The famous Diamond District in NYC is home to over 4,000 jewelers as well as wholesalers. These New York jewelers congregate in a small area in Midtown Manhattan, where you’ll find a constellation of jewelry shops selling diamonds and fine jewelry—including engagement rings. This small district generates a whopping $24 billion in sales annually and over 90% of diamonds that are imported into the United States pass hands through this district before being distributed to retailers in other parts of the country.
Whether you’re serious about buying a diamond engagement ring or are simply looking around, you’ll likely find an overwhelming number of New York jewelers showcasing a dizzying array of diamond rings. Here are some tips on navigating this famed district and how to get the best value.
First of all, come at the right time. Sundays are no good as most shops are only open from Mondays to Saturdays, closing by 5.30pm. Some stores only accept visitors by appointment, so do call ahead.
Before you even consider handing over your credit card, check if the diamonds have grading reports from GIA or other reliable third-party labs such as AGS. Are you interested in colored gemstones and colored diamonds? Check if the color is natural or if the stone underwent any form of treatment.
To the uninitiated, NYC’s Diamond District can be a huge shark tank filled with aggressive salespeople trying to rip off unsuspecting buyers. Don’t get sucked into their scams.
Be wary of “record low prices” or “wholesale deals” because they are usually never true. Do some online research so that you know the average price of certain diamond sizes? Don’t expect New York jewelers to take time to educate you and honestly disclose the negative aspects of the diamond you are looking to buy. Come with a list of engagement rings styles plus pictures. This will make the process of finding that perfect ring much easier.
Whether you’re serious about buying a diamond engagement ring or are simply looking around, you’ll likely find an overwhelming number of New York jewelers showcasing a dizzying array of diamond rings. Here are some tips on navigating this famed district and how to get the best value.
First of all, come at the right time. Sundays are no good as most shops are only open from Mondays to Saturdays, closing by 5.30pm. Some stores only accept visitors by appointment, so do call ahead.
Before you even consider handing over your credit card, check if the diamonds have grading reports from GIA or other reliable third-party labs such as AGS. Are you interested in colored gemstones and colored diamonds? Check if the color is natural or if the stone underwent any form of treatment.
To the uninitiated, NYC’s Diamond District can be a huge shark tank filled with aggressive salespeople trying to rip off unsuspecting buyers. Don’t get sucked into their scams.
Be wary of “record low prices” or “wholesale deals” because they are usually never true. Do some online research so that you know the average price of certain diamond sizes? Don’t expect New York jewelers to take time to educate you and honestly disclose the negative aspects of the diamond you are looking to buy. Come with a list of engagement rings styles plus pictures. This will make the process of finding that perfect ring much easier.
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