[click on picture to enlarge - taken via iPhone]
I am taking you to one of the most fascinating block of the city: 47th St. between Fifth and Sixth Aves, known officially as the Diamond and Jewelry Way, but more commonly referred to as The Diamond District. At either end of the block, two enormous diamond-shaped pylons serve as a gateway to the district. The one pictured above stands on Sixth Avenue.
The district represents 60,000 jobs: 35,000 jobs on the block itsef and 25,000 jobs deriving from its activity (security companies, delivery services, nearby restaurants, gemological institutes,...). Did you know that 95% of the diamonds imported into the United States pass through New York? And that most of them are handled and cut on this block?
This is the place to go for bargains on diamonds, precious gems, gold and other fine jewelry. The block is jammed with stores, exhanges and booths. Generally, the quality of the jewelry decreases as you approach Sixth Avenue, with the higher-end stores on Fifth Avenue.
Most dealers are Hasidic Jews for whom diamonds are the family business. And business deals between dealers are still made following ancient traditions and Talmud laws. A handshake between two gentlemen in the street accompanied by the words "mazel and broche" (good luck and blessing, in Yiddish) can seal a hundreds of thousands dollars deal worth of diamonds. Ironically, retail transactions are backed up by extensive legal paperwork (appraisals, receipts, gemological certifications, insurance forms, etc.).
9 comments:
Love the diamond shaped pylon. Does it light up? I didn't know there were so many jobs in the diamond district. Did you do any shopping while there? Or are you saving all for your loft? :)
That's a fantastic shot. Love it. Sixty thousand jobs in that little district, huh?
I never understood why people spend ridiculous amounts of money on diamonds.
(Yeah, he knows how lucky he is and not only because of the diamonds... B))
Quick! Show us a diamond on your hand now! We wanna see it! We wanna see it! We wanna see it! haaaa...
good morning.
:)
95% of diamonds imported in USA area cut and treated there? Ah... Aaand do you know if they sometime lose some stone? Should be interesting to walk there aroud :-)))
do you have lots of bling blings? :-)
Very nice photo and thank you for the text (we are always learning!)
I must say - I LOVE New York City! First time I was there was New Years' Eve 2003, and I fell in love with it. So since then, I try to make it to NYC every Christmas + New Years' holiday season. I am actually hoping to move there sometime soon. But I came across your blog and I fell in love with the city all over again. You take great pictures. I will write-up a post on my blog at Crumpled Nothings! about yours. Amazing work.
Keep it up.
•clueless: I think it does. He, he, yes better start saving seriously for that! :D
•fénix: amazing, eh? I can understand to an cetain extend - it is sort of an investisment that you can pass from generation to generation, and keeps its value. But the fascination for the bling bling ring? I don't get it.
•photolicious: you crack me up. :D
maria elisa: hi :)
•fabrizio: I don't think you stand a chance! But it is indeed interesting to walk around. I see them very often in my plane when I go back to Belgium. They head to Antwerp, another diamond center.
•keropok: nah- my favorite necklace cost about $20 and makes every black t-shirt look good.
•xana: thank you - I am learning too!!! :)
•sachinrb: thank you very much. It is a fascinating city and the holliday season is very special here. Glad your dream is coming true. :)
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