and are a member of the 47th St. Business Improvement District – established in 1997 to unite reputable diamond merchants who will abide by a code of conduct. They are rated A+ by the BBB, and have a good reputation in the diamond trade. Like the others they offer GIA diamonds. —– So there they are – the best-of-the-best (in our humble opinion). Please note that with 1348 stores, competition among the top 10 is bound to be tight – it’s a lot like the Olympics – hundredths of a second determine the victors, and another day could have yielded a slightly different result. This means if you see one you like, and they are not #1 you should go see them anyway. Good luck on your journey – it’s an exciting one. We hope this will give you a massive head start. Make sure you do your own due diligence 1) ask for referrals, 2) compare/check prices, 3) confirm return policies, etc. before you buy.
Check Price and Quality at Our 2020 Top Rated Online Diamond Store: WHITEFLASH.COM
30 Day Returns | One Year Buyback | BBB Pinnacle Award Winner | Featured in the New York Times
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JW
If you would like to be considered for our “Diamond District NYC Best Stores – 2020”, please email us your information. Please provide: your store’s history, specialization and overall story, and as much of the following as possible:
Send the information to: Directory@Jewelers.NYC. We will reply with additional questions after we’ve had the opportunity to review your submission.