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April 11, 2003
Tale of immigrants worldwide
Diamond trading in New York is a face-to-face business based on
trust.
SCOTT J. TURNER SPECIAL TO THE JEWISH BULLETIN
Diamond Stories: Enduring Change on 47th Street
By Renée Rose Shield
Cornell University, Ithaca, 2002. 233 pages. $29.95 US
You have to be a people person if your handshake is all that is
needed to seal a million-dollar business deal.
Diamond Stories: Enduring Change on 47th Street is an inside
look at such people: the buyers, sellers and others who make a living
in one of North America's most secluded business settings –
the diamond district of Midtown Manhattan. Author Renée Rose
Shield, clinical associate professor of community health, observed
the comings and goings of individuals in the New York Diamond Dealers
Club and adjoining offices along 47th Street. She calls the club
"a main marketplace, social centre, hub of activities and pulse
of business."
Shield gained entry to the club through two uncles, both longtime
diamond dealers. The men were "known for their integrity, for
being sharp and tough in business, yet incredibly honest,"
she said. "People respected them and, if my uncles asked someone
to talk with me, they did."
An anthropologist, Shield studies the cultural aspects of aging
and health care for the elderly.
"I decided I was in the perfect position to look into the diamond
business, as I had unique access because of my family and my anthropological
training," she said. "In addition, I knew that many diamond
dealers work well into their 80s and 90s and, from an aging standpoint,
I was intrigued to find out whether there was something about the
diamond business that somehow helped people age well."
Diamond trading in New York is a face-to-face business. It is based
on trust. Reputation is all-important. If someone breaks that trust,
you do not negotiate with the person again.
"Dealers don't use contracts," said Shield. "Diamonds
are passed back and forth between skilled observers. They decide
instantly if the stones are of interest based on the needs of their
customers."
When a sale is reached, the parties, whether they are Jews, or dealers
from India, Japan or elsewhere, proclaim two words of Hebrew, "mazal"
and "broche," for "luck and blessing."
Shield describes the rich humanity that accompanies the act of trading.
She depicts conversations, comments and concerns among men and women
– some who have known each other for decades – as examples
of "how we are always looking for ways to connect."
"There is a compulsion or need that we all have to be part
of a social exchange," she said. "There is a joy in that
exchange, a survival. It is something positive, a hopeful force."
Arbitration of disputes among dealers is the industry's "crowning
glory," said Shield. It is based on talmudic principles of
mediation - letting each side have their say. Despite its ancient
roots, arbitration has adapted to the modern world.
"A lot of legal people look at this arbitration as a model
for mediation," said Shield. "The New York courts honor
it. It underscores the saying that 'to be a member of the club,
you have to abide by its rules.' "
Jews are long-standing players in the industry, one of the few open
to them over the centuries. But the book is more than about one
people.
"It is so much a tale of immigrants worldwide," said Shield.
"It is a universal story. In human history, people don't stay
put. They wander, get kicked out, stray and eventually gain a foothold."
Scott J. Turner is with the Brown University News Service.
This article was originally published in the university's George
Street Journal.
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