at about allhe other victims here that can't speak to-- to shirlee or thomas or roger or mary? . this is 47th street. new york city's diamond super highway. nearly 90% of the diamonds that enter the u.s. come through this one block in midtown manhattan here, million dollar deals are made with a handshake and sacred work gold is set on fire. diamonds are cut, polished and

transformed into symbols of prestige and romance and tradition is disrupted by innovation >> where are these people coming from >> i deal mostly with athletes, all types of celebrities >> i decide to go behind the jewelry counter to crack the code of this notoriously secret industry can you get a good deal on 47th street how are diamonds even priced and will the block and this business survive these changing times? >> this is the future of diamonds >> welcome to the diamond district look closely every street in this country is powered by a dream i'm marcus lemonis i'm a ceo. i'm self-made and a champion of entrepreneurs. i'm going to meet the hard-working women and men whose passion, drive and determination

fuels the business of america's most iconic streets. this is "streets of dreams." listen, i know my way around a business deal, but, when you throw a diamond in the mix, they're like my kryptonite whether i'm buying for my stores our even for my wife, how do i know if i'm getting a good deal? and i think a lot of people, they're in the same boat i mean, the average american spends $6,000 on a diamond engagement ring, but do they know what they're paying for >> diamond shop? >> i want to figure this one out with the help of people who live and breathe this business, and there's no better place to do this than here in new york's diamond district >> diamond watches >> it's almost sensory overload. you don't know where to look

and as you walk down, there could be 100 shops on both sides. how do you know which one to stop at? is this sign going to make me stop is she going to make me stop is the hawker going to make me stop >> what do you like about it >> the business. >> the money >> the money's second. i love the business. >> i will say i feel a little adrenaline in my blood there's this odd energy that exists between fifth and sixth your you get caught up in the excitement of it all is there a billion dollars worth of jewelry on this street? how does it all work and who do i learn from a whopping $24 billion in annual sales happen on this one street in midtown manhattan but i'm hard-pressed to believe that all that cash is moving through these store fronts i suspect it's the businesses up there in these buildings where i'm going to find the real

secrets and the real money >> hello >> go into the diamond dealers club >> no problem. may i have your photo? >> fingerprints? wow, this is intense >> this is the international gem tower, 14 floors above the hustle and bustle of 47th street, the exclusive diamond dealers club no one gets in here without an invitation, and judging by the high security, they've got something going on up there worth guarding >> how much do you want for this >> i'm customer, come on >> when you walk down the street, you see exchanges, that's the retail part of the business upstairs in the offices is the wholesale. people up here are wholesalers what you're seeing is people trading. >> there's magic word. "trade." i've heard this business is tough and competitive but also pretty old school.

club president reuben kaufman seems like the ideal person to let me in on thousand all works. >> it's a group of diamond dealers that felt they wanted some type of cohesiveness. >> is it predominantly a jewish community in the diamond business >> it used to be, not anymore. nine out of tend diamonds are cu in india we're a community with self-governing loss. it's tours good luck and blessing seals the deal you want to buy a parcel from mumbai >> a parcel of diamonds. >> you call the supplier, finish the deal on the phone. you say $982,000, take it or leave it the man says mazal you are ground that deal

no lawyers, no signature if you do not pay, you are immediately judged by your peers. >> is it a shaming sis them. >> it is an honor system if you do not pay, your name is e-mailed throughout the whole diamond world. you can never trade again in your life. >> the wall of shame >> somehow this arcane system works. >> i legitimately want to go through the process. >> sure. come to the table, i will show you. >> so all these people that are sitting here, do they have their diamonds on them >> they have the diamonds on them >> not in some skuecure area >> this is a very secure area. >> sure, the building security is tight, but in here it's really casual. these guys have diamonds probably worth millions wrapped in little pieces of paper just

tucked in their pockets. >> it's a beautiful diamond, but every diamond has a price. >> i siee a ton of basrgaining going on >> let me show you a beautiful stone, a 10 carat. it is slightly imperfect >> i have no idea what you're saying do most people not know? >> the way to buy a diamond, honestly, is you have to trust the person you're buying it from i know it's a difficult statement. but it's very difficult for lay men to see the imperfection. we have to be trained in this. >> what are you asking for this? >> $450,000. and trust me, you're getting the bargain of your lifetime >> why is it $450,000 and not $250,000 >> because the whole industry has a price range. >> that's way out of my budget

>> let me show you something i think may be interesting for you. a tennis bracelet, can be worn on a regular basis look at the brilliance on