Major cities all around the world have commercial centers dedicated to the wholesale diamond trade. Belgium has the Diamond District in Antwerp; India has the Bharat Diamond Bourse in Mumbai; Israel has the Diamond Exchange District in Tel Aviv; England has Hatton Garden in London; Los Angeles has the Jewelry District and Philadelphia and Chicago both have their own ‘Jewelers’ Row.’ None of these, however, can compare in size and influence to the Diamond District in NYC.
Shrouded in secrecy, the Diamond District in NYC (a.k.a. Jewelers’ Row 47th Street) sells more product in one year than Nike and Coca Cola combined. Yet for all its selling power, “the District” can be confusing, intimidating and financially devastating if the buyer does not know what he (or she) is doing.
CHECK PRICES BEFORE YOU GO TO THE DIAMOND DISTRICT IN NYC
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
Round | Princess | Marquise | Cushion | Emerald | Oval | Pear | Radiant
This single city block, located on 47th Street between 5th and 6th Avenue, is home to over 2500 shops and stores located on the street below and in the office buildings above.
The First Diamond District in NYC – Maiden Lane
The modern Diamond District in NYC traces its roots back to Maiden Lane, located on the Southern tip of Manhattan, in 1795. Post the Colonial war many jewelers came together to form a small consortium where New Yorkers knew they could go to buy jewelry. The area grew very slowly over the next hundred years until the construction of 14 Maiden Lane, a 10-story office building completed in 1894 at a cost of $275,000. This building was built specifically for the diamond trade, but unfortunately, it actually wobbled when the wind blew! This required structural reinforcement on each level. 14 Maiden Lane was eventually fortified and ready for occupancy by 1900.
14 Maiden Lane was where the modern Diamond District in NYC first came to life. Its fireproof design and reinforced concrete flooring were ideal for heavy jewelry safes of the diamond merchants of the time. The 10-story building still exists today and currently stands as 9 loft apartments. Later other buildings such as the Cushman Building (1 Maiden Lane – circa 1900) were built. Eventually, Maiden Lane was home to over 300 jewelry businesses, and expansion continued to two additional NYC Diamond Districts.
The Second Diamond District in NYC – Canal and Bowery
The push to expand landed at Canal and Bowery in the 1920s and the Paramount Diamond Exchange became the epicenter of the second NYC Diamond District. This two-story building (pictured above) which has long since been demolished, was located on the corner of Canal and Bowery and had 33 diamond merchant stalls on the first floor. The second floor was dedicated office space for administrative jewelry operations and private wholesale transactions.
The Third Diamond District in NYC – Fulton and Nassau
In 1931 the expansion of the Diamond District continued to Fulton and Nassau Streets in downtown Manhattan. This was in the center of the Financial District which had experienced a major downturn because of the stock market crash of October 1929. This was the beginning of the Great Depression and office rents were cheap, so diamond merchants could set up headquarters in buildings designed for the financial powerhouses of the day. As the Great Depression subsided by the end of the 1930’s, rents went back up and Wall Street moved back in. Diamond merchants could no longer afford the cost. At the same time, there was a growing uneasiness in Europe as the Third Reich came to power in Nazi Germany. Hitler’s Army began invading other countries and Jews fled. New York saw a major influx of Orthodox Jews from the diamond trade coming from Amsterdam, Netherlands and Antwerp, Belgium in 1940 and 1941.
Present Day Diamond District in NYC
They came together in midtown Manhattan on 47th Street between 5th and 6th Avenue in the early 1940s. This non-descript section of NYC had many unoccupied office buildings – still a casualty from the Great Depression, and as such was far less expensive than the now pricey downtown area around Wall Street where the mega Investment Banks had moved back in.
Eventually the other Diamond merchants followed, and the modern day 47th Street Diamond District in New York City was born.
International Gem Tower
Today the NYC Diamond District is anchored by the International Gem Tower (IGT) at 50 West 47th Street. The IGT is home to the Gemological Institute of America, the IGT Shopping Mall and the famous Diamond Dealers’ Club. The Club maintains its trading floor in the tower. The Diamond Dealers’ Club is where the bulk of dealer to dealer trading occurs among its 1800+ members. Most of these diamonds are distributed throughout North America. Some also find their way into the stores and kiosks on 47th Street…
For us mere mortals, all of this means a deal can be found, but the consumer needs to be educated and prepared to negotiate when visiting 47th Street.
Read about our suggested Top 10 Stores of the Diamond District in NYC here.
]]>CHECK PRICES BEFORE YOU GO TO THE DIAMOND DISTRICT IN NYC
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
Round | Princess | Marquise | Cushion | Emerald | Oval | Pear | Radiant
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Best Jewelry Stores NYC Diamond District
If you are looking for diamond engagement rings, NYC offers more selection than any other city on the planet… and the Diamond District on 47th Street is epicenter of all the action. Before we name names in our “Top 10 Rated NYC Diamond District Stores Review,” it’s important that you walk onto Jewelers Row with your eyes wide open…
NYC Diamond District Stores
The NYC Diamond District operates within a set of rules that have not changed much since its 18th Century barter economy beginnings. Walk down 47th Street Jewelers Row and you will routinely see men dressed in traditional black Hasidic clothing with briefcases handcuffed to their wrists – moving from shop to shop and building to building. Look in these shops and you will see these Diamantaires (diamond merchants) with their jeweler’s loupes raised, examining inventory and speaking loudly in Yiddish, Russian, Hindi, Hebrew, Marathi, Rajasthani and other Slavic languages, occasionally locked in a heated negotiation trying to source a diamond for “their” special client.
