BBB Accredited Business since

47th Street Closeouts, Inc

Phone: (212) 391-1888 Fax: (212) 997-2392 20 W 47th St Fl 201, New York, NY 10036 http://www.47stcloseouts.com


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Description

This firm manufactures closeouts and wholesale jewelry.


BBB Accreditation

A BBB Accredited Business since

BBB has determined that 47th Street Closeouts, Inc meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for 47th Street Closeouts, Inc include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 9 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

9 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 2
Guarantee/Warranty Issues 2
Problems with Product/Service 5
Total Closed Complaints 9

Customer Reviews Summary Read customer reviews

0 Customer Reviews on 47th Street Closeouts, Inc
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: July 12, 2007 Business started: 01/01/2005 in NY Business incorporated 01/01/2005 in NY
Type of Entity

Corporation

Business Management
Mr. Dani Borohov, Manager
Contact Information
Principal: Mr. Dani Borohov, Manager
Business Category

JEWELRY MANUFACTURERS


Additional Locations

  • 20 W 47th St Fl 201

    New York, NY 10036 (212) 391-1888

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

3/7/2014 Problems with Product/Service | Complaint Details Unavailable
3/1/2014 Guarantee/Warranty Issues | Complaint Details Unavailable
1/23/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: While deployed my fiance found a ring on the **** ****** Closeouts website. ***** (the rep) said a $500.00 deposit would be required to hold that specific ring and deal that was being offered. My fiance mailed a check out the next day and everything was going fine. I arrived back in the states and used the money I had recieved from deployment to pay off the ring in full. We made the final payment of $7400.00 on 09/**/13. The total of $7900.00 was for a 2.25 CT G-SI found on the site and had paid extra to upgrade the diamond. The ring was shipped on 9/*/13 and when it arrived we were devastated at what we received. The diamond was extremely poor and the flaws extensive. With the ring was a paper document hand written in claiming it was worth something like $25,000. We called the next day and ***** (the rep) apologized up and down and said that the "wrong diamond" must have been put in. This was my 8th tour for our country and I used the money I earned being away from my fiance on what is a very expensive ring for us. In my opinion a reputable business should put more though and care into such large transactions. We took his word for it and sent the ring back at our cost. We also asked that the correct ring be sent before 10/**/13 because we had the ******** ****** **** that evening. We called a week prior and somehow we had been forgotten about but ***** said he would personally taske care of it. Note: ***** is the only person we have ever contacted and the ring was sent to his attention. The second ring arrived in the mail and again was nothing like what we had ordered. ***** had decided to "upgrade" the size of the stone which would have been nice if it was even the setting we had originally ordered or even if it had been a good quality stone. We took it into a jeweler and he confirmed that it would be graded as an I1-I3 due to all of the inclusions. With this ring they sent a new appraisal which was dated 09/**/2012 and rated at a SI-2. We again called the next day and he wanted us to again send it back and he can send something else. We allowed them to fix the problem and they continued to be unreliable and untruthful. It is criminal what they are doing to customers. The last ring he sent has no engraving and is not even the setting we ordered so would not be considered custom.

Desired Settlement: I will send back the ring for a full refund. We no longer have the debit card that was used because we opened a joint account. We are requesting a full refund of the $7900.00 in money order or cashiers check.

Business Response:

hi
*** ****** ****** and **** ******** ******** were about to engaged. They both asked our company to design a custom made engagement ring they saw online for them. We did the exact ring that was asked to be made and charged **** ******** ******** total of $7900.00.she paid in full and
we shipped the ring 2 weeks later . all went ok till ...
few weeks later **** ******** ******** called me to let me know that ,the engagement broke off and **** ******** ******** want to return the ring get the money back.
we explained her that we must charge %20 off restocking fee, she agreed over the phone and via notarized letter .
we are mailing her the sum of $6,400.00 via bank check direct to her .
both **** ******** ******** and our company are satisfied with the settlement and want this case to be closed.
thanks
**** *

10/17/2013 Guarantee/Warranty Issues | Read Complaint Details
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Additional Notes

Complaint: On July 7/*/2012 *** ******* sold me a 1.4ct diamond ring for $3500.00 which I later found out that wasn't real diamond. On September ** /2012 I brought the ring back to their office and requested for a certificate. *** ******* confirmed that was his ring and the stone was not a real diamond. *** ******* apologized to me and took the ring back. His assistance was present and confirmed the ring was false. On the same day 9/**/2012, I purchased a 2.72ct diamond ring for $7300.00 and matching band for $700.00 along with diamond bracelet for $400.00 and a 1.2ct diamond ring for $2000.00 for total of $10400.00. *** ******* took off $3500.00 from the returned false diamond ring and I paid him the balance of $6900.00 both in cash and bank check. I don't like the 2.72ct ring set so I called *** ******* and returned both items 2.72ct diamond ring for $7300.00 and matching band for $700.00 to their office on September **, 2012 via FedEX tracking # ************ and requested for a full refund. *** ******* said that is fine but he keeps sending me other items as replacements which I returned (one on Oct **, 2012 FedEx tracking ************ and one on Dec **/ 2012 tracking ************) back to him. I have been calling to his office and he keep giving me executes until today Jan **/2013 that he said he will only pay me back $6200.00 for the ring set that I paid for $8000.00. Per the company web site: 30-Day No Risk Money Back Guarantee We understand that sometimes our jewelry does not meet a customer's expectations and that is why we offer an exclusive “30-Day No Risk Money Back Guarantee”. If you are not completely delighted, please send it back within 30 days after receipt. No Hassle. No Questions Asked. No Explanation Necessary. View our return instructions on how to return your product

