There is one block in New York City where you can buy a $500 engagement ring or a $500,000 diamond necklace — often within 50 feet of each other. It’s 47th Street between Fifth and Sixth Avenues, and it’s known worldwide simply as the Diamond District.

We’re based here. Suite 906, 9th floor, 30 W 47th Street. We’ve watched this block change over 15 years, and we know it better than almost anyone.

What Is the Diamond District?

The Diamond District is a single city block — W 47th Street between 5th and 6th Avenues — that houses the highest concentration of jewelry dealers and precious metal buyers in the United States. Estimates put the daily value of goods traded here at over $400 million.

The block is lined with storefronts at street level, but the real action is upstairs. Multiple floors of office buildings contain hundreds of individual dealers, jewelers, setters, polishers, appraisers, and buyers — many operating in small booths within shared exchanges.

A Brief History

47th Street became the center of the American diamond trade in the 1940s, when Jewish diamond dealers fleeing Europe relocated to New York. The Diamond Dealers Club, founded in 1931, moved to 47th Street and became the regulatory body governing diamond trading in the area. For decades, the block operated almost entirely in cash and handshakes — deals worth millions sealed with “mazel and bracha.”

What’s Actually There

  • Retail jewelry stores — Selling finished jewelry directly to the public
  • Diamond dealers — Wholesale and retail loose diamond sales
  • Jewelry exchanges — Multi-vendor marketplaces inside larger buildings
  • Precious metal buyers — Buying gold, silver, platinum, coins, and estate jewelry
  • Watch dealers — New, pre-owned, and vintage luxury watches
  • Repair shops — Ring sizing, stone setting, polishing, engraving
  • Appraisers — Independent GIA-certified appraisers

Selling in the Diamond District

If you’re selling — gold, diamonds, watches, silver, platinum — 47th Street is one of the best places in the world to get a fair price. Buyers here deal in volume, have direct market access, and compete with each other, which generally drives offers up compared to suburban jewelry stores or pawn shops.

  • Get multiple offers — walk into 2–3 buyers and compare
  • Know roughly what you have — understanding your gold karat or diamond carat helps
  • Bring documentation — GIA certificates, original receipts, appraisals
  • Don’t accept the first offer if it feels low

Tips Before You Visit

  • Getting there: Closest subway is B/D/F/M at 47–50th St Rockefeller Center, or E/M at 5th Ave
  • Best time: Weekday mornings 10am–12pm are typically least crowded
  • What to bring: Whatever you’re selling or want appraised
  • Safety: Professional environment with extensive security infrastructure

We’re at 30 W 47th Street, Suite 906, 9th floor. Walk-ins welcome Monday–Friday 10am–6pm.