It is precisely this barter economy that draws buyers to these NYC Diamond District Stores. There is something visceral about being in and around people haggling in an old-world way: hands flailing, voices raised and players walking away only to return a minute later to start again. In the heat of battle there will be a winner and there will be a loser (and of course that loser is not going to be you, right?!?).
Rules Between Merchants – NYC Jewelry Stores on 47th Street
Commercial law does not really exist among the merchants on Jewelers Row– at least as we know it. Intra-merchant transactions usually do not require credit lines or signed contracts, and a Diamantaire’s business and future is not based on standardized agreements, but on honoring their word. Keep your word and your network is secure and your financial future looks bright. Break your word to another Diamantaire and you are shunned, exiled, and pushed out of business by other industry participants. A lawyer is never called, it is just over…
JUMP TO TOP 10 STORE LIST
Outsiders Don’t Get the Same Treatment in the NYC Diamond District
Those same ‘honor rules’ don’t apply to customers like you. The trading bazaar rules that protect the Diamantaires from each other work because they are all quite knowledgeable, speak in ‘diamond shorthand’ and have decades of mutually beneficial financial interactions together. We are neophytes and, in comparison, know very little about diamonds. Unfortunately we are each a single transaction, they need several a day to make a decent living…
“Buyer beware” is screaming at you from every direction. If you are not careful you will pay full price, and bit more, and end up with less than you bargained for, ahem, so to speak.
Survival Rules on Jewelers Row
First, understand that many diamond merchants in the District are hardworking professionals that are licensed, bonded and generational – they work on referrals and an excellent product offering is how they get those referrals. However, there are also some that are very unscrupulous.
Here is how an unscrupulous diamond merchant can tell if he is dealing with an easy mark or a tough negotiator.
The first two questions they ask you are: “what size diamond are you interested in and what shape are you looking for?”
Everyone has an answer to these. 95% of the time the answer is 1, 1 ½ or 2 carats and 75% of the time it is a round brilliant cut. These are completely harmless questions to answer.
The third and far more dangerous question is: “how much do you want to spend?!?”
What about the three “quality” questions of color, cut and clarity that come before THAT question??
If you get asked the money question before the quality question your antenna should go way up… If it happens simply say “well that depends on the color, cut, clarity and grading lab. Perhaps you should show me a [1 carat, d color, excellent cut, VS1 clarity, round diamond] and we can go from there. Note that the 4 c’s contained in the [brackets] are metrics you should know about the diamond you want to buy before you go – of course yours will be different than the bracketed example.
Q: What if all I know is the size and shape of the diamond and what I can afford?
Well you are not alone – that is what makes a novice in the NYC Diamond District such an easy target. There are over 1200 combinations of color, cut and clarity for any sized “jewelry grade” diamond. Most people hope that their jeweler will recommend the best value for the price, size and shape. Unfortunately that is not always the case on 47th Street.
WhiteFlash Diamonds Pricing is Very Useful Here…
Whether you know your exact 4C’s or not, we highly recommend going to our #1 recommended 2020/21 online diamond store, WhiteFlash and input your size, shape and price. WhiteFlash is not the cheapest online diamond store (you don’t want cheap – you’ll discover strange things later with those diamonds) but WhiteFlash is very competitive and they will give you a good price benchmark to take with you to 47th Street.
Start with WhiteFlash’s A CUT ABOVE® Super Ideal Cut Diamonds (links two paragraphs below). These are the best of the best cut and have the “Triple Ideal” cut from the American Gemological Society Laboratory, a well respected grading lab in the diamond business.
WhiteFlash has a fantastic system to examine the cut of each diamond. Instead of just showing you a magnified 3D image, they show you the diamond using technology: the first is an Ideal Scope, which shows light leakage. The second uses an ASET scope, which “paints” the dozens of facets different colors depending on their angle to show you the precision of the cut. And the third uses a Hearts and Arrows Scope to show you the hearts and arrow pattern on round brilliant diamonds.
To find the price and 4C’s for WhiteFlash A CUT ABOVE® diamonds click a either the round or princess cut shape. Then anonymously enter your size and price range => ROUND | PRINCESS.
Note there are no ‘A CUT ABOVE®’ diamonds available for shapes other than round and princess cut, so you will need to fine tune the 4Cs yourself for other shapes – not the end of the world, just a little more work.
Ready??
Now that you know where the 4C’s of a high quality diamond in your price range should land, try this exercise again by adjusting the variables of color and clarity down (and up) one grade, but keeping the other variables constant. This will give you a good sense of price movement if your diamond dealer shows you a lesser diamond to accommodate your price. By the way, “cut” is the only man-made variable and because of this it has the least price movement. You should always get the best cut possible because cut determines the sparkle, scintillation, and light performance of a diamond and its movement up the quality curve is a bargain for what you get.
