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.
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While we’ve known of I.D. Jewelry’s reputation in the New York Diamond District for some time, we discovered just how good they really are when we were parsing through reams of New York jewelry store data for our Top 10 Jewelers of the Diamond District article.
ID Jewelry was one of the very first to make it on our “Top 10” list, hitting every measure almost dead center. Before we get into the interview with Yekutiel Davidov, Store Manager, let us give you their results from our Top 10 article…
It’s fair to say that I.D. Jewelry has a “raving fan” base of loyal customers. One just needs to look at their 288 reviews on YELP, 283 of which are five stars. Then there are the over 12,000 followers on Facebook. Finally (and frankly most importantly to us) we felt their A+ Better Business Bureau Rating was quite special (and quite rare) among the 1365 businesses in the NYC Diamond District. Of the 1365, only 35 possessed an A+ rating at the time of this article.
Phew. Now that we got the stats out of the way, let’s talk about the store…
I.D. Jewelry is a family owned business that was started over 30 years ago by Israel Davidov. To an outsider, they might think that I.D. Jewelry has something to do with, well, identification jewelry. But they’d quickly learn that “ID” stands for the founder Israel Davidov. If the owner’s name hadn’t tipped us off, then the business’s exquisite offering certainly would have done the trick.
One of the biggest reasons that the store has as many fans as it does is the time the staff spends educating its customers. Yekutiel Davidov, the store manager and son of Israel explains just how important education is to building trust and repeat business on 47th Street’s Jewelers Row.
Yekutiel Davidov: “There are a lot of jewelry stores on 47th Street, but they can’t all give you the same thing. Any store can provide you with an overall box standard product that looks like the others, but at I.D. Jewelry we take the initiative to educate our customers so they are very happy and comfortable with their purchase.”
The interview continued…
Jonathan Winter: “Tell us about your staff.”
Yekutiel: “Our staff is our family and we make sure they treat our customers like family too. Our only goal is to satisfy the customer. When that happens, repeat sales happen naturally.”
Jonathan: “How about special training?”
Yekutiel: “Most of our staff has been trained on how to grade diamonds and manufacture fine jewelry, including rings, bands, etc.”
Jonathan: “What type of pieces is I.D. Jewelry known for?”
Yekutiel: We sell a lot of diamond engagement rings of course, but we also sell diamond eternity bands, diamonds studs and diamond tennis bracelets.
Jonathan: “What else do you offer?”
Yekutiel: “We also carry color stones such as rubies, sapphires and emeralds. These stones make incredible jewelry.”
Jonathan: “Last (and perhaps the most important) question. I.D. Jewelry is known for both its quality and competitive pricing. How does your store stay so competitive in the market?”
Yekutiel: “Three important reasons … First, we moved our business from a store to an office and saved a lot on overhead costs. Next, and very importantly, we buy our diamonds directly from manufactures, not from wholesalers. We also provide our customers with pictures and videos of diamonds including Ideal Scope and ASET images which are very important in determining the cut and quality of the diamond. Finally, we make and manufacture our own jewelry. Because of all of this we end up passing on a savings of 20 to 30% to our customers.”
What Yekutiel didn’t say, but we at Jewelers.NYC have heard repeatedly from many of their customers, is that the staff focuses on understanding the customer’s needs, not pushing product. IDJ staff is very effective at gently querying the customer and then finding just the right offering.
One of the most important jobs of a great jeweler is taking the words the customer is trying to say to describe their dream diamond jewelry and transforming those words into the exact piece they are looking for. We believe this is I.D. Jewelry’s top strength. This ability, through a combination of client interview skills and product knowledge, leads to a lifetime customer and numerous referrals. Their prices are very competitive too!
As far as the diamonds themselves?
I.D. Jewelry has access to thousands of GIA graded diamonds. This allows them to offer special rings, bracelets, necklaces and earrings with the safety of a GIA lab rating on their products.
