New York Diamond District [Four Fraud Prevention Tips]

New York Diamond District

You’re thinking about going to the New York Diamond District and don’t know how to prepare? Don’t worry, Jewelers.NYC has four easy steps that will save you time, and money and keep your stress level from exploding into the stratosphere.

New York Diamond DistrictFirst, don’t go to the New York Diamond District until you know exactly what you want. 47th Street Jewelers are very good at finding the best story for even the worst diamond. If you don’t know what you’re looking for, then anything will do! Not sure what you want? Get Jewelers.NYC’s book – Buying a Diamond Online is Easy on We’ll take you through all the steps.

Diamonds are hypnotic, which means that if you rock up and say I have $10,000 to spend on a 2-carat diamond engagement ring, there is no doubt you’ll walk away with one. Importantly, you will probably be convinced that this is the best diamond in the world for the money. But will it really be worth $10,000?

Next, make sure you speak to more than one jeweler. This is the beauty of the New York Diamond District. There are over 2000 jewelers on 47th Street between 5th and 6th Avenue. If you get a “great price” on your round “2 carat diamond engagement ring,” take that diamond’s 4 C’s (plus a 5th, certification – only buy GIA certified diamonds – read our Online Diamond Store Review to discover why). Then walk 20 feet to the next booth and ask for a quote from them on the same 4 C’s.

Then, ask for their return policy – in writing. If it’s 30-day money back policy, that’s very different from 30-day exchange, or in store credit policy (you never know, I was turned down the first time and didn’t see it coming. No I’m not bitter!). Know which is which.

Check their Better Business Bureau Rating on your smartphone at If the store’s BBB rating is high and something goes wrong, then they will fall over backwards to make sure you don’t report them. If it’s low or non-existent, ask why they don’t have one (many diamond dealers in the New York Diamond District do in fact have one because of the reputation of 47th Street).

Finally. Know the best price before you go to the New York Diamond District. Visit James Allen’s Online Diamond Store to “price check” your future purchase before you go. Online diamonds are typically 30-40% off retail store prices, so you’ll know what a great price is before you step onto Jewelers Row. Also, James Allen is rated A+ by the Better Business Bureau, and pricing a diamond on their site is easy, fast, free and completely anonymous. You don’t need to talk to anyone, or give an email address or even sign in!

James Allen Online Diamond Store Diamond Pricing Page

Good luck in the New York Diamond District. We’d love your feedback in the comment section below.

Your friends at Jewelers.NYC