How We Decided on the Rating for the Top 10 Stores in This Review
Because of the reputation of some of the diamond dealers on Jewelers Row, we optimized for trust and client satisfaction. If you do your homework online* ahead of time, you will know what an excellent price for a high quality diamond should look like.
*online stores do not have significant overhead or personnel costs, and therefore tend to be between 20% and 40% less than traditional retail prices for the same diamond.
First Screen: Better Business Bureau, A+ rated and Accredited
There are over 1300 stores in the Diamond District in New York City. Some are at ground level and others are in the offices high above. Less than 50 of them carry a Better Business Bureau (BBB) rating of A+, and only about half of those are Accredited by the BBB.
Why is Accreditation Important?
A BBB Accreditation permits the Better Business Bureau to offer the store’s customers (i.e. you) dispute resolution services. BBB Accreditation also allows the store to display the Better Business Bureau A+ rating in and around their store, on their website and on their brochures. Financially, this means a lot to a jeweler in a ‘buyer beware’ market like the diamond market. Less than 3% of the stores in the NYC Diamond District have this accreditation and there is a dramatic increase in sales because of the trust factor of the BBB A+ logo. What is positive for you is that a BBB accredited store will defend the A+ rating even if it means dealing with the BBB if a customer is unhappy. A claim is almost always resolved and agreed by both parties, or the store will wear the scarlet letter of an unresolved claim. A few of these and the store loses its A+ rating. That is extremely bad for business.
Second Screen: Number of Complaints at the Better Business Bureau
A business can maintain its A+ rating and accreditation if the store is willing to resolve all customer complaints. But the fact is, customers who complain to the BBB are usually angry about a transaction and the store didn’t resolve the complaint before it was escalated. When doing the research for this report, we found stores in the “A category” (A+, A, and A-) had anywhere from zero to 55 complaints over the last 3 years. 55 complaints is a lot of resolution for an A category store! So, we added another layer, number of complaints.
Excellent – 0 or 1 complaint in the last three years
Good – 2 or 3 complaints in the last three years
Fair – 4 or 5 complaints in the last three years
If a NYC Diamond District store had zero or one complaint filed with the BBB in the last three years, we rated it excellent. Two or three and we rated it good, and four or five and we rated it fair. Over five and the store did not make our pool of candidates, even if all were eventually resolved.
Third Screen: Years in Business
A store that has been in business for decades has a stable referral base and a good reputation. It is exceedingly difficult to stay in business for generations if you are not doing the right thing by your customers. We show you how long each store has been in business on Jeweler’s Row.
Fourth Screen: A Critical Mass of 4.5 to 5 Star YELP Ratings
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.
Fifth and Final Screen: Allowed Us to Interview Them
Many of the Top 10 NYC Diamond District stores in our review have been interviewed by us. Those that were non-responsive when we contacted them, no matter how good their data, were moved down. We identify if we’ve talked with them in their store write up below.
GET YOU DIAMOND AT 20-30% OFF DIAMOND DISTRICT NYC PRICES
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
Round | Princess | Marquise | Cushion | Emerald | Oval | Pear | Radiant
Okaaaay…. Now that we have just given you a lot of information, let’s get to the reason you are really here. To find out the best of the best in the New York City Diamond District, in our humble (but considered) opinion!
New York Diamond District 10 Best Stores for 2020/2021
#1 ID Jewelry
15 W 47th St #305, New York, NY 10036
888-921-9372
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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 [best jewelry stores in the NYC Diamond District], 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 (which I loved by the way). 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 (from 5 reviewers) 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.
It’s 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.
#2 Leigh Jay & Co.
115 W 45th St #504, New York, NY 10036
212-719-2888
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Leigh Jay Nacht is know for his vintage and vintage design diamond engagement rings. Many of his rings have Old European Cut round diamonds or Old Mine Cut cushion diamonds. His offering is quite unique on Jewelers Row where diamantaires compete to provide the most brilliant flash at the lowest possible price. Leigh’s offering is simple, elegant, and takes us back to a time long ago every time we look at the purity of the LJN ring on the finger. Designs include Edwardian, Belle Epoque, 1930’s, Art Nouveau and Art Deco engagement rings.
Leigh’s offering may be the only one of its kind in the [Diamond District] and he was our #1 rated jeweler in our 2017 [Diamond District] Top 10 Review. He was close again in this review because his metrics have improved markedly. But the data pushed ID Jewelry way up. Still, if you are looking for a really special vintage old-world diamond engagement ring, you must speak to Leigh because he is clearly #1 in this category in the New York Diamond District and probably #1 in the United States.
Make sure you read his interview, store review and images of some of his wonderful offerings here.
#3 Ianelli Diamonds
45 W 47th St, New York, NY 10036
212-575-1700
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Iannelli Diamonds was founded in 1956 in Brooklyn, NY they have been a well-known and respected family business in the NYC Jewelry Industry ever since. The family moved to the NYC Diamond District in 1977 and they have been a strong influence in the diamond trade on 47th Street ever since.