The biggest benefit to using I.D. Jewelry is the staff’s obvious desire to serve their customers. If you are planning a trip to Jewelers Row we suggest stopping in at I.D. Jewelry. Ask for Yekutiel and let him know that Jewelers.NYC sent you!
Contact Information:
15 West 47th Street Suite #305
New York, NY 10036
212-921-9372
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Recently we caught up with Christina Lee, one of two general managers of Diamond Envy to talk about their store, their offering and their top position in our NYC Diamond District Best Stores – Top 10 article.
Diamond Envy was an easy choice for our “Top 10” Diamond District Jewelers list for a number of reasons. First, their offering is unique in the NYC Diamond District. They specialize in fancy colored diamonds. This is diamond speak for yellow, pink, blue, green, etc. Second, they have an incredible following on Facebook – 46 thousand and growing. That stat was interesting, but we also know that getting that many likes is possible through smart ad placement as much as anything else. Still the number was impressive.
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We were absolutely thrilled by their generous 60-day money back guarantee and their lifetime buyback program. What was most important to us was their A+ rating from the Better Business Bureau. Our records show there are 1365 jewelry businesses on Jewelers Row’s 47th Street and only 35 possess a BBB rating of A+. This is one in 39. While the absence of a rating is neither good nor bad (some jewelers don’t feel it’s necessary) the existence of one, particularly an A+ rating, says that the store is beholden to a very high level of customer service.
That is also what we found at Diamond Envy.
Jonathan Winter: “You have a rather unique offering for Jewelers Row – specializing in fancy colored diamonds…”
Christina Lee: “One of the things that sets us apart is our passion for color. At Diamond Envy, clients will find an amazing selection of some of nature’s most magical creations: natural color diamonds with hues such as pinks, blues, greens, and reds”
Jonathan: “Do you also offer colorless diamonds?”
Christina: “Of course. A lot of our jewelry combines colorless and colored stones. This is a powerful combination on just about any jewelry piece – the contrast is amazing. A black and colorless diamond combination, for example, is a terrific combination for a black tie night out. We even offer the “88 Cut Diamond.” Unlike the usual fancy shapes, the 88 Cut does not make any sacrifices in apparent size. “The 88 Cut Diamond is similar to a round brilliant diamond but has 88 facets instead of 57 – talk about sparkle!”
Jonathan: “Interesting, tell us about your typical client”
Christina: “Our customers are truly individual and unique – just like a fancy colored diamond, no two clients are exactly alike. Someone shopping for fancy colored diamonds has very specific tastes and our offering caters to those special needs.”
Jonathan: You have a great return policy. Tell us about your 60-day policy and your lifetime buyback program.
Christina: Sure. We feel the 60-day money-back return policy is one of the best in the industry. Some stores offer to buy back the diamond on a case by case basis. Others offer 30 days. Very few offer 60 days. The lifetime buyback program says we’ll buy back the diamond at 70% of the original purchase price if it’s in the same condition we sold it to the customer. We’ll need the diamond’s certificate and original paper work, of course.
Jonathan: “Do clients return their diamonds?”
Christina: “Not often, but they like the peace of mind to know they can.”
After Christina, I went to the Diamond Envy site and looked around. Admittedly it was a lot of fun! Diamond Envy lists many of their fancy colored diamonds online and they provide a diamond selector tool where you can play with intensity of color, carat weight, shape, etc. What we like most is that the very first thing a user sees – in the upper left had corner – is the GIA logo. Diamond Envy proudly displays the fact that they sell GIA graded stones. This is very important to us.
Bottom Line
The next time you make a trip to the New York Diamond District, we recommend that you stop by Diamond Envy and talk to Christina Lee or Emily Duke. Their passion for color is contagious and you might find that incredible and unique piece you’ve been searching for.
Diamond Envy
590 Fifth Avenue,
15th Floor,
New York, NY 10036
+1 (646) 653-8988
Disclosure: Jewelers.NYC received no compensation from Diamond Envy.
