Gleaming gold catches your eye. Welcome to the Jewelry District of Los Angeles. This vibrant area is a hub for all things jeweled. The Jewelry District is bordered by Hill Street, Broadway, 5th Street, and 8th Street.
The history of this district is as rich as the gold sold here. Most buildings you see were built in the early 20th century. Buildings here were built in 1923. One of the oldest buildings still standing is at 543 South Broadway Avenue. Today, Teresa’s Bridals occupies that space.
Interestingly, the Jewelry District didn’t boom until after the 1960s. Gold became a safe investment alternative to U.S. dollars. The California Jewelry Mart at 607 S. Hill Street was the main player before this surge. The opening of the Saint Vincent Jewelry Center boosted the district’s popularity. It was housed in the former Bullock’s complex. It even featured a European-inspired alley of restaurants.
Across from St. Vincent’s stood the State Theater building. Nearby was the Speckels Building, now a garment manufacturing center. The Provident Loan Association was also close. This not-for-profit offered short-term loans for gold and jewelry.
The buildings here were mainly designed for general office use. Retail spaces lined the street level. In the early 20th century, downtown Los Angeles developed rapidly. However, buildings were limited to 150 feet high. Architects and planners thought skyscrapers would cause overconcentration.
At its peak, over 5000 businesses thrived in the Jewelry District. Today, around 1500 retailers and wholesalers remain. Yet, the district remains a busy hub.
The Los Angeles Jewelry District is similar to the New York Diamond District. But it has a warmer, more relaxed feel. It is culturally diverse and fast-paced. Sellers are eager to earn your business. The district’s size can be overwhelming.
Finding something specific can be challenging. It may not come with the same guarantees as elsewhere. Some sales tactics here can be more aggressive than in New York. Prices often start very high. Bargaining is common. However, buyers may still pay more than online.
Is it safe to buy here? Yes, if you’re careful. Many jewelers have an online presence. Make sure they offer diamonds with grading reports from GIA, AGS, IGI, or GCAL. Compare prices with reputable online sellers. Don’t feel pressured. Ensure there’s an inspection and return period.
The Los Angeles Jewelry District continues to evolve. It embraces new technologies. The district maintains its place as a vital part of Los Angeles.