Iannelli Diamonds specializes in Engagement Rings and is known for being straight-up, honest and easy to work with. When we met with the family this was quite obvious to us. Make sure you check out our interview with Joe Shovak here.
#4 Dreamstone
15 W 47th St #803, New York, NY 10036
800-818-8386
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Joseph David started the family business over 100 years ago. At some point Eli and Guy made the decision to leave the United States to join the family business in Johannesburg, South Africa. They worked there for several years with their father who ran a diamond factory in town. They learned the diamond trade from the ground up and opened DreamStone in 1998. It has been at the same location in Jewelers Row for over a decade.
Every Dreamstone piece is 100% custom made. This jumped out at us as we toured the showroom. Dreamstone also carriers its own inventory, sourced from the family business in South Africa. It’s not uncommon in the NYC Diamond District for jewelers to source diamonds from each another. Like virtually all diamonds on jewelers row, their diamonds are conflict free and GIA graded.
Read their interview with us here
#5 Jangmi Jewelry
44 West 47th Street, #GF16, New York, NY 10036
212-302-5000
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Jangmi is a new addition to our Top 10 list, and made it to the top half because of their overwhelming metrics. The Kim family owns Jangmi Jewelry and we could see them moving up further if we had the chance to meet them personally. They specialize in GIA graded diamonds, diamond wedding bands and engagement rings.
Jangmi is a member of New York Diamond Dealers Club. Membership in the NYDDC is rare among the diamond dealers on Jewelers Row and give the business access to a large pool of diamonds.
Please note their return policy was not obvious to us on their site.
#6 Ultimate Diamond Co
19 W 47th St, New York, NY 10036
646-366-8018
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Ultimate Diamond is a 3rd generation family-run and operated business dating back to 1959. Ultimate is known for customer service and value. They count professional athletes and famous celebrities as well as college sweethearts among their customers base. They provide clients with exceptional guidance and design assistance in making any beautiful piece of jewelry.
Ultimate Diamond was first started by the late Mr. Kung Sr. when he brought his family and burgeoning pearl business over to America from Taiwan in 1959. He grew the business steadily over the decades until his son took over the business in the 1980’s. They offer exclusively GIA graded diamonds.
#7 Bianca Jewelers
647 Lexington Ave, New York, NY 10022
212-308-6150
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Bianca Jewelers was founded by Manuel and Irma Benzer, Bianca Jewelers still resides in the same location from over 50 years ago which we find amazing.
Bianca Jewelers specializes in custom engagement rings and fine jewelry, and offering services such as custom designs, insurance appraisals, jewelry restoration and repair as well as watch repairs.
One point to highlight is that their return policy is shorter than most of the others, so make note of this when you are deciding your options.
#8 Roman Malakov Diamonds
1 W 47th St, New York, NY 10036
212-944-8500
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The Malakov’s started as watch makers just after World War II. After mastering the watch trade, the Malakov brothers embarked into rare gems. Over time, the Malakov brothers had then established themselves as experts of the “Russian cut” standard of diamond cutting.
The family has been in the jewelry business for over 100 years and have mastered all the aspects of the trade, including diamond cutting, jewelry-making, retail, and wholesale operations. They strive to provide the highest standards of quality and service using principles of integrity, loyalty and client satisfaction.
Please note return policy. They say 7 to 10 business days on their website, but it’s not clear in which circumstance each applies.
#9 MDC Diamonds
580 5th Ave #349, New York, NY 10036
866-239-4315
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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 a strong YELP Rating. Their respondent number is low, but good – which means they don’t manage YELP.
#10 With Clarity
38 W 48th St, New York, NY 10036
844-234-6463
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This is the first time we have included a diamond dealer in our Top 10 review that is more online than offline, so we necessarily put them near the bottom oN a more traditional list. Still we understand the world has changed and think their metrics warrant being one of the top 10 jewelers in the NYC Diamond District.
Their story is especially inspiring The moment Anubh Shah decided to ask Slisha to marry him, he knew not just any ring would do. He wanted something that spoke to their past together and the future they would share. Anubh Shah set out to create the perfect ring himself, piece by piece, finding the diamonds and band she would wear forever. He realized the impersonal and overwhelming struggle shoppers face with traditional jewelers.
Through their own journey, Anubh Shah and Slisha found a better process. Technology enabled 3D printing and bridging the best of online and offline shopping was the solution. Now they share that experience with the world, helping everyone find their perfect match with confidence and with clarity.
This year we turned over more stones than ever before and spent roughly 100 hours on this review. We hope you enjoy the contents and make sure you tell them that Jewelers.NYC sent you! We do not receive any fees from these 10 jewelers whatsoever, but they will know that you have read the review and done your homework.
One final point worth noting… The difference between the top 10 players on this list is small and a few more years in business, a personal interview with us or even a few more YELP five star reviews could have moved their position. These are the best of the best so being, say #10 on this list means being #10 out of over 1300 NYC Diamond District Stores. In other words take time to get to know each of these dealers offerings from the safety of your own home because they are all special. Also, really important – don’t forget to get a competitive benchmark price at WhiteFlash.com. Most importantly enjoy the process – this is a very special gift and deserves the attention that you have given it.
