The Diamond District of NYC
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The Diamond District is made up of more than 2,600 independent businesses, all of them dealing in diamonds, jewelry, precious metals, and gemstones. Learn more about the Diamond District in this presentation.
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The Diamond District of NYC
- 1. The Diamond District of NYC A brief history of New York’s jewelry mecca
- 2. Diamond Districts Worldwide • There are many “diamond districts” throughout the world: • • • • • London, England Antwerp, Belgium Mumbai, India Ramat Gan, Israel Johannesburg, South Africa • But one of the most bustling centers for all things diamonds and jewelry in the western world is the Diamond District in New York City.
- 3. NYC Diamond District Location • The Diamond District is located on West 47th Street between Fifth Avenue and Sixth Avenue.
- 4. The Move to 47th Street • Originally, NYC jewelers and diamond dealers congregated in downtown Manhattan on Maiden Lane and Canal Street. • In the early 1900s, financial institutions began to show interest in moving to the downtown area, and rents began to rise. • Over time, buildings were erected specifically to entice jewelers to move to 47th street, and by the 1940s, the present day new NYC Diamond District had been born.
- 5. The Modern-Day Diamond District • The Diamond District is made up of more than 2,600 independent businesses, all of them dealing in diamonds, jewelry, precious metals, and gemstones. • While some jewelers have their own shops along this strip, most have booths in the 25 jewelry exchanges located in this area.
- 6. Sales Snapshot • The average day’s trade value in the NYC Diamond District is estimated to be around $400 million. • Approximately 90% of diamonds in the US enter through NYC’s Diamond District.
- 7. About MGS Manhattan Gold & Silver (MGS) is a precious metals refiner that has been based in Manhattan’s historic Diamond District since 1985. We are a B2B company that buys and recycles precious metal scraps that accumulate in other businesses. We serve: • • • • • • • • Jewelers Pawnbrokers Dentists The industrial sector Antique dealers Machinists Domestic mining And more! • MGS also creates charts, calculators, and other online tools for our customers to use. • Try our Precious Metals Prices app, which lets you monitor the real-time precious metals market situation from anywhere, right from your iPhone, iPad, or Android device.
- 8. Recycle your Precious Metals for Profit • MGS accepts gold, silver, platinum, and palladium. • Payouts are based on the London Fixing. • Up to 99% payout (among the highest in the US) • Up to 98.5% for gold brought in for hand testing. • Not in NYC? Ship us your precious metals using our Ship & Sell service which offers: • Same day wired payment (once lot is received) • Discounted, insured shipping • Payout calculator
- 9. Connect with MGS • For amazing facts, history and news, read our gold and precious metals blog. • Join the conversation about precious metals on the MGS page on Facebook. • Follow gold, silver, and other precious metal trends at the MGS Twitter account. • Circle MGS on Google+ to hear our latest updates. • If you do business with us, connect with us on the MGS LinkedIn page. • To see precious metal melting and refinement in action, visit the MGS YouTube channel.