Desired Settlement: Refund of $8000.00 + FedEx fee of $66.76 (two FedEx fees that I returned items that I did not ask for on 10/**/2012 and 12/**/2012)

Business Response: 02.**.2013
 
 
**** ********* *** ** **** **** ** **** *** **** ** ***** ************ ************ *********************** 
 
 
 
Dear ****** *****.
 
In regarding to complaint# *******
 
**** ***** **** did purchase diamond ring from our company, and all she is calming is correct, except that when she made the last purchase of the 2.72ctw diamond ring and band.
We made her a custom ring special made for her fits to her size and explained her that 30 days money back policy applied for all purchases made on-line not face to face. And not a custom made item as well.
 
We offered her many different exchanges and also an upgrade for no extra charge.
She refused, and we offered her $6,400.00 refund due to a 20% restocking fee.
 
Our offer still on $6400.00 cash refund or a free upgrade.
 
Thank you.
 
*** ***** ** Mgr

Business Response: **** ***** **** came to our office on 05.**.2013 and picked up an exchange for the ring she returned.  she paid an extra $2,000.00 and she was very pleased and so we are.
please close this case.
 
 
**** ***** ****** ordered a custom made ring in platinum,she wasn’t happy with the quality, and returned the ring.As described clearly on our web any orders specially made ,are not subject for a refund.
but ,we did offer her 2 options we can upgrade the ring for batter diamonds at no extra cost to her or we can refund her minus %30 off for restocking this special made ring. that offer is still on ,and we are waiting for her reply.
 
 
Thanks
***** & the 47 closeouts sales team

*********************** *** *** ******** ** **** **** ******* ***** **** *** ***** ** *****

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

***** ****



 

8/16/2013 Delivery Issues | Read Complaint Details
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Additional Notes

Complaint: I ordered and paid for an engagement ring 2 months ago. When it arrived, it was sub-par quality (after having it appraised in Arizona). I sent it back and they replaced the center stone with a slightly better one. Three weeks ago my fiancée and I decided to order a replica ring made from silver and cubic zirconia stones so we don't have the expensive one while she is in cancer treatment and we are traveling. I called 47st closeouts and spoke with a gentlemen that said they could do it for $200. They charged my debit card immediately and told me the item would ship "next week." I have called daily and e-mailed several times and each time I am blown off. They keep saying that "****" needs to call me back and will later today. It has been 10 days of me calling and e-mailing and they have not sent the ring, nor called me back or e-mailed me. This is a similar issue to what happened the first time with the engagement ring - I finally threatened to contact the BBB and they hurried up and sent the ring. This time, I cannot get them to contact me back nor give me a status on the ring. I will file a dispute with my bank on the $200 charge on Monday. Their service is horrible, at best. They over promise, get your hopes up and then don't deliver. I was hoping to have it today for my fiancée as she leaves for 2 weeks of treatment tomorrow. These guys at 47st closeouts are horrible and I suggest never doing business with them.

Desired Settlement: I would like the item shipped to arrive ASAP, preferably to arrive Saturday, July ****. They promised last week but now they blow off my calls.

Business Response: Please close this complaint, we did ship ** ****** his ring, hr got it and verry happy.

Please close thise complaint A.S.A.P

Sincerely 
******* **
Mgr

6/21/2013 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: I purchased a 7 stone diamond ring that was advertised as being a 2 carat total weight with SI 2 and G color diamonds in 14K gold. What I receivedon 5/*/13 was I 2 to I 3 diamonds and JKL color which are very yellow diamonds. I returned the ring for a refund within three days of receipt and have proof from the USPS that they received it back on 5/**/13. Per their return policy, a refund will be issued, no hassle, no questions asked when merchandise is returned for any reason within 30 days. On 5/**/13, the USPS brought me another package from this company that was packaged identical to the one I returned and felt like it was another ring box inside. I refused the second package and the mail carrier took it back to return to the company. I have left two voice messages after trying to get a person on all of the extensions as no one answers and two e-mails. The first phone call where I left a message and e-mail was sent on 5/**/13 which was the same day I received a second package from them that I refused and had the postal carrier take back. The second phone call to them where I left another message and sent an e-mail was last week. I have not received a response from anyone as of today and no refund. This company is blatantly ignoring me. I have also filed a dispute with the credit card I purchased this on. on 5/*/13

Desired Settlement: I would like a full refund as they promised to the credit card it was purchased on as soon as possible.

