Video would have been a great addition to this article, and a cultural record too. We could hear the people in the business speaking the language.
7
Great article! I learned a lot, and will have to start using some of these great Yiddish-isms!
This article brought back memories of my beloved father in law and brother in law who designed the settings for the stones. Their skills and artistry could hide the strangest defects in otherwise perfect stones, such as broken corners and inclusions.
I still miss them after many years.
I still miss them after many years.
4
Many thanks. This gives every appearance of being priceless information, at least for anyone who's capable of absorbing it and then putting it to effective use.
"A fool and his money are easily parted." The only diamond that I would consider genuine, with no indication of value, would be the one(s) stuck between the toes of a loin-cloth clad African miner who just happened into he store.
3
This article explains all the reasons why I would never shop for diamond on 47th Street.
3
I remember reading somewhere that "the greatest swindle in the history of the world is how the DeBeers company got people to equate diamonds with love."
10
The writer has made a crucial semantic error that perpetuates a disservice to all retail diamond buyers.
Certification of diamonds doesn’t exist; diamonds aren’t certified by the GIA or anyone else.
Specifically “GIA does not certify or appraise any material submitted for analysis. GIA reports (not certificates) offer technical information on the dimensions, quality and identifying characteristics of a diamond…”
http://www.gia.edu/gia-faq-analysis-grading-certify-appraise-diamond-gem...
Diamonds are technically analyzed and subjectively graded using a reporting scale developed in the early 1950’s by GIA. The result of the analysis and grading is a report. Unfortunately, this shell game of swapping “grading report” for “certificate” is used to bolster the diamond seller’s sale pitch by creating a false sense of certainty in a stone’s value; “This diamond is certified as a 3.01 G, VS”.
The semantics are important because certification implies that a responsible organization has performed an objective process and the result is documented with a certificate for verification. The implication is that the diamond has a “certified, verified” value.
Nothing could be further from the truth.
Certification of diamonds doesn’t exist; diamonds aren’t certified by the GIA or anyone else.
Specifically “GIA does not certify or appraise any material submitted for analysis. GIA reports (not certificates) offer technical information on the dimensions, quality and identifying characteristics of a diamond…”
http://www.gia.edu/gia-faq-analysis-grading-certify-appraise-diamond-gem...
Diamonds are technically analyzed and subjectively graded using a reporting scale developed in the early 1950’s by GIA. The result of the analysis and grading is a report. Unfortunately, this shell game of swapping “grading report” for “certificate” is used to bolster the diamond seller’s sale pitch by creating a false sense of certainty in a stone’s value; “This diamond is certified as a 3.01 G, VS”.
The semantics are important because certification implies that a responsible organization has performed an objective process and the result is documented with a certificate for verification. The implication is that the diamond has a “certified, verified” value.
Nothing could be further from the truth.
15
My Grandfather worked as a diamond dealer on 47th street for years. I have many fond memories of hanging out with him and his brother at a tiny booth/counter in the 1970’s. He did not show a lot of merchandise or stones and I always wondered how he made money— just a few conversations here and there, maybe a referral— “go see…”. The funnest part was going to lunch at the diner a few doors down. We could not make the walk without 4 or 5 people stopping him to say hello or talk business. I think he was very trusted and respected and I looked up to him for that.
We would go to the same place for lunch every time and I was free to get whatever and however much I wanted. The waitresses knew me, called me hun, and always kept the bowl of free half sour pickles on the table full. If I was there at the end of the day, I would watch him recount all the stones, make a few notes and then he would take me down to the basement where we would put them back into the safe.
Out on the street the big yellow school busses would drive down the street picking up the Hassidic dealers and brokers to return them to their homes. Those that were late would run down the street after the bus with their long coats and Payots bouncing around. Like a number of things on the street, I was amused by it, I did not really understand it and I was embarrassed to ask what was going on.
I think he worked there for years after he stopped making a real living. He feared the loneliness and liked the routine.
We would go to the same place for lunch every time and I was free to get whatever and however much I wanted. The waitresses knew me, called me hun, and always kept the bowl of free half sour pickles on the table full. If I was there at the end of the day, I would watch him recount all the stones, make a few notes and then he would take me down to the basement where we would put them back into the safe.
Out on the street the big yellow school busses would drive down the street picking up the Hassidic dealers and brokers to return them to their homes. Those that were late would run down the street after the bus with their long coats and Payots bouncing around. Like a number of things on the street, I was amused by it, I did not really understand it and I was embarrassed to ask what was going on.
I think he worked there for years after he stopped making a real living. He feared the loneliness and liked the routine.
20
Hard to understand how this article can help Gee.
Just avoid 47 st period.
Just avoid 47 st period.
9
When I was a child in rural New Jersey, we had a most valued and unusual neighbor - Leroy Strasberger, elderly scion of a German Jewish family from the New York gem trade.
I was fascinated by his tales of a bygone era: For example, how the post-World War II popularity of wrist watches had almost ruined the Strasbergers; they had been leading purveyors of expensive chains and fobs for the pocket watches that were now completely out of fashion.
The article's section about reputation in the Diamond District especially brought back this story:
When Leroy was being groomed to join the family business, he accompanied an uncle during his activities. One day, this relative met with a Chinese diamond merchant about taking some Strasberger gems on consignment.
The Chinaman examined a selection and took several he thought he could readily resell. He then carefully folded them into a piece of paper, put them in his pocket, bowed to the elder Strasberger, and walked out of the shop.
Leroy was astonished that his uncle had not asked for a receipt. "These Chinese are as honest as the day is long!" his relative explained. "Why, if that man has not paid off all his debts by his New Year, he will be duty bound to commit suicide."
I'd like to think that such trust across wide cultural divides hasn't gone completely out of our world.
I was fascinated by his tales of a bygone era: For example, how the post-World War II popularity of wrist watches had almost ruined the Strasbergers; they had been leading purveyors of expensive chains and fobs for the pocket watches that were now completely out of fashion.
The article's section about reputation in the Diamond District especially brought back this story:
When Leroy was being groomed to join the family business, he accompanied an uncle during his activities. One day, this relative met with a Chinese diamond merchant about taking some Strasberger gems on consignment.
The Chinaman examined a selection and took several he thought he could readily resell. He then carefully folded them into a piece of paper, put them in his pocket, bowed to the elder Strasberger, and walked out of the shop.
Leroy was astonished that his uncle had not asked for a receipt. "These Chinese are as honest as the day is long!" his relative explained. "Why, if that man has not paid off all his debts by his New Year, he will be duty bound to commit suicide."
I'd like to think that such trust across wide cultural divides hasn't gone completely out of our world.
16
Diamonds may be a girl's best friend but knowing the lingo greases the wheels.
6
Fascinating!
10