What is the Diamond District?

New York City’s Diamond District, also known as Diamond and Jewelry Way, is situated on 47th Street between 5th and 6th Avenues. As the largest consumer market for diamonds in the United States, over 90% of diamonds entering the country come through New York, with many being sourced from the bustling Diamond District. This vibrant area boasts more than 2,600 diamond businesses, primarily housed within 25 specialized jewelry exchanges, showcasing around 100 varied merchants per exchange. Although many shops focus on wholesale clients, retail customers can also benefit from significantly reduced prices—often up to 50% off retail!

While exploring the Diamond District, you can discover a wide array of fine jewelry options. To ensure you make informed choices, it is advisable to familiarize yourself with diamond terms and standards. Conducting prior research will enhance your shopping experience and arm you with the necessary knowledge to navigate the complexities of diamond purchasing. Additionally, the 47th Street Business Improvement District provides resources for consumers looking to educate themselves about diamonds, jewelry, and precious stones.

Shopping Tips

• Be aware that shops situated closer to Fifth Avenue generally have higher prices compared to those nearer to Sixth Avenue.
• Steer clear of stores lured in by “hawkers,” as they often earn a commission for bringing in customers.
• When making a purchase, always request a detailed receipt that contains relevant information such as the store’s name, address, contact number, raw material details, and assurances about the jewelry features like carat weight and clarity. This documentation could be crucial should any disputes arise later.

The Diamond Dealers Club and the History of the Diamond District

The history of New York’s diamond and jewelry sector traces back to Maiden Lane, where it commenced around 1840. Presently, the Diamond Dealers Club serves as the largest diamond trade association in the U.S. and is located at 47th and Fifth Avenue. Originally, the organization was based on Nassau Street, but a surge in membership post-World War II—largely due to European diamond dealers immigrating to the U.S.—compelled the club to relocate uptown. This pivotal move solidified 47th Street as the primary Diamond District, where activities range from importing rough diamonds to the production and selling of exquisite diamond jewelry.

Diamond District Basics

• Location: 47th Street, between 5th and 6th Avenues
• Phone: 212-302-5739
• Nearest Subways: B/D/F/M lines to 47th Street/Rockefeller Center
• Hours: Open daily from 9:30 a.m. to 5:30 p.m., although fewer shops are available on weekends, particularly as many owners observe the Sabbath and are closed Saturdays.