Thanksgiving Day plus One started the Holiday season on West 47th Street. Accordingly the majority of the ground floor exchanges extend their operating hours and stay open every ding-dong day until Christmas. Throughout the week regular customers and natives to New York flock here, but on the weekends they are replaced by busloads of tourists from Shawallagah, PA or Dover Delaware. Armed with a box of chicken and a bag of quarters, they gawk at the jewelry and demand incredulously, "Those aren't real diamonds, are they?"
"All of our diamonds are real and set in 14K and 18K gold or platinum jewelry," I answer cordially, for the most part.
We might enjoy poking fun at these out-of-towners, yet their purchases can only add to our profit line, so once they're in the store we treat them as we would any valued customer, even if they're only looking for a Big Apple charm or want to tell us about an opal ring their great-grandaunt possessed back in Schwallaga, PA. As my boss says, "Be nice. It can't hurt."
While my company prided itself in dealing relatively fairly with members of the trade and our customers, there are a few diamond dealers who prey on these unsuspecting tourists like wolves tailing a cripple calves and every year ABC NEWS1 20/20 puts out a report to warn about unscrupulous diamond dealings on 47th Street.
Typically during holiday season the show's producers send out a young man to purchase a diamond engagement ring and inevitably ends up getting nailed by the same dealer on the corner of Sixth Avenue. The entire process of the sale is recorded by a hidden video camera to reveal the dealer's misrepresentation of the diamond's quality.
Weeks later Diane Sawyer will confront the dealer with the proof of his lies and close with a warning for the public to beware. One would expect that the dishonest merchant would be punished by such negative publicity, however the dealer points to the photo of Diane Sawyer hanging on his wall and proudly states, "Diane shops here every year. One of my best customers."
To avoid getting fleeced, we suggest anyone looking for a diamond to head up to Tiffany's or Cartier first and get one of their diamond buying guides, which are free and offer a great thumbnail source of information to the novice.
Otherwise caveat emptor. Let the buyer beware and remember if it sounds to good to be true than it is too good to be true.
For any questions on jewelry or the diamond trade stop by 34 West 47th Street.
The first piece of advice is always free.
Everything thereafter cost. How much? Depends on the day.
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