The jewelry industry, including New York Loan Company, owes much of its success to diamonds and diamond jewelry. The complicated and fascinating history behind these stones has intrigued millions over the centuries, including the gemologists at New York Loan and its sister store Beverly Loan Company. To understand why diamonds are as popular as they are, and why they have commanded such high prices, you need to go back to the beginning.
Diamonds are thought to have first been traded in India in the fourth century and gradually made their way to Western Europe through different trade routes and caravans. The diamond at this time was thought to be many different things including: healing agents, splinters of stars that fell to the earth, protective talismans, and tears for the Gods. Sometimes called a “miracle stone”, diamonds were thought to cure stomachaches, depression and many other ailments.
Diamonds started becoming fashionable in Europe in the 1400s; this is also when the first diamond cut was developed, now called the point cut. In 1477 the first diamond engagement ring is presented to Mary of Burgundy – starting the trend of men proposing with a diamond. This is a tradition that still stands strong today, and that New York Loan Company recognizes as they buy, sell, and loan on engagement rings on a daily basis.
Jean–Baptiste Tavernier, a French gem merchant, is known for his discovery and sale of the 116 carat Tavernier Blue diamond. He sold the rare blue diamond to King XIV of France in 1668. This diamond was later cut by the king to a 68 carat diamond called the French Blue. It was later stolen in the French Revolution and appeared recut in London 30 years later. This diamond is now known as the Hope Diamond.
The Dresden Green Diamond, a 41 carat natural green diamond that was acquired by Augustus III of Poland and was thought to be found in 1722; at least according to a London newspaper. This diamond is still helping researches today discover how different elements and conditions create natural fancy colored diamonds.
By the late 1700s diamond supplies in India started to decline. Brazil then started becoming an important source for the world’s diamonds, and controlled the market for over 100 years. The late 1700s brought worldwide political upheaval, like the French Revolution, and prompted a lot of change in the diamond market; mainly due to the decline of the upper class.
The 1800’s brought new wealth to the United States and Western Europe – and the discovery of diamonds in Africa. The discovery in Kimberly, South Africa by Cecil Rhodes established De Beers and the beginning on the modern diamond market as we know it.
Many of the world’s largest and rarest diamonds have been found in Africa, establishing the continent as a central source for the world’s hardest substance. There are currently diamond mines all over the world, including the United States, Russia, Canada and Australia. The current diamond market would never exist if not for its long and legendary role in history. Diamonds now signify love and respect, and hold sentimental value for millions all over the world.
The current United States diamond market is centralized in New York’s Diamond District, where New York Loan Company resides in the new International Gem Tower. New York Loan Company and its loan officers specialize in diamonds and diamond jewelry – as gemologists they take great pride in evaluating and authenticating diamonds.
Please contact New York Loan Company at email@example.com or 212-997-5626 to purchase, sell or make a pawn loan against diamond jewelry, as well as gold, watches and fine art.