Do’s and don’ts of buying diamonds in NYC

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When you travel, the one thing you keep an eye out for is the specialty of the place. A trip to Sri Lanka must involve your souvenir list to include at least one traditional mask. Very few people that have a holiday in Spain do not come back home with at least a little something made out of hand-woven lace. Likewise, if you visit the United States of America take a trip to New York to buy some loose diamonds. New York is one of the major centers for the global diamond trade. The city has an area known as the Diamond District with a large number of diamond trading companies and diamond stores where you can buy high quality diamonds for a lot cheaper than anywhere else in the country. While there are two diamond districts in NYC, one on 47th street and the other on Canal street, it is advisable to visit the renowned 47th street one for safer buys.

Buying diamonds in New York is not nearly the same as shopping for such jewels in any other country or even at retail stores. On an average the area sells diamonds worth over a million dollars each day. When you walk down the street, the first reaction is of being overwhelmed with the choices you have in terms of shops and dealers. Next, the panic sets in. How are you possibly going to do this? Going through every door and taking a look around can take hours, not to mention be very confusing unless you know exactly what you want. Hence, the best thing to do is make up your mind beforehand about the kind of money you are willing to spend, know the range of color and clarity grades you are looking for, decide on the carat weight you want, and choose a cut and shape.

The diamond district is not a mall, nor like any other shopping area. While there may be salespersons trying to get you into their stores, not many are willing to show their entire collection unless they are sure you want to buy big! So do dress nicely. People wearing shabby clothes rarely get first class treatment here. Also, keep in mind that not all stores in the area accept bank cheques. Some even refuse taking credit cards. The safest thing to do if you are sure of buying at least one diamond is to carry cash. Carrying such kind of money is clearly not wise in a place like New York, but then ‘you gotta do what you gotta do’ right?

The list of don’ts far exceeds the list of dos when it comes to buying diamonds in New York’s Diamond District. So why do so many people buy from here? Well, more than 90 percent of the diamonds that enter the country come through this district, which means that the traders are familiar with even the rarest diamonds and buyer demands. This also means that buying diamonds here is much cheaper as compared to anywhere else in the country where they are obviously marked up for profit margins. Plus, it is said that you can almost bet your bottom dollar to get the exact diamond you want by the end of the day, here no matter what specifications you demand. However, there are a few drawbacks. There are many stores that take advantage of the naïve customers. Therefore, you have to take every precaution possible to make certain that you have a good deal at hand.

Do not buy something you are not sure about. Do not get pressured into buying something you don’t want. Make sure of the certification of the diamonds. Avoid buying diamond jewelry. Instead, buy loose diamonds.

Bio

Ben has been a freelance writer for the Internet for nearly a decade now. He enjoys writing about buying diamonds in New York, the dos and don’ts of buying jewelry as an investment, making a living in the diamond industry, jobs you can have in the diamond manufacturing chain, etc. His articles are aimed to be informative for the average reader who is interested in the subject.

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