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Our last article dealt with
the way in which the deals are done for the stones that finally end up as the
showstoppers in your favourite jewelry. We also read up about how the Diamond
District in New York came about. This article will look to find the main
reasons why NYC is the best place to buy your diamond jewelry.
Why NYC is the best place in
the world to buy diamonds?
There are few places on earth
that can go toe to toe with the Big Apple on any and all parameters. If Paris
is the gateway to European trends and fashion, Milan is the cutting edge
fashion capital of the world and Berlin is where the avant-garde resides… NYC
is by far the most cosmopolitan, stylish and all encompassing city of them all.
Little wonder then that NYC is one of the world’s top shopping destinations.
Saks 5th Avenue, Barney’s and
Sears are just some of the most iconic shopping meccas in the world. The Upper
East Side and the Village are hubs for the uber stylish to attend the latest in
gallery openings. Not to mention the culture and art scene characterized by
Broadway and Manhattan. Why then would this not be the perfect place to buy diamonds.
1) You are always assured of
new styles: NYC is one of the trendsetters in world fashion, by default then,
if there’s something particularly offbeat and eye catching you seek, this will
be the best place to get it! Fashion stylist Anne Bryce, has this to say, “when you think about style and fashion,
there are few places that compare to New York. With a vast majority of diamonds
in North America passing through NY’s diamond district and the sheer number of
establishments dealing in fine jewelry, it is almost assured you’ll find the
best pieces here!”
2) There’s something for
everyone: New York has something for everyone, in every sense of the word. If
you have a good time in mind, you could easily dine at the some of the world’s
best restaurants here, if you have the budget for it. Or you can simply grab a
hotdog in Central Park or Riverside. This is true in the case of diamonds as
well. Whether you want your lady to have a rock that will bowl her over and
make her the envy of her friends, or you’re looking at a modest sized stone,
the diamond district will have something for either end of the budgetary
spectrum.
3) It is called the Diamond
district for a reason: If you’re thinking about range, picture this, almost
2600 establishments, from the uber chic to the family owned jewelry businesses,
to firms that specialise in estate jewelry, the Diamond district has them all!
It is after all called the Diamond District!
Things to beware of when
shopping for diamonds in NYC
● Bright light makes everything white:
Examine the diamond in the natural light of day, outside the store to be sure
of its true colour
● Heavily marked down prices: If the price of
a diamond is too good to be true, it probably isn’t, beware of heavily marked
down prices
● Beware of fake, artificial or lookalike
stones
We hope these tips will help
you buy right and avoid being duped. Do let us know your feedback in the
comments section below.
New
York. One word that brings to mind
all the sights it is famous for, the Statue of Liberty, the Empire State
Building and the famous Rockefeller Centre. Little does one know that this city
of nearly 13 million people is also one of the world’s leading centres of the
diamond trade. Along with Antwerp in Belgium, London, Paris and Munich, New York is one of the leading cities in terms of buying and selling diamonds.
Before exploring the city’s diamond district, it would be quite beneficial to
understand the way in which the diamond business functions.
From
the mine to the bourse:
We
all know that diamonds are nothing more than carbon atoms that have withstood
tremendous pressure for millions of years. Now for the more ‘practical’,
business part of the transaction. De Beers is one of the world’s largest
diamond manufacturers and the foremost diamond mining and supply house.
Commercial jewelers and others purchase their diamonds from wholesalers like De
Beers. Most of the world’s rough diamonds pass through bourses in Antwerp. This
is where representatives of most of the commercial jewelry houses seek out
traders and settle business with them. The entire transaction takes a short
time and is completely based on the rapport a representative shares with a
trader.
From the
bourse to the polisher:
Once
purchased, rough diamonds need to be polished and cut in order for them to be
set in pieces of jewelry. Most of the world’s diamonds are cut and polished by
skilled artisans in Surat, India and some other places in Europe. Surat is one
of the world’s most precise and sought after diamond processing hubs, because
of the high level of skill and finesse of its artisans. It is said that the
fashioning of a diamond into a gemstone is a science and an art, that is handed
down from one generation to the next here.
From
the polisher to the jeweler:
Once
polished the diamonds are dispatched to jewelers who fashion stunning ornaments
for the consumer. Based on trends, popularity, demand and customer requests,
design of the jewelry is determined. The rarity of the diamond, its size, the
clarity and cut of the stone and its carat weight, determine the price of the
piece of jewelry.
New
York’s diamond district:
New York City's Diamond District, also
known as Diamond and Jewelry Way, is located on 47th Street between 5th and 6th
Avenues. It's hard to believe, but the area is home to over 2600 diamond
businesses, many of which are located inside of the street's 25 jewelry
exchanges. Each exchange is home to about 100 different merchants, each
independently owned and operated, but there are also larger stores along 47th
Street for shopping as well. In the Diamond District, you can find just about
any type of fine jewelry you desire, which makes it a great place to shop, and
prices can be as much as 50% off of retail. The shops cater to both wholesale
and retail clients, but you'll have the best success shopping if you've done
your research and know what you're looking for.
History of New York’s Diamond District:
New York's first diamond and
jewelry district was actually located on Maiden Lane, beginning around 1840.
Today, the Diamond Dealers Club, the largest diamond trade organization in the
U.S., is headquartered on 47th and Fifth Avenue. Originally located on Nassau
Street, membership grew after World War II as many diamond dealers immigrated
from Europe, necessitating a larger location, and thus its move uptown to 47th
Street from its original downtown location. The move established 47th Street as
New York's Diamond District, where businesses handle everything from the
importation of rough diamonds to production and sale of fine diamond jewelry.
