There are over 2500 jewelers in the Diamond District of NYC. They sell everything from engagement rings to watch repair. In this article, we’ll show you how to find exactly what (or who) you’re looking for.
Step into a typical diamond store on 47th Street between 5th and 6th Avenue, (aka the New York Diamond District) and you will see dozens of merchants waiting behind their counters to talk to you. People come from far and wide to jump into this controlled chaos in hopes of finding the perfect piece of jewelry at a reduced price. This is understandable, fine jewelry is expensive and if one can save hundreds or even thousands of dollars, the trip to Midtown is worth it.
Let’s be honest, you didn’t come to the Diamond District to pay full price, so you will undoubtedly enter into some form of negotiation. A word of caution, the art of the deal was born with the merchants in Jewelers Row in 1820, and has been going strong ever since. Merchants have a variety of negotiation tactics that range from scribbling prices on an envelope with the actual diamond inside (this is called the cachet), to open displays of outright indignation when you quote a price – but take it light heartedly, part of the fun for everyone, merchant and customer alike, is the theater of the process. Still, there are a few tactics that you can employ that will make the diamond purchasing process far more enjoyable and make the outcome more in your favor.
Start by narrowing the field. References are good, but at the same time statistics show that many people feel guilty negotiating with their family or friend’s jeweler. If this is you, then include them as one of several, but go to them last. You’ll still need a few more jewelers to speak to, just to keep everyone honest.
New York Jewelers Directory’s targeted search function was designed with Diamond District NYC in mind. Go to the spyglass on the upper left of the page. Click it and then select Manhattan – Diamond District from the listing location drop down menu. Then select the listing category (such as earrings, engagement rings, etc.) that represents your area of interest. Still too many jewelers to choose from? We suggest that you narrow it further by selecting the featured listing option. These listings tend to contain the most interest jewelers because frankly they pay more for their listing to ensure they get your attention. You’re not quite ready to wander over to Midtown yet. You need an independent pricing point so that your starting number is not too high.
There are a number of online stores, but we’ve found that either JamesAllen.com or WhiteFlash.com provide great pricing indications on diamonds. Both sites have diamond pricers, and each should be reasonably close to the other in price for the same cut, color, carat and clarity (Subscribe to our free mini-ecourse below, Diamonds 101, if you want to learn more about each of these elements).
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
Now you’re ready to go. Head over to the Diamond District, talk to each of the jewelers, get comfortable with them, perhaps even let them know that you’ve checked prices elsewhere. Remember in the end you’re looking for the best overall deal. If their final price is similar to James Allen or Zoaras for a similar diamond then you probably will want to use them, if for no other reason then you can hold your actual diamond in your hand and ask questions before purchasing it. If they are wide on price then you can either keep looking or pick up your diamond online. At least at that point you will know that you’ve found the right deal.