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Diamond buying in NYC

post #1 of 4
3/16/10 at 5:17pm
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I'm going to propose and am thinking of heading to the diamond district in New York to try to get a better value/more stone for the money. Does anyone have experience with particular stores? Have recommendations? I know what I'm looking for, I'd just like to try to find a better price that Blue Nile.
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post #2 of 4
3/16/10 at 5:46pm
Can't help you with the diamond district, but I had a good experience with the online retailer Whiteflash.com. When I was pricing, I got a better diamond from them than I would have at the same price point at Blue Nile or Tiffany.
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post #3 of 4
3/16/10 at 6:45pm
The Diamond district is notorious for being tough to get a good deal if you don't know what you are doing.

Best thing would be to have a friend or family member with a trusted contact they could recommend and help you with on 47th St. If you are confident in your level of knowledge, and you stick to GIA stones, you might be able to do very well on 47th St.

If price is your main parameter, Whiteflash.com and Tiffany couldn't be more different.

I think it was Foo that pointed out a good plan. Go to brick and mortar stores like Tiffany and even Harry Winston to physically see something very close to what you want.

Then, learn enough as a buyer, to be confident in your buying decision and buy from an on-line wholesaler. Blue Nile and White Flash are both good though there are plenty of others. I wouldn't cut a hair too fine and spend too much time trying to save $100 or $200. When you find just what you want and the price seems right, pull the trigger.

Finally, I know a lot of people in the business. Almost all of them say that business is way off ( though prices are officially not way off ). It is definitely a buyer's market. Again, if you have the time and confidence, you can get incredible deals in private sales. This would be things like estate sales or even placing WTB ( want to buy ) ads.
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post #4 of 4
3/16/10 at 8:08pm
rnoldh, were your friends specific in what segments of the diamond business are down? Anything about the demand for engagement rings, in particular?
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