Business Response: We did get the returned Item and did credited the client on 5/**/13.

Pleas close this complaint as it was refunded in full.

Thanks
******* ********

Business Response: Client got refunded on 6-**-13. Please close this case A.S.A.P

Sincerely 
***************************

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and find that this resolution is satisfactory to me and the matter has been resolved.
 
I finally received my credit for the merchandise I returned yesterday. Thank you so very much for your assistance.
*** ***********
 

Sincerely,

***** ***********



 

4/6/2013 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I have purchased a ring from 47th street on lay away. It was to be a ring for my daughter . One that I could wear in her memory. I liked one online and asked them if I could pay it nxext year they told me it was fine and I made a payment of $700 by a cashier's check to reserve the ring then I started making payments starting last fall and finally paid the last installment last February 2013. The total amount paid is $11, 494. In short they've had the money for quite some time now. Anyway they then sent me the ring on March *** and it was not as specified. In the previous ad it said the diamond ring was going to a better clarity and not enhanced. Since then they have updated the info on their site but I still had a copy of the old ad. Anyway as soon as I saw the ring that day I shipped back immediately and asked for my money back since on the site it says 30 days money back. It looked beyond horrible. But when I asked for the money back plus shipping cost **** the manager told me no bec. I paid layaway. But I don't understand the difference, it only means they had the money for longer and the reason I asked for money back was the ring was not as described so when I sent him a copy of the old specifications online he said there was a misunderstanding and said he will try to make it up to me with a very good deal. I did not want to but thought of giving it one more chance. Anyway I asked for a specific stone and a ring and once again it was not as specified. First I asked him to GIA certified and said I would even pay for the certificate but he said that his gemologust knew better. Anyway he sent me this new ring last Friday and the engraving was wrong so I went to a store here in Tucson and they told me to return the ring bec. the quality was very bad. Then I looked under the microscope myself and the ring had specs that **** himself told me it wouldn't (a black carbon in the center which I specifically asked not to and he promised it didn't). Anyway he then asked me to return the ring so I mailed it back within the hour. I then called him yesterday and he sent an email saying the money is now a credit for me to buy anything at the store but after giving him a second chance and the fact that he has had my money more than $11,000 for this long is very disturbing. I looked online yesterday and found all the information he was telling me to be false. GIA cost much less than he claimed. There are way too many stones that he claimed to be rare so in the end I feel like I can't trust him anymore. And I am still well within the 30 day money back guarantee. I want my money back as stated in the online agreement of 30 days money back regardless because I don't even want to buy any jewelery anymore. I slept 4 hours last night bec. I can't stop thinking that I have been ripped off. He doesn't have to pay for my shipping back money this is fine. But at least have him send me what I paid because I paid them. It is a LOT of money for me. I was never told if I paid over time the 30 money back satisfaction would not apply. It makes no sense. Please help me get out of this mess. I do not want him to try and fix the problem I already did and he let me down twice and don't want to give me my money back. I just want my money back as stated on the website. This is why I made a business deal in the first place bec. I know online you can't see the item so returning it is very important and they never told me this up until I asked to return the money. In fact they have had my money now for so long they could have invested it. All I want is the money I paid. HELP ME PLEASE

Desired Settlement: I want my money back as stated in the online agreement of 30 days money back guaranteed. The items sent were not as specified and I want the store to honor this agreement. I was never told if I paid over time the 30 money back satisfaction would not apply. It makes no sense. Please help me get out of this mess. I do not want him to try and fix the problem I already did and he let me down twice and I want him to give me my money back. I want my money back as stated on the website. This is why I made a business deal in the first place bec. I know online you can't see the item so returning it is very important. I would not have initiated the deal otherwise and they never told me I couldn't get my money back up until I asked for it when the rings didn't match the deal. In fact they have had my money now for so long they likely have invested it. All I want is the money I paid. HELP ME PLEASE Note I paid with different credit cards over time. I don't remember which ones, but he probably does. But given that the money has been paid for a while now I prefer a check and if he wants to deduct anything he paid in interest from the credit cards he can do so. I just want my money back PLEASE. I am in turmoil and can't live with this stress anymore of a purchase that is not satisfying and a business I can no longer trust. HELP ME PLEASE want my money back as stated in the online agreement of 30 days money back if customer is not satisfied and I am satisfied at all

Business Response: hi *****
please let me know if the case is closed so we can issue the refund check.
please contact me asap
Thanks
***** & the 47 closeouts sales team

*********************** ************** ************** ************** *********************

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

******* *****



 

3/13/2013 Problems with Product/Service | Complaint Details Unavailable
1/9/2013 Delivery Issues