** Very Important – Return Policies
Please note that most return policies state that if a piece has been worn or altered in anyway the piece is usually not returnable. Most also say that “custom pieces” are not returnable. So, check if your custom work voids the return policy. It is also worth noting that return policies change over time, so what’s show as of the writing of this report may not be current when you go to the store. Finally, each store has different “exceptions” to its policy so make sure you review and understand your store’s current policy and limitations (and get it in writing) before you buy.
Thank you for reading our Top 10 Rated NYC Diamond District Stores for 2020 Review.
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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.
GET YOU DIAMOND AT 20-30% OFF DIAMOND DISTRICT NYC PRICES
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
Round | Princess | Marquise | Cushion | Emerald | Oval | Pear | Radiant
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…
Our Methodology – Reputation was Our Top Measure – As Easy as 1,2,3
1. Jewelers.NYC Site User Feedback and Proprietary Information
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!
2. Better Business Bureau – A+ Ratings Only
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.
3. YELP, Facebook, Etc.
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.
The Four Key Measures that YOU Care About
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:
- Inventory. You don’t want a small boutique that has only a few stones, you want a large one that has access to hundreds. The best stores in the district not only have access to their own inventory, but the inventory of other reputable diamond dealers as well – providing you with a veritable virtual inventory to select from.
- Return Policy. Stuff happens and sometimes you need to return the piece under consideration even if it’s perfect. When this occurs you don’t want a store credit, you want your money back. If it was easy to find on their website, we put their return policy in here. If it wasn’t, we highlighted that as well. Definitely confirm in either case (return policies change), because you never know if you’ll need to return something, particularly if the recipient does not know it’s coming!
- GIA Certified Diamonds. Some jewelers “poo-poo” diamond lab certificates, citing that they can spot better value than the diamond labs. They say that diamond certificates actually stop them from getting you the best deal because once the diamond is certified then their ability to “work the edges” disappears. While we’re sure this may be true, the opposite is also possible. Without a diamond certification, their ability to convince you the diamond is worth more than it’s value is also diminished. Net, net – we recommend that you go for the GIA certified diamond every time.
- Price. You want a deal in the Diamond District, this is why you are going there. Diamond District NYC’s best stores work on high volume and lower price points, so you should expect to get a number that won’t break the bank. On this point, it’s important to know what a good price actually is before you walk in. For that reason, we recommend that you go to James Allen’s Online Diamond Store Pricing Page. Believe me, you want that number before you go. James Allen is A+ rated by the BBB, offers prices about 40% less than retail (they have no stores or salespeople to pay for) and have a 30-date “no questions asked” return policy – so you will know what your fallback is! It’s one click to the best diamond price information on the web. We’ve even pre-sorted it for you by the most popular c’s for: 1 carat, 1½ carat, 2 carat, 2½ and 3 carat round diamonds (the links to these diamonds are both at the top and bottom of this article)… Write these prices and gradings down – then you’re ready to head out.
GET YOU DIAMOND AT 20-30% OFF DIAMOND DISTRICT NYC PRICES
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
Round | Princess | Marquise | Cushion | Emerald | Oval | Pear | Radiant
Phew, now that we got that out of the way, we’d like to introduce you to (in our considered opinion):
Top 10 – Diamond District NYC Best Stores – 2019
#1 Leigh Jay Nacht Inc.
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.
#2 David S Diamonds
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.
#3 I.D. Jewelry
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.
#4 Iannelli Diamonds
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.
#5 Diamond Envy
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.
#6 Albert’s Fine Jewelry
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.
#7 MDC Diamonds NYC
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.
#8 Liori Diamonds
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.
#9 DreamStone
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.
#10 Solitaire Creations
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 PRICES BEFORE YOU GO TO THE DIAMOND DISTRICT IN NYC
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
Round | Princess | Marquise | Cushion | Emerald | Oval | Pear | Radiant
Thank you for reading our Diamond District NYC Best Stores 2019 Review. Please make sure you tell them that Jewelers.NYC sent you!
Related Articles: Where to Find Wholesale Jewelry in NYC [Store Price Comparison]
JW
Attention Diamond District NYC Jewelers:
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:
- 3 references,
- BBB rating (if you have one), If not, please explain why you chose not to get a BBB rating.
- YELP link and other customer ranking links (if you have them),
- Google+ and other customer ranking links (if you have one),
- Your store’s return policy, and
- Any other information that demonstrates you stand out from the other stores in the New York Diamond District in terms of quality, reliability, customer service and customer service.
Send the information to: Directory@Jewelers.NYC. We will reply with additional questions after we’ve had the opportunity to review your submission.
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For example, if you are like a lot of people, you are considering buying either a 1 carat (100 point) or ½ carat diamond. So downsizing means that you buy a .90 carat or .45 carat diamond.
What’s the price difference? Well let’s look at the price at our favorite discount diamond online diamond store, James Allen (1)?
