Diamond District Struggles to Keep Up

The Diamond Dealers Club was founded in 1931 and has more than 2,000 members.
The Diamond Dealers Club has been in the same place since 1984 but it has made many improvements here lately. The beefing up of there website is one of those changes. They thought they were going to change the location but decided against the move. The Diamond Dealers Club has been almost like a ghost town the last few months with just a few dozen men haggling over the precious stones. A few people are worried about the diamond business and tend to the think the future diamond business will be changing. Smaller merchants are not doing so well with the pressure from the overseas operations on them. Also with the ever growing online diamond business it is squeezing out the minor players of the game.

The diamond industry also had public relations hit when the new film “Blood Diamonds' came out on the big screen. They are also afraid people will turn to the synthetic diamonds which are a little bit cheaper. The industry itself is still doing well it is just the people who are making the money who is changing. Club executives are saying that doing there business through the Diamond Dealers Club is still the safest way for members to buy and sell stones, not to mention getting a good price.

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