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New York's 47th St. diamond district - Part 1

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I have learned a few lessons the hard way the past two weeks, when dealing with the diamond district on 47th Street, NYC and I hope that my experiences will benefit others. I purchased a solitaire stone on 47th Street and armed with knowledge from your web-site and GIA's web-site, I think I eventually did O.K.

 

The big problem with shopping on 47th Street is that If I had not home schooled myself beforehand, I would have received very little information from the jewelers on 47th Street. The jewelers never really pointed out the negatives of the diamonds they showed me, unlessl I mentioned them. They are more sales oriented, not customer service oriented and this is not the area to shop for expensive solitaire stones unless you learn everything you can about diamonds beforehand. I eventually purchased my own magnifier because the jewelers loupes were so difficult to use and most jewelers really did not want me to look too closely at the stones.

 

Important advice to anyone looking on 47th Street is, before making a purchase and giving the jeweler your credit card or cash, find out what exactly it means when the jewelry store/booth tells you that they have a "return" policy and that you can "return" the stone/ring for any reason. It seems that very often on 47th Street, this does not mean that they will give you a refund, only an exchange. Tell people to get the refund policy verified in writing before paying anything. I know it seems simple enough but you can really become very dazzled and worn out with all of the jewelry stores in the district and they all tell you that you can "return" the ring. Return=exchange, not refund. Many stores do not post signs saying their return policy and I believe this may be illegal.

 

In addition, usually, when I purchase something in a retail store, my VISA slip will have the return policy printed on it, so I know exactly what I am signing for. My VISA slip did not notify me of any return restrictions from the jewelery store that I purchased a ring from on 47th Street, After I paid the jeweler, I was then presented with a store receipt which read "NO REFUNDS, EXCHANGES ONLY". I believe that the subtle semantics of return vs, refund can be confusing.

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As usual, a person like you discredits a whole street,industry and many hardworking honest people with your opinion. It seems your opinion is self-serving. Do you have your own diamond business and are trying to discredit 47th Street? If you can't blame the jeweler for selling you the stone, why are you saying she "lead" you to an appraiser? Contrary to your experience, there are legitimate appraisers on 47th Street.

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There may be legitimate jewelers on 47th Street but if you go to abc.com you can see Diane Sawyer interview some very unscrupulous jewelers in the Diamond District also. I would assume the poster unfortunately had a bad experience that is not uncommon in that District.

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We bought my engagement ring in Diamond District and are very pleased with the type of service we received. We went to an independant appraisal after and my diamond was appraised at exactly the same specs that our jeweler initially stated.

 

Yes, i understand why a lot of people can get disappointed while choosing that one engagement ring:

- a lot of hustling on the street

- people with heavy accents

- and of course, it is not like we buy diamonds every day, so it's stressful and overwhelming

 

But we were lucky, our friends referred us to these guys in 5 West - Sea Wave Diamonds, and we were not one bit hesitant about going to any other store.

 

They were very respectful, all about knowledge and education, showed us how to hold the loupe, how to use it, where to look and what to look for. They actually were on our side when choosing between VVS2 and VS1 stone. They said that VS1 is just as good as VVS2 but for a lower price, and inclusions are not vivid to a naked eye anyways so why overpay for something you don't see!

 

Just to let you know they are new on the street, very young (like late 20's early 30's) but i liked them far better than those other guys.

 

I am sure that there are plenty of other people on the block that have the same qualities, but from what i saw you better stay closer to 5th ave, rather than 6th. Stores that are closer to 5th seem to be more trustworthy.

 

Oh, and i also checked my guys on Yahoo local, yellow pages, and Merchant Circle and found other positive reviews about them.

 

If you are interested try checking other people there:

 

Yahoo! Local: http://local.yahoo.com/info-38953548-sea-wave-diamonds-incorporated-new-york

 

Yellow Pages: http://www.yellowpages.com/info-IY75731789/Sea-Wave-Diamonds-Inc

 

Merchant Circle: http://www.merchantcircle.com/business/Sea.Wave.Diamonds.Inc.212-730-8446

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Hi Guest,

 

I must say, this is a confusing thread. It sounds like you’re happy with your purchase but felt the return policy wasn’t fully disclosed to you in advance. Is that the gist of it? Do you even want to return it? I suppose I agree with you. You should not buy from ANY merchant, on 47th street or anywhere else without fully understanding the terms of sale before you do the deal. I would say this applies even if you're buying diamonds, tires, an insurance contract or a house by the way. A purchase is a contract and the higher the price the more important it becomes to understand the contract before you enter into it.

 

They can offer pretty much whatever terms the want but I recommend that shoppers adopt one of their own. NO REFUNDS = NO SALE. No price is sufficiently low and no description is sufficiently glowing to overrule this. There are lots of jewelers out there, including some on 47th street who will happily agree to this without obfuscating about what ‘refund’ means. If you are unhappy with your purchase within some reasonable proscribed time, say 10-30 days, for ANY REASON you should be entitled to a full refund as long as you return the merchandise in undamaged and unaltered condition. If they won't agree to this, in writing, in advance, hit the door.

 

They are under no requirement to agree to your requirements and many of them won't, just as you are under no requirement to do business with them. You have 100% of the power because you're the one with the money. If you can’t come to terms on this, simply move on. You don't even need to waste time looking at their merchandise or asking about prices. It’s not like they don’t have competitors nearby. :lol:

 

Neil

Edited by denverappraiser

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"- people with heavy accents"

 

 

Hoocheemama!! Code Red Alert!

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