The
romance of jewelry is a well documented love affair. Do you remember watching a
movie, in which the protagonist does not propose marriage to his beloved with a diamond? Jewelry, people say, helps us express those emotions, that we cannot
express with words. How though, did this trend come to be? In our first part,
we examined the evolution of jewelry from the ancient to the middle ages. This
part will continue that trend and also answer the question, who invented the
trend of proposing with a diamond ring?
In
the medieval times:
The
medieval times were among the darkest times in human history. Also known as the
dark ages, they were a time of religious persecution and oppression. It was
also at this time that the world got its first taste of quality jewelry. The
Turks having conquered Constantinople, in 1453, had barred the land trading
route between Europe and Asia. This fuelled the era of European seafaring, in the hope of finding an
alternate route to the Indies and Asia. It was around this time that
Christopher Columbus accidentally discovered the continent of America and with
it, her vast untapped mineral reserves became available to the Europeans for
the very first time.
From
the ‘new’ world came vast quantities of gold, newer unexplored minerals and
stones like jade and rubies. This led to a boom of sorts, where newer and more
intricate jewelry started being fashioned for the wealthy, those of
aristocratic leanings and for kings. The story of how Louis XIV had his royal
jeweler fashion a new cut of diamond shaped like his amour’s lips is legendary.
So was the Russian Royal family’s obsession with the famed Faberge egg.
But
probably the most famous of all the royal associations is that of the British
Royal family’s with the Kohinoor. Arguably the most famous gem in the world,
the Kohinoor was acquired by Queen Victoria, after the Queen’s proclamation of
1858, that formalised British rule in India. The Kohinoor was part of the
reparations the Indians were levied with for inciting and participating in the
Sepoy Mutiny of 1857. A list of the owners (erstwhile) of the gem is a virtual
who’s who of world history, from Nadir Shah, to Shahjehan and then the Queen of
England.
In
modern times:
Jewelry
has evolved to being more of a style statement today. “Diamonds and rap have become almost synonymous. The bling tradition,
where the more ice you have on your person means the higher your social
standing is a direct correlation between hip-hop and diamonds,” says Lydia
Dunham, a celebrity stylist, “Some of the
biggest consumers of diamonds are the modern royalty, like movie stars and
A-list celebrities.” Today, you aren’t in love until and unless you are
displaying a one-of-a-kind diamond ring. This trend was popularised by the De
Beers Diamond Company. Likening diamonds to eternal love was a marketing
masterstroke. Infusing popular culture with diamonds saw the golden age (pun
intended) of the trade come into being. The line, “Diamonds are forever”,
changed the way we perceive diamonds.
Jewels
in popular culture have been celebrated as the ultimate symbols of love. So
much have they pervaded our lives that we’ve named movies, books and even
children after them. The use of jewelry these days is, as a unique reflection
of your personal. There may have been wars fought to secure jewels, but for one
thing, they will always remain an intensely personal experience!
Jewelry
has always been synonymous with emotions. Take for instance the wedding band,
always a sign of commitment, love and togetherness, it symbolises the coming
together of two souls in the bond of holy matrimony. After man’s three basic
needs of food,clothing and shelter were met, the emotional bonds that tied us
together, needed to be symbolised and eternalised, at its very core, that
became the function of jewelry. In our upcoming series, we will trace the
origins of jewelry until the modern day and examine the style, the ethos and symbology of jewelry over the ages.
In
the ancient times:
Jewelry
has its roots in the ancient times. Millennia before the birth of Christ, bead
jewelry in the cave systems of Europe and Africa have been unearthed. While most
of these civilizations have long since vanished the very fact that they
existed, is proven by the unearthing of their jewelry. Among the more civilised
cultures of the Orient, metallurgy was practised and in combination with
precious stones and pearls, jewelry, in the form of necklaces, rings, anklets
and other ornaments (which are still in vogue today) were made.
In
fact such was the prowess of the jewel smiths of India and China, that even
Alexander the Macedon was captivated by their craft and is said to have
commissioned a number of ornaments for his concubines and mistresses. Some
historians believe that Alexander was among the first non-Westerners to have
carried some of these designs home, from where the trend of jewelry is said to
have spread to Europe.
While
jewelry in India and China was widespread and even the common folk had some
access to these baubles, jewelry was the prerogative of the wealthy in the
Egypt. The Ancient Egyptians seemed to have taken jewelry to a whole new level.
Their fascination towards ornamentation bordered on the obsessive. Many statues
of the Gods and Pharaohs (who themselves became ‘Gods’ posthumously) were
ostentatiously bedecked and swathed in ornaments of different metals and
precious jewels.
Another
important contribution of the Egyptians to jewelry was the custom of trading
wedding rings. It is said that when an Egyptian of high birth took a woman to
be his wife, he would gift his spouse a circlet of any metal (according to his
status) and she in turn would do the same. This custom was then adopted by the
Romans, who through their conquests spread this aspect of culture across
Europe.
By
the time of the decline of the Roman Empire, the practise of exchanging rings
had become an accepted social custom which the Church gave credence to by
blessing the rings of a couple on the altar before they were exchanged by
husband and wife.
The
Middle Ages:
The
decline of the Roman Empire, saw Europe in chaos. By this time, many of the
noble families in the region were great patrons of jewelry. Gold and diamonds
from India, were regularly ferried to Europeans by the Arabs who had become the
ideal go-in-betweens for this burgeoning trade. The Church in particular had
become rich and jewels for the purpose of studding religious artefacts was a
common practise. This practise gave rise to a class of artisans, who in turn
were the modern precursors of jewelry design houses like Tiffany and Cartier.
We
hope this post has shed some light on the evolution and distribution of jewelry
over the ages. Do let us know about what you thought of it, in the comments
below!
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