Shopping for Diamonds, Jewelry and Watches in the Diamond District

Most people find shopping in the New York Diamond District intimidating and overwhelming but same can be said for most shopping districts or car sales lots. With a little preparation and homework you can avoid the hassle and bustle of this busy shopping destination and fine the diamond, jewelry or watch you are looking for at an amazing discount compared to the main street jewelery stores.

 

In the New York Diamond District there are hundreds of specialized vendors offer their merchandise either in private stores, counters in the jewelry exchanges or in the office buildings. Diamond District is a lot larger than it may seem because of the majority of wholesalers and diamond dealers being located in the office buildings on 46th, 47th and 48th streets.

You can certainly find any type of jewelry, diamond or watch you are shopping for in this one block shopping center. It is said that almost ninety percent of the jewelry transactions somewhat pass through the Diamond District in New York. Here are few steps you can take to prepare for your visit to the Diamond District:

• Decide on exactly what you are looking for and how you want to spend. Internet gives us all the tools to do our research on no matter what you search for; from diamonds to jewelry, watches to gemstones you can find the information on thousands of web sites out there.If you are looking for diamonds then learn the 4Cs, certificates, average market price, etc. If it is jewelry you seek find out the model numbers, metal options, etc.
  
  
• Select few jewelry stores you want to visit. Specially if this is your first time visiting the Diamond District, with so many stores it will be time consuming and confusing to browse store by store. You can always ask family and friends for their recommendations also you can check with the BBB for the reputation of the store so you have an idea what others saying about their experience. Remember to read the buyer's bill of rights before you start shopping.
  
  
  
  
  
• Call and make appointment with the jewelry stores you want to visit and set times for each visit. Let them know exactly what you are looking for and your budget so they know what to prepare in advance. Sometimes stores keep their excess diamond or jewelry inventories at remote location or vault.
  
  
• Some stores are open on Saturdays, if the store you want to visit is open on a Saturday or even a Sunday visit them then. 47th Street will be practically empty, plenty of car parking and no one to hassle you while you browse the store windows. Also the store staff will have more time to spend with you on a weekend than during the week.
  
  
  
  
  
• Don't get intimidated by the sales staff and don't make a quick decision. Most reputable jewelers will understand and let you go shop around and compare.
  
  
• If it is a diamond you are looking for always go with one that has a certificate that the explains the specifications of the diamond like the carat weight, clarity, color, polish, proportions, etc. Remember that each of these criteria will make a huge difference in the diamond's price.
  
  
• Finally, remember to check the return policy of the merchant before you make up your mind. Law is on your side but jewelry store can make up their own return policy but it will have to be clearly visible and it should say on your receipt. Consumer Affairs and BBB are on your side to resolve any issues same applies to your credit card company so pick your card rather than cash when paying.
  

Good luck and happy shopping!

History of Diamond District in New York

New York Diamond District is an excellent spot to shop for diamonds, fine jewelry and watches. You can find almost anything you are shopping for at remarkable discounts when compared to jewelry stores located elsewhere.

New York City's 47th street between Fifth and Sixth avenues, in Midtown Manhattan has been known as the NYC's Diamond District since the 1920s when jewelers from the Bowery, Canal and Fulton streets moved uptown to form today's Diamond District or as the street sign states the "Diamond Jewelry Way".

Prior to 1920s New York's Diamond District was on the Maiden Lane, four blocks north of Wall Street. New Yorkers visited the Maiden Lane when they needed that special piece of diamond jewelry or watch. For decades Maiden Lane was synonymous with the jewelry and diamond commerce in New York. The New York Times newspaper once stated that “the bride-to-be who could show a ring from Maiden Lane was thrice happy.”

Starting late 1800s diamond merchants and jewelers located on Maiden Lane tried to move uptown Manhattan but each time they returned back to Maiden Lane due to the fact that New Yorkers wanted to buy their jewelry on Maiden Lane. Around 1910s financial companies from Wall Street started to move and replace the jewelry companies by paying higher rents than a jeweler could afford.

Real estate developers seeing these circumstances wanted to take advantage of the situation. Real estate broker Mr. Goode even promoted a brand new construction at 20 West 47th street to the Maiden Lane jewelers even though the Maiden Lane was known as the “the permanent jewelry centre” of New York for decades. Few months after that jewelers were also showing interest in the buildings located at 1 West and 40 West 47th street.

In 1925 newspapers stated that the jewelry industry to remain downtown on the Maiden Lane and there were no plans of moving uptown. Just few months after this statement another newspaper article mentioned that the fourth building was on the way at 66 West 47th and the property prices already doubles in value since 1923 and that within a year 75% of the jewelry businesses will be located in this new district. Three new building projects started right after that and news sources reported that the 47th Street block “has almost overnight become New York’s new Maiden Lane.”

Just recently 47th street Diamond District was back in the news again, a new high rise construction on 47th street started to for a 34-story “International Gem Tower”. The tower, which is due to be completed mid-2011, will be a sleek building at 50 West 47th Street that will feature both jewelry and non-jewelry tenants in its "office condominiums," as well as entrances on both 46th and 47th Streets.

Historical facts about the 47th Street - Diamond District were published in The New York Times - Streetscapes: The Diamond District Article

Diamond District in New York

New York City's 47th street between Fifth and Sixth avenues, in Midtown Manhattan has been known as the NYC's Diamond District since the 1920s when jewelers from the Bowery, Canal and Fulton streets moved uptown to form today's Diamond District or as the street sign states the "Diamond Jewelry Way".

This one city block handles some of the world's largest diamond and jewelry transactions. Some say that over four hundred million dollar exchanges hands in one day in the Diamond District. Over ninety percent of diamonds and fine jewelry enter the United States go through New York City and 47th Street Diamond District. This makes New York's Diamond District one of the world's largest centers for diamond and jewelry among London in the UK, Antwerp in Belgium, Ramat Gan in Israel, Mumbai in India and Johannesburg in South Africa.

NYC's Diamond District is home of the Diamond Dealers Club {DDC}, Gemological Institute of America {GIA}, International Diamond Institute {IGI}, European Gemological Laboratory {EGL} and other diamond and jewelry authorities. NY Diamond District is lined up with jewelry stores and exchanges. One can find any type of diamond, gemstone, fine jewelry or watch in this, one of a kind shopping district.

Visit http://www.nydiamonddistrict.com for more information.