Diamond 1: 1.00 carat, VS1 clarity, G color, ideal cut: $6220
Diamond 2: 0.90 carat, VS1 clarity, G color, ideal cut: $4920
Diamond 3: 0.50 carat, VS1 clarity, G color, ideal cut: $1450
Diamond 4: 0.45 carat, VS1 clarity, G color, ideal cut: $1110
(1) It’s been our experience that James Allen is about 35-40% under retail prices, so if you are buying a diamond at a traditional brick and mortar store, expect the price to be about 40% more, but the price relationship to hold.
You can see from the price differences that a 10% decline in the size of the one carat diamond leads to a price difference of about 25%. The difference grows to 30% on the ½ carat diamond!
The most interesting part is that downsizing does not dramatically change the size of a diamond. Using the examples above, the width difference (again straight from James Allen’s website) is about 0.2mm difference. This is about the thickness of a piece of paper.
Why does it work this way? Because of supply and demand. Most people would rather buy a 1 carat diamond than a 0.99 carat diamond because in their mind it is not a full carat. Yet, almost no one can tell the difference when looking at the stone. Downsizing is a great way to save money and get a high-quality diamond in the process.
]]>Unknotting a chain is easy when you know the right technique. In fact, this method has been used by jewelers for hundreds (yes hundreds) of years and no one has come up with a better way to get a knot out of a chain.
Important: How Did You Get Here in the First Place?
Let’s be honest, you didn’t take your thin gold or silver chain and consciously tie it into a knot. In fact, chances are good that you picked it up one day, went to put it on and the chain was knotted. Your mind raced, and you immediately blamed (if only in your head) your sister, brother, friend, or cousin who wore it last. They of course denied tying it in a knot and, they probably did not, however what SOMEONE did was roll it up and put it in a pocket, bag, or other “storage” area where it was moving around – and it knotted. Now if this was a rope, nothing would come of it. You’d pull it out and it would be straight and immediately useful, but metal, particularly very thin precious metal chain, is different…
Most of the time a chain does not tie itself in a square knot (right end over left end then through the middle, then back the opposite way). It ties itself into a weird slip knot – meaning that a bit of metal chain has somehow become a loop and then it caught something else in between and tightened.
Knowing the type of knot is really important – because the self-inflicted slip knot type of knot is always easier to unknot that one that was designed to keep a ship attached to a dock during a monsoon!
Rule No 1 – Don’t Force Anything – Do the Opposite of That!
Let’s be honest, you know that you are much stronger than that puny little chain – me too. As a consequence, we often want to let that knot know who is boss! Refrain from doing this, because it will make things much worse and could even result in broken jewelry. You and your mighty self will win the battle but lose the war, so whatever you do, and no matter how much satisfaction you will get when it all comes flying apart, don’t try to rip it open!
Rule No – 2 – Ask someone with 20/20 vision (or a get good magnifying glass) to do “the surgery.”
After about age 40, they eyes begin to go. Not horribly off, but you won’t be threading a needle in midlife without spectacles. The same rule applies here. Wear reading glasses, find a magnifying glass (or a jeweler’s lope) and follow rule No 3.
Rule No – 3 – Get two safety pins and a lot of light and follow these instructions…
First, know that when you want to unknot a chain, don’t do it “by candle light.” In fact, almost no amount of light is too much, and you will get up close and personal, so you might as well see as much as the eye will allow. If you do not have 20:20 reading vision, we recommend a desk lamp with a built in magnifying glass. Our favorite lamp is the Begeer Lighted Desktop Magnifying Glass with Light and Stand and 1.8 X 6X Magnification Lenses (about $22 on Amazon).
Okay, now that you have the rules lets chat about the three steps…
Step 1: Find a clean white plain surface – lay the chain on the surface lengthwise – knot and all.
A clean and plain white surface is important because you will be dealing with a nearly invisible rope of precious metal and it will be easy to lose it on a patterned surface (I actually did lose mine during the photoshoot and my wife nearly killed me!). Lay your chain flat and lengthwise across the surface with one end at 3 o’clock and the other at 9 o’clock. Examine the knot – do not tug or pull at it because this will make it worse.
Step 2: Use your two safety pins and bend the faster back so that the pin head is at about a 120-degree angle from the fastener (see picture).
Stick the two pin heads in the middle of the knot. It’s important that they both go in the middle because this is where the tangle is.
Step 3: Leave one pin in place, pin head down, and gently wiggle/drags the other pin head outward, pulling the knot apart in the process. Keep the second pin head on the flat surface the entire time.
This will probably take two or three gentle tugs because you are taking the strength out of the knot and that rarely happens in one go. You will start to notice a loop opening where the knot once was.
Once loose, don’t try to untangle the knot with your hand even after the loop appears, this will just move the knot and it will retighten further down the chain and you will have to start all over again. Keep gently pulling the knot further and further open until it has come completely undone and the chain looks like it did when you purchased it.
You’re done! Now you know the time-tested method of unknotting a chain. You are going to be very popular in your family from now on!
The Pirelli Effect…
When you go to buy your new car, the cost might be $34,000 with normal tires, or $35,000 with high-performance Pirelli tires. Nine times out of 10, people will buy the car with the better tires. The reason is because in the scheme of things 1000 extra dollars on a $35,000 purchase does not seem like a lot.
