The doors of the diamond exchange in Paris are closing for good

14 rue Cadet is a legendary address, a place steeped in history; the epicenter of the Parisian diamond and stone trade was located here on the street’s southern sidewalk. Why the south side? To take advantage of the cooler northern light and prevent the sun’s rays from changing the color of the diamond. Setters, jewelers, diamantaires, pearl and stone dealers, brokers and wholesalers have long plied their trade in this 1926 Art Deco building. The site then housed the name “Société Immobilière Parisienne de la Pearl and Precious Stones”, which is still engraved. on the forehead. It was there, at the diamond exchange, that diamonds and stones were exchanged and negotiated, the proximity of the Gare du Nord facilitating connections to Antwerp and Bruges in Belgium, other places specializing in this field. A veritable anthill that supplied diamonds, pearls and colored stones to a chain of retail jewelers and manufacturers in France and Navarre.

Lease not renewed

Over the years, Paris gave way and the diamond workers, numbering more than 5,000 in the 1960s, gradually left the area for other horizons. In 2006, the Société Immobilière Parisienne de la Perle et des Pierres Précieuses sold its building to a gambling ring, which was finally closed in 2014 after a dark case of money laundering. But about ten merchants and jewelers still had their workshops and offices there. They are now being asked to leave the area forever. the building was bought by Eurobail in 2020 for 12 million euros, after which the latter informed the existing diamond workers that it would not renew their lease, taking advantage of its proper eviction. The latter are being judged today, and it has been 4 and a half years already. But whatever happens, they will have to leave that place. Thus, a page in the history of the Lafayette district of Paris was finally turned.