![]() New York City, on the other hand, is one of the premier locations for consumers as well as one of the largest wholesale markets in the world. Antwerp used to have a nice mix of both, but the diamond industry has been dying off there on both the wholesale and retail levels. ![]() Places like Mumbai and Ramat Gan are exclusively designed for the wholesale level of the business while Jewelers rows in Philadelphia, Chicago or London (Hatton Garden) are just there for the consumer with almost no presence of major diamond trading companies. There are plenty of cities which have diamond districts, but New York City is unique. A Premier Spot: Buying and Selling Diamonds in the NYC Diamond District Some are standalone shops while others host dozens of jewelry counters vying for attention. It’s a stone’s throw from Times Square and is home to over 2,500 jewelry stores. ![]() The Diamond District is one block off of Madison Avenue, famous for the iconic fashion houses’ flagship stores. The Diamond District in New York is located on West 47th Street between Fifth Avenue and Avenue of the Americas in Midtown Manhattan. According to JCK Online the eBay store will have a unique model “The store lets shoppers appraise and possibly trade in their pre-owned luxury items.” and is positioning itself as an alternative to resale stores and pawnshops.ĭeal Alert: Save 10% off Lab Grown Diamonds at James Allen! Where Is The Diamond District in New York? Already back in 2008 The New York Times reported that “Though data is scarce, longtime business owners on 47th Street say the district is shrinking.” More recently online auction giant eBay announced that it was opening a luxury retail store in the district. Like all neighborhoods, the diamond district has had its share of ups and downs. ![]() You’ll also have people up and down the street paid to get you to visit one of the shops on the street. And if you are thinking of pulling off a heist, there are plenty of undercover officers as well. Walking down the street you will also notice plenty of armed guards for the shipping companies and police officers patrolling. Most of the shop owners and workers are Hassidic Jews, Russians or Indians (three groups that dominate the diamond trade on the wholesale and manufacturing level as well). To read more about our process for secret shopping and reviewing companies and additional details about how we operate, check out this article.Ĥ7th Street is a fascinating place. Mike is recognized as an industry expert and has been quoted in publications such as Us, People, Page Six, The Next Web and more. ![]() This has given him a unique perspective on what information truly helps our readers in their quest for finding the perfect diamond engagement ring or piece of jewelry. Mike Fried has written hundreds of articles and helped answer more than 30,000 emails from our readers. Mike followed that up by spending years buying and selling diamonds on the wholesale market as well as selling tens of millions of dollars worth of diamonds to diamond retailers. Mike started from the bottom, sorting and evaluating hundreds of thousands of diamonds to learn every facet (pun intended) of diamond quality and value. The author of this article, our CEO, Mike Fried has over 20 years of experience in the diamond industry. To help you with the diamond buying process we lean on our expertise and experience. ![]()
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