Fast-forward, you’ve driven your car 36,000 miles and it’s time to replace your tires. You go to the local tire store and they offer you either the $1500 Pirelli tires, or the normal $500 Michelin tires. Which do most people choose? Most choose the $500 tires. When you separate the cost of the tires from the car the amount becomes very large. When you separate the cost of the setting from the diamond, the amount also becomes very large. A $1200 setting on a $10,000 ring seems like nothing. If you went out and bought a $1200 ring that amount would seem like a lot of money. So, it’s important to know what a good price is for 10 karat gold setting or ring on a standalone basis.
Check Prices with One Click: A+ Rated James Allen – Jewelers.NYC’s 2017 Top Online Discount Diamond Store
1/2 Carat | 3/4 Carat | 1 Carat | 1-1/2 Carat | 2 Carat | 2-1/2 Carat | 3 Carat
10 Karat Gold Per Gram
It would be rare for someone to ask the following:
How many grams of gold are there in my 10 k gold wedding band? The more likely question is what is the width of the ring? What is the size of the ring? And how many karats of gold is the metal.
This is the trick for many jewelers, because if the ring is wide and thin, you could very well be paying a lot more for your band than it’s worth because most people focus on the question “how many karats of gold in the metal?”
The very next question is about the markup on the gold itself? If you are looking for the best deal on your diamond engagement ring or any ring for that matter knowing the answer to the question how much is 10k gold worth can mean the difference between paying “Pirelli” prices versus Michelin.
How Much is 10K Gold Worth?
With the price of pure gold sitting at $43.29 at the time of the writing of this article (and easy to find price) the value of 10 karat gold is $16.60 per gram. This number will adjust up or down based on the price of 24 karat gold in the global markets, but it will always be approximately 35-40% of the price of pure, 24 karat gold.
The problem most people face is not finding out what the price of pure gold is but the price of gold when it’s diluted with other metals (i.e. 10 karat gold, 14 karat gold and 18 karat gold).
10k gold – current price $16.60 (38%)
14k gold – current price $23.60 (55%)
18k gold – current price $30.34 (70%)
Now Here is the Problem…
If you are a buyer of 10k gold jewelry, the price will also contain a markup of the metal and an artisan component (the value of the crafting of the piece). Both are fair and rational, but both can also be quite variable. If you are a seller of 10k gold jewelry, unless you are selling to someone who loves the design, the value will simply be the base metal – minus a discount.
This Means Price Compare – Always
Where is the best place to compare prices as a buyer of 10k gold?
We suggest going online to James Allen and Tiffany. To ruin the surprise, James Allen will be very low, and Tiffany will be very high. Both have a great offering, and both are rated on our site (see the sidebar on the left).
Where is the best place to compare prices as a seller of 10k gold?
Don’t go to a pawn shop or a gold broker unless you need the money right away, because you will get ripped off. We suggest eBay. In the old days, eBay was a great place to buy something for a big discount. While this is still true for unique items, those with a standardized and measurable price tend to bid themselves up to just under market most of the time.
One word of advice, once you know the price as a seller, if it has sentimental value, a family member might be the best place to start your selling process. Grandma’s cocktail ring might not be worth a lot to you, but Sissy might have been eyeballing it for years and was steamed when you got it instead of her!
The bottom line is that the price of 10k gold jewelry is quite variable. To get the maximum value, make sure you sell it to someone that appreciates and is willing to pay for the artisan value, not just the base metal value. Conversely, if you are a buyer, make sure you just pay for the design, not the brand because most people can’t tell the difference once it comes out of the box…
Jay
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Hello Everyone, my name is Jay Winter and let me begin by saying that for most people, diamond buying is confusing. It’s not surprising, because when you consider a “jewelry grade” diamond there are 23 possible shades of color (excluding fancy colors like pink, blue, etc.), five cut grades, 11 clarity grades and an endless number of sizes (carat weight). If you wanted to buy a 1 carat diamond ring, for example, you would theoretically have 23 X 5 X 11 = 1265 different combinations to choose from! Overwhelmed??? Let me make it worse…
A one grade drop in one of “the C’s” may or may not save you as much as a one grade improvement in another! In fact, it’s not uncommon for the average person to look at two one carat stones, and not be able to tell them apart, yet one will cost $5000 and the other $2500!
Don’t worry, I’m here to help. Inside, over a very short period of time, I simplify the 4C’s into a simple to understand system so that you too can make the perfect choice. Then I take it one step further and show you where to get the best diamonds for up to 40% off retail using well rated online diamond stores that don’t have the heavy storefront costs that most retail diamond stores do – after all, once you know how to buy the diamond, you don’t need the middle man any more, right?
So, step #1 is to learn more about the Jay Winter diamond buying system – I estimate that this will be enough for over 90% of you. The best part is that it’s quick – less than 30 minutes in most cases. if you need more information you can contact me personally here.
Jay
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If you’re looking for a diamond and have not heard of the term Diamond Grading Report, you will. Grading reports are as common in the diamond game, as a wine grade is from Wine Spectator. In fact, if your jeweler does not offer a grading report alongside your diamond purchase, run don’t walk from the store and go find one that will provide you with a diamond certificate.
