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The Diamond District

How To Shop In The Diamond District NYC

The hustle and bustle of New York’s diamond district hides behind it the silent army that is continuously at work. The actual people and the way they work could well be understood when you are in the 47th Street. The cutters, polishers, sorters, appraisers, designers and many more people are associated with the conduct of the business, but as buyers of diamond, our attention never shifts to them. They have a distinct work culture and also a vocabulary that has evolved over generations and still used in the 47th Street. The marked influence of Yiddish or the German Jewish reflects the long association of the Jewish craftsmen and traders with New York’s diamond district. There are also Dutch, Belgian, Russian, Korean, French and Indian craftsmen among others. Familiarity with the various terms used here can resolve your queries on how to shop in the diamond district NYC.
Diamond merchants make use of a vast terminology of technical terms. There is more to a diamond than the 4 C’s that represent cut, clarity, color and carat weight. The sellers will use terms for inclusions or flaws, dimension, fluorescence, symmetry and polish. For example a diamond could be described as “round G 4.18 VVS₂ TRIP X”. A diamond dealer will be immediately able to decipher the code, understanding its meaning as well as the exact value of the diamond.  The diamond color is represented by G and up on examination they will be able to make out if it a “good G” or not almost instantly. The clarity VS₂ as mentioned in the description can also be verified by the dealers. Difficult as they seem to us, the people associated with diamond trade can quickly decipher these terms.

QUALITY

A carat is equivalent to 200 milligrams and can be described by such terms like four grains or 100 points. “20-pointer” would mean 40 milligrams and a “six-grainer” diamond would be 1.5 carats or 300 milligrams. “Light” is used by the dealers when a diamond is a bit less than common fraction. Like “light-half is used for a diamond weighing 0.45 to 0.49 as it is less than half a carat by a tiny fraction. There are several terms used for describing the variety of qualities such as Rough, Strop, Khazeray, Mame-zitser, etc.

Diamond District Jewelers

PRICING

Diamonds are not traded as per a price index as there are innumerable categories of diamonds. However, there is a pricing benchmark which is widely accepted and used in the 47th Street. Rapaport Price List is updated every Thursday at the strike of the midnight. The rap or sheet tells the company’s views on “high cash asking prices” for high quality diamonds.
Magic sizes · Diamonds weighing 0.5, 0.75 and 1 carat are considered best because the diamonds in these sizes are more exquisite and therefore more expensive. You can go for diamonds that are just shy of these sizes and get good bargain.  This is one of the most helpful tips to shop in Jewelry in NYC Diamond District.

CERTIFICATION

With increased awareness among the consumers, 47th Street traders are also offering certificates grading the technical specs. The certification by Gemological Institute of America (G.I.A.) is considered most trustworthy. Even though it doesn’t specify the value, it helps because value is based on technical grades. Consumers should never buy naked or ungraded diamonds that don’t come with certifications or proof of genuineness.
The best time to shop at the Diamond District NYC is 10:00 am to 5:00 pm from Tuesday to Thursday. If you are a busy professional, you might have to arrange for a leave as Diamond District NYC doesn’t work on Saturdays and Sundays. Jews, who influence the trade and have been a part of the business since ages observe Sabbath, from Friday sunset to Saturday sunset and that is why it holiday on these days.

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