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I caught up with Guy David from Dreamstone to chat about his family’s business, their customers and most importantly to congratulate Guy and his brother Eli on achieving a coveted “Top 10” spot in our Diamond District NYC Best Stores 2017 Review. There are 1365 jewelers on Jewelers Row and to make it to the Top 10 is something very special – one out of 136 jewelers made the cut…
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
To be fair it wasn’t hard for us to choose Dreamstone. They have all the characteristics of a world class diamond business. First their reputation with Jewelers.NYC was pristine. This was the first and most important screen. No matter what came next if we heard anything negative – they were off the list. Next, they have a rock solid 5-star rating on YELP. Importantly their number of respondents suggests that the rating isn’t “managed.” This was very important to us because anyone can get a ton of great YELP reviews if they are willing to give away a $100 gold chain after every favorable YELP review – some stores actually do this. They also have over 10,000 Facebook likes. Their Facebook page has some amazing diamond images as well so this does not surprise us either (Guy if you have any we can use on our site let us know 🙂 ). Most importantly for us was Dreamstone’s A+ rating from the Better Business Bureau. Dreamstone’s BBB rating has something quite rare – no negative reviews, not one.
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Phew. Now that we got the analytics out of the way let’s talk about Dreamstone. Let’s go to the discussion with Guy.
Jonathan Winter: Tell us what makes Dreamstone special here on Jewelers Row’s 47th Street.
Guy David: First let me say that there are many stores here on 47th Street and each has their positives and negatives. What makes Dreamstone special is that every order is 100 percent custom made. While just about any jeweler can put a diamond on a premade setting, we strive to design a piece that speaks to the wearer. We are very good at asking the right questions, so that the end piece is amazing.
Jonathan: Tell us about your diamonds
Guy: We carry our own inventory. It’s not uncommon in the NYC Diamond District for jewelers to source diamonds from one another. This is fine, however we want to make sure we know the pedigree of the stone. We are lucky to be one of the few jewelers that is able to purchase diamonds directly from its origins. Our diamonds are all conflict free. All are GIA graded and each is handpicked by us for our customers. We are known for having some of the best cut diamonds with the most desired qualities.
Jonathan: How long has the David family been in the diamond business?
Guy: Three generations. Eli and I are running the business today, but my grandfather Joseph David started our family business over 100 years ago. At some point Eli and I made the decision to leave corporate America and join the family business. We both went to live in Johannesburg, South Africa for several years with our father who ran the diamond factory out there. We learned the diamond trade from the ground up. When we felt ready, we opened DreamStone in 1998 and it has been at the same location in Jewelers Row for over a decade.
Jonathan: How does customer education factor in with your clients?
Guy: Like many successful jewelers in the NYC Diamond District, we have thousands of satisfied clients. And as you pointed out we don’t really see complaints, because we spend the time necessary to understand and educate our customers. This is our obsession. We could operate a mass production, mass sales business but jewelers who operate like that don’t get a lot of repeat business. We’d rather spend our time understanding our client’s specific needs and design a piece that is uniquely special for what they need. When any jeweler does that he has a client for life.
Jonathan: Tell us about your team.
Guy: At our factory in Long Island City most are gemologists and expert jewelry makers. At our showroom in New York City we have a group of certified and trained staff including Ethan, Stephanie and Kayla who learned to do business the way the David family does business – putting the customer first.
Jonathan: And your return policy?
Guy: We will be happy to refund, exchange or replace any unworn item within 30 days from the date of purchase. We credit the customer’s account within 2 business days.
Jonathan: Do customers return their jewelry?
Guy: It’s rare but it happens. Most of the time it’s unrelated to the jewelry…
After I finished up with Guy, I went to the Dreamstone website. On their site we were able to view their diamond inventory, read the related diamond certificates and even build a diamond engagement ring. Extreme price transparency – we love it!
Jewelers.NYC suggests that you stop by Dreamstone on your next shopping trip to the New York Diamond District. Ask for Guy or Eli and tell them that Jewelers.NYC sent you.
Dreamstone
15 West 47th Street, Suite 1000
New York, NY 10036
800-818-8386
Disclosure: Jewelers.NYC received no compensation from Dreamstone.
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