Why Are Diamond Grades Important?
A diamond grade by itself has very little meaning. This is because the terminology used in a Diamond Grading Report is somewhat arbitrary. However, when used in mass(and consistently), diamond grades are extremely important: If I showed you a diamond that was G Color, VS1 Clarity, excellent Cut, and 1 carat in weight, and you had no other reference point you would not know if that’s a good, very good, or excellent diamond. Nor would you know if the price that you’re going to pay is appropriate for the diamond that you are about ready to receive. However, when comparing that G Color, VS1 Clarity, Excellent Cut diamond against a stone with different metrics, you will begin to understand what you like and don’t like about each diamond. More importantly, you don’t need to be a gemologist to understand the quality of the diamond that’s in front of you, because an independent diamond grading lab like GIA, the Gemological Institute of America, consistently applies the measures of Color, Cut, and Clarity. Because they are independent you become less concerned about being duped, and more concerned about trading off variables to get the best diamond for the money.
Diamond grades make it possible for people to discuss the stones simply and concisely. The fact is, without a “system” the buyer and seller of a diamond would need to describe the attributes of each stone and still might not get it right. For example, the quality of a L colored diamond with a VS1 Clarity might be described in the following way: the diamond is faint yellow, it is dark enough to see, but just barely so. The diamond has two microscopic little crystals that can’t be seen with the naked eye. In fact, they are so small, that you can barely see them under 10X magnification. It’s much easier to say L – VS1. Diamond grades are part of an international language that virtually all diamond professionals and many diamond buyers understand.
Diamond Grades Can Help You Compare One Diamond to Another
A diamond graded “D – Flawless” is very different from a diamond with a grade of “M – I1.” However, each has a buyer in the market. A diamond grade indicates its quality and is a determinant of the diamond value. More importantly, once a buyer has determined the Color, Cut, Clarity and Carat Weight that they like, then the diamond grade allows them to select the best price, among a large pool of diamonds available at diamond retailers and wholsalers such as JamesAllen.com.
Besides price, diamond grades allow people to match diamonds for jewelry. For example, a tennis bracelet with stones of a similar color looks far more attractive than one whose diamonds span D through Z Color. Therefore, a consistent, repeatable system for diamond grading is essential in the diamond market.
Diamond Grading Reports
Reputable diamond grading laboratories like GIA are the most consistent and dependable sources of diamond grades. It is important that you choose a reputable diamond grading lab to determine the quality of your stone.
A diamond grading report from a reputable diamond lab allows a diamond dealer (or indeed retailer) to choose a diamond without ever seeing the stone. Many diamond dealers purchase diamonds in mass from what are called “Wholesale Price Lists.” They can only do this if the stones are “as advertised” in the Diamond Grading Report. Diamond grading labs measure the 4 C’s of Color, Cut and Clarity along with carat weight; however most do far more than this. GIA for example measures the diamonds Polish, Symmetry, and Fluorescence (which is typically invisible to the naked eye, unless the Fluorescence is extreme).
To learn more about the 4Cs (as well as polish, symmetry and florescence) click the drop-down box at the top of the screen.
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Hello Everyone,
First, let me just say Happy New Year! I hope yours’ was an excellent 2017 and that you have a wonderful 2018! Over the winter break, my wife, 13 and 20 year old daughters and I went to Israel. It was terrific to see the other Diamond District in Ramat Gan outside Tel Aviv (technically it is called the Diamond Exchange District, but it is similar to Jewelers Row in many ways). We also went up North to Hula Lake, spent time at the Dead Sea, climbed Masada and spent several days in Jerusalem where my daughter became a Bat mitzvah. All and all very cool.
While I was away I gave a lot of thought to Jewelers.NYC and its mission: to help put diamond buyers and well-regarded diamond sellers together in a way that takes the confusion (and the unsavoriness) out of the process. Last year Jewelers.NYC made over 10,000 referrals, which in turn yielded many happy customers. We could not do this if our objective was to make tons of money from the NYC Jewelers, because we could not be objective and the buyers would not trust us. So we never charge jewelers for referrals and we never charge customers for guidance. We make a modest amount of money through ad placement (i.e. Google) and Directory subscriptions for Jewelers that want to get listed with us. These jewelers must comply with basic requirements that help keep the customers safe-each directory listing has a three point customer rating system which measures: trust, price and quality – pretty simple really, but very powerful…
In 2018 we hope to double the number of referrals and provide even more clarity to the NYC Diamond District. For those who are interested in some of the most interesting happenings on 47th Street Jewelers Row, such as special inventory, new designs and diamond price movements, simply add your name to the subscription pop-up below on the right. We’ll send out a note about twice a month – one page quick and effective.
For the rest, click the “Search Our Directory” link on the top left of every web-page to find your perfect jeweler. You can narrow your search in so many ways, reducing hours of work into minutes. Most importantly, come back often! We are constantly publishing new information about the jewelers in this wonderful little corner of the diamond industry.
All the Best
Jonathan Winter
Owner, Jewelers.NYC
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