Mr. Cheap's Washington, published by Adams Media Corp., 2002

The Diamond Exchange

Wondering why there is no address? In 1996, The Diamond Exchange was robbed at gunpoint of almost all its inventory — the crooks left only a few pieces of jewelry in the window, just so no one would suspect anything amiss. Before the robbery, DE priced its jewelry with little markup and now the prices are even cheaper — at bare minimum. Owner Ira Kramer has no employees to pay, no mall or shopping center rent (just private office rent), no advertising expense, and no long hours; in fact, all business is done by appointment only when it is convenient for the customer.
Though the inventory is limited, DE's contacts are vast, so that any gold, platinum, diamond or gemstone jewelry can be ordered at the most competitive prices. Of course, diamonds are the specialty as the name suggests. Quotes are gladly given over the phone.
By the way, the FBI did catch the thief, somewhere in Pennsylvania, but not before he had robbed a total of 14 jewelry stores. Mr. Kramer says he likes the new, more flexible arrangement for his store.

(Before the robbery)
From: Mr. Cheap's Washington, published by Adams Media Corp., 1996
The Diamond Exchange
Loehmann's Plaza
5244 Randolph Road
Rockville, MD
301-770-0100

This small store has been pleasing loyal customers for over twenty years — which is one reason for its low prices. At this point, there's no real estate overhead built in. Another reason is the fact that the store does not offer in-house credit, which keeps the costs down. As a result, Diamond Exchange can price its jewelry with relatively little markup.

Their prices have been very steady over those years, too; unlike some dealers, DE doesn't raise its regular prices in order to mark them down for special sales. Best of all, notes Mr. C, a good proportion of these diamonds are secondhand, inspected and purchased carefully from serious collectors at market rates. These shrewd policies add up to well, a lot less than gems add up to elsewhere.

Though diamonds are the specialty of the house, there are other baubles here as well: Seiko watches, for example, are sold at 30% retail, across the board. The quiet, relaxed store is open Mondays through Saturdays from 10 AM to 6 PM, Thursdays and Fridays until 9.

info@diamondexchangemd.com  

The Diamond Exchange of Maryland
Rockville, MD
301-770-0100

with offices now in Tallahassee, FL
850-877-9800

©2003 Diamond Exchange of Maryland
Triratna Design Group