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

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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 3 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Customer Complaints Summary Read complaint details

3 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 0
Guarantee/Warranty Issues 1
Problems with Product/Service 2
Total Closed Complaints 3

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


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


Additional Locations

  • 20 W 47th St Fl 201

    New York, NY 10036 (212) 391-1888


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.

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

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:

*** ****** ****** 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.
**** *

Customer Review(s)

The customer review(s) below are un-filtered. These positive and negative reviews are not used in the calculation of the BBB Rating. If you wish to file a complaint and request a resolution to your issue please click here. This customer review section is not BBBs complaint resolution system. Customer Reviews are the subjective opinion of the individual who posted the review and not of Better Business Bureau. A customer review is not posted on a business if a BBB complaint on the same issue(s) is also filed. BBB cannot guarantee the accuracy of any customer review and is not responsible for the content of any customer review. Public comments are not customer reviews.

Customer Reviews Summary

0 Customer Reviews on 47th Street Closeouts, Inc
Positive Experience (0 reviews)
Neutral Experience (0 reviews)
Negative Experience (0 reviews)