Diamonds New York
The Diamond District in New York City dazzles as one of the world’s largest centers of diamond business. Roughly 90% of all diamonds in the United States enter through this concrete jungle. Although there are a handful of other centers for diamonds New York offers consumers and suppliers in the United States the most concentrated array of diamond shops. One of the greatest reasons to visit the New York City Diamond district is for the wonderful discounts the shops offer, in comparison with larger department store prices. But another aspect that might draw in an interested diamond customer, is the history the district is rooted in.
Located on 47th Street between Fifth and Sixth Avenue, the NYC Diamond District has its own street name called “Diamond Jewelry Way.” Customers can browse along the diamond shops and end up at Rockefeller center to catch a mid- day matinee performance! This row of diamond shops concentrated on this particular street in the 1920’s after a number of social and economic factors affected the location of the New York City Diamond Stores.
Prior to the 1920’s the NYC Diamond District was located downtown, near Canal Street and the Bowry. This downtown location moved to the financial district in 1931. The diamond center for business was located on a street called Maiden lane. New York residents and out- of towners visited Maiden Lane when they were searching for jewelry pieces such as diamond necklaces, engagement rings, earrings, and other fine jewelry pieces. During that time period, New York City had a rough reputation, but the world was taking notice of the special diamonds on Maiden Lane. Immigrants from Europe began to immigrate to America, and a large influx of Orthodox Jews took the market by storm with a slew of new diamond shops. In 1924, the New York Times stated that “the bride-to-be who could show a ring from Maiden Lane was thrice happy.”
In the late 1800’s some jewelers tried to move their stores away from maiden Lane in order to differentiate themselves, but wound up moving back to the row because of the loyal customer flow that often filtered through the diamond shops. In the 1910’s the big move to 47th street started when financial companies bought out space on maiden lane, driving the diamond district closer to the posh Madison avenue. There continues to be a heavy flow of consumer traffic today in the diamond district. Currently under construction, the “International Gem Tower” will add a high-rise appeal to the area with 34 beautiful stories studded with diamond sellers.
When considering how important the diamonds New York district is, it is important to consider this area among the top diamond centers in the world to understand how the global distribution affects the consumer market. The major centers of the diamond industry are located in London, Antwerp Belgium, Mumbai, India, Ramat Gan, Israel, and Johannesburg South Africa. Important to note, is that the India and South Africa diamond industries are primarily based on the mining and refining aspects of the diamond selling process. Controversy has clouded these major diamond exporting centers due to the conditions laborers face in these countries. The world’s eyes have been opened to the issue of blood diamonds and the serious problems many diamond workers face in the field. Currently there are a number of certifications and preventative measures being put into place in order to save the lives of those diamond workers who are in such a terrible position. Other diamond importers and distributors are becoming more and more aware of the dangerous diamond conditions and hopeful steps are being taken.
New York City and Ramat Gan, Israel have similar roles in the diamond distribution and consumer market. Once the diamonds are mined in Africa or India, large companies distribute final jewelry products or loose diamonds to stores and consumers. But undoubtedly, if you want to take a stroll down the street and choose your own dazzling diamonds New York diamond district can’t be beat.
