The New York Diamond District, Buying Diamonds in NYC 2023

We should begin first by addressing the "how" question. The best way to buy diamonds in New York is through the internet since doing so comes with numerous rewards. The most obvious one is the ability to shop from the convenience of your location. You can seamlessly place your order and have the stone delivered to your address.

Buying online also enables you to compare prices across several stores, which is another fantastic convenience. Walking from one physical store to another comes with several challenges; most notably, it is physically and mentally exhausting. Before you find your preferred jewelry, you will contend with all manner of sellers and come across those trying to upsell low-quality diamonds. You may also encounter sellers that deal in high-end jewelry, though their prices may be well above market value.

When you physically check into a jewelry store, sellers begin analyzing you. The merchants can readily tell if you are the kind of shopper that would easily splash on jewelry. Fortunately, you will not find these tactics in online trading, where you can sample diamonds from store displays, ask all the relevant questions, and then place your order. The only time you will physically visit the stores is during the actual purchase, which will only apply if the store does not ship to your location.

But even when shopping online, you should take all necessary precautions. Remember, it is a virtual world; you could fall victim to common jewelry fraud. You may get a stone of a lower quality than what you ordered. Click here to check out other common scams associated with online shopping.

But there is no need to worry because reliable jewelry dealers still exist. But how do you establish the reliability of a diamond dealer?

As you view a company's online displays, check for their reviews of them online for a start. Insist on legitimate review websites because such websites make it difficult for companies to sponsor their reviews.

Apart from positive feedback, go with a company that deals in graded diamonds. Although every diamond you come across in New York will likely come with grading certification, the real deal is to check the grading authority, especially in the case of lab-grown diamonds. If in doubt, only order from a company that deals in GIA diamonds. The next consideration is the company's return policy; if the store offers a lifetime warranty, you would not be required to look beyond.

When you are done, you can proceed to compare prices. While doing so, ensure you are making an "apple-to-apple" comparison. In simple terms, diamonds should be similar in all other parameters.

However, it could be that you are looking for the brick-and-mortar experience, especially if you are a tourist looking to experience the streets of New York City as you shop for your jewelry. In this case, your best bet would be to head to the New York Diamond District.

The New York Diamond District is the most popular place to buy diamonds in New York, with a history dating to the early 1920s. The District is in Midtown Manhattan, West 47th Street—the Fifth and the Sixth Avenues surround it. NYC Diamond District is strategically located at a short distance from significant points of interest; notable mentions include Madison Square and Times Square. You can follow this link for directions to the NYC Diamond District.

Over the years, the District has seen a substantial expansion due to the high number of jewelry merchants trooping into New York yearly. With over 4,000 wholesale and retail jewelry dealers, the Diamond District offers an experience of its kind. You can buy your diamond from standalone shops or visit shops featuring scores of jewelry counters. But like many other diamond districts, adequate preparation is paramount.

Its ease of accessibility makes the NYC Diamond District stand out. As we mentioned earlier, the District is nestled in midtown, implying that you can get there using any means of transportation.

The most popular mode of transport is by train. All the B, D, F, and M trains stop at the 47th Street Rockefeller-Station. The terminus is the 6th Avenue entrance into the NYC Diamond District. You could also opt for the N, R, and W trains, all of which pass through 49th Street.

If you prefer bus transport, your options are unlimited. Numerous non-stop buses ply the Avenue throughout the day. Besides, you could also take a taxi or drive yourself there.

Most importantly, you should understand the best times to visit. Shops in this District open relatively later than other shops in the city. Business hours typically run from 10:00 am to 5:00 pm. The ideal visiting hours are mid-morning or afternoon, right after lunchtime. Also, if you are visiting from out of the US, take into consideration the public holidays.

December might be the best time to go shopping for diamonds on this street. Around that time, most shops opened unusually early and close late to cash in on tourists' high presence in the city. If you are visiting during winter, make allowances for heavy traffic.

The convention is to schedule an appointment with a jeweler in advance so that you can prepare your questions and have them addressed before buying your jewelry. You will discover that most reputable traders primarily work with appointments.

Presently, it is estimated that over $500 million diamonds are traded here every day. In other words, the street accounts for over 90% of all diamond trade throughout the country, most of which, fortunately, is high-end jewelry with proper grading certification. However, you will not always get fair bargains when shopping for diamonds on this street; that is where adequate preparation comes in.

Like shopping online, you should acquaint yourself with the necessary information on diamonds in general. Begin by understanding the elements that determine the quality of diamonds. First and foremost, learn about the 4Cs – Cut, Carat, Color, and Clarity. Next, try to uncover the jewelry styles and designers in vogue. For instance, two popular styles include the Edwardian and Art Deco, while some famous diamond designers include Tacori, Ritani, and Verragio. Always choose a merchant that deals in not just fashionable but luxurious designers.

You may also want to learn more about the different styles of engagement rings. For instance, we have Angular Style rings, Floral Motif rings, and Halo Style rings.

After acquainting yourself with the necessary information on what comprises a high-end diamond, proceed to establish the seller's reputation. Here, you will need to go back online and check on reviews. At the very least, buy diamonds from a seller with an online presence. According to this article in the New York Post, online shopping is now a popular trend among jewelry buyers. Therefore, a reputable merchant should have already aligned itself accordingly by having a website. Avoid any merchant without Google or Yelp reviews. Word-of-mouth recommendations may sometimes come in handy, but they are not always reliable because every diamond shopper has unique tastes and specifications.

Once you have located a seller, do not buy a diamond without proper documentation. Insist on the GIA or AGS grading certificates and do not take any seller at their word. Insist that they provide proof of certification and confirm if it is valid.

When interacting with a trader, ask as many questions as possible. The trader should be happy to clear up your doubts and suspicions. Avoid sellers that try to rush you into deciding, especially those who publicize their jewelry as the most affordable. Throughout your interactions with dealers at the NYC Diamond District, always keep your guard up. If you doubt a seller, politely walk away.

As for getting the most affordable deals, avoid shops that face the streets, such as those on the 6th Avenue side of the Diamond District. Most diamonds in such stores are overpriced. Plus, these shops are often too crowded, making it difficult for you to sample the displays carefully. Instead, insist on stores located above the ground floor and avoid shops that sell their diamonds in complete rings. The elegance of the ring may carry you away at the expense of the quality of the diamond in it. Therefore, your best bet is to visit shops specializing in loose diamonds.

However, remember that price variations should not be huge. For instance, you may come across a shop offering a diamond for $30,000 and another selling the same diamond for $6,000. Though it looks like the best bargain, the second diamond is likely a low-quality gem.

Shopping for a diamond at the NYC Diamond District is a beautiful experience. The District has numerous stores that stock diamonds guaranteed to make you say 'wow' at least once. Moreover, the reasonable prices will have you tripping over your feet to buy one. So, next time you are in the city, check out the online stores and be ready to be amazed.