Europeans invade New York for holiday shopping

by Iva Skoch on

It’s been a while since anyone has called New York the “bargain place”. This year, New York might as well use it as a city motto. With strong currency working to their advantage, Europeans have been coming to New York in droves to do all their holidays shopping.

Today’s NY Times had an comparison table of London and New York prices. Here is an example:

  • New York prices – 8 Gigabytes iPod Touch: $299, Levis 501 jeans: $58, Starbucks Grande Latte: $3.75
  • London prices – 8 Gigabytes iPod Touch: $398, Levis 501 jeans: $120, Starbucks Grande Latte: $4.80

How many iPods do you have to buy to make the trip worth it though? Air tickets are really expensive before the holidays and New York hotels–trying to capitalize on the strong Euro/Pound are charging more than $400/night for a hotel that used to cost about $100 just a few years ago…

I have heard from Londoners that having a fun weekend in London will cost you more than flying someplace for the weekend. London is so expensive now that the only way to save money is to leave it. Quite a concept!

Overseas (bargain) shopping trips

by Jerry Guo on

Here’s a story from this week’s New York Times on the rising trend of Europeans flying to New York to bargain shop. What stands out here is not that these are posh socialites getting their fix on 5th Ave. We’re talking about average Joes (more like Janes, I suppose) who fly to the states specifically to take advantage of the depreciating dollar and holiday deals.

Several airlines are apparently offering promotions to encourage this kind of things. For instance, on Silverjet, a roundtrip, business-class ticket was marked at $2,000. Not a bad deal, but sounds like you’ll have to do a heck of a lot of shopping to recoup your startup costs.

Are diamonds forever? a best friend? Best place to get them

by Jamie Rhein on

I’m not a diamond kind of gal. I don’t quite get the fuss, but when I saw the Hope Diamond at the Smithsonian National Museum of Natural History this summer I thought, now that is impressive. If you are a person who is into diamonds, heading to the Diamond District in New York is one way to save lots of money for a gem–more than 50 % if you hit the right dealer who is willing to bargain down.

That’s because almost all diamonds entering the U.S. have a New York City stopover where they are cut, polished and sold before they end up in jewelry stores elsewhere. Reading about the Diamond District in Si Liberman’s article in the Columbus Dispatch reminded me about going a mall of outlet stores, but the deals are better on the diamonds.

I did receive a diamond as a gift once. It came in a small plastic bag, with a zip-lock top. From what I recall my friend got it from his sister’s best friend’s father’s jewelery store. The store was out on Long Island, but the father made frequent trips to the Diamond District for his diamond goods. My friend explained how he picked it because it had the elements of an excellent diamond: cut, color and clarity. It wasn’t big (carat weight is the other value marker) because that would have knocked it out of his price rang. He bought the best he could afford and I had it made into an earring, but alas, it was stolen one of the few times someone broke into my apartment when I was living in Albuquerque. This was one of the only two pieces of jewelry taken. Someone knew what he was doing. (The photo diamonds are fake.)

If you do go to the Diamond District don’t just buy from anyone. Make sure you are at a reputable dealer and find out if the diamond has been altered to get rid of flaws. It doesn’t mean you shouldn’t buy it, but the value isn’t as high.

Ten Thousand Villages: Don’t forget the festival sales!

by Kelly Amabile on

It’s never too early for holiday shopping tips, right? I was in Media, PA last weekend, which is officially known as America’s First Fair Trade Town. Its’ quaint main street is home to a variety of earthy shops, organic markets (including a Trader Joe’s) and its very own Ten Thousand Villages, a spectacular fair trade gift shop with artisan treasures from around the world. Since 1946 the company has supported the work of craftspeople in over 30 countries in Asia, Africa, Latin America and the Middle East.

I love shopping at this store — I’ve bought several gifts at their Media, Bethesda and Baltimore locations, but was disappointed last holiday season when I was unable to find any of their shops in the NYC area. I was stumped, but went back to their website for a closer look. I searched the festival listings and discovered that they had a booth at The Bryant Park Holiday Shops in Manhattan. Bingo! Although the selection was much slimmer then their retail locations, I was still able to find some suitable (and fun!) fair trade gifts.

Keep this in mind as the season of giving gets underway — or go shopping right now in support of Fair Trade Month! Although their stores may not always be located in the “big” or most obvious cities, Ten Thousand Villages merchandise is available at a plethora of these holiday sales and festivals across the U.S. and Canada.

London Rents Beat Fifth Avenue by $50

by Iva Skoch on

Thanks to the crumbling dollar, the US is losing yet another transatlantic battle of the richest. According to The Guardian, it is no longer home to the world’s most expensive shopping street. New York’s Fifth Avenue was replaced by London’s Old Bond Street, where annual rents per square foot are $1,400.

Bad news for the competitive New Yorkers. Good news for shopaholic Londoners, already booking their Christmas-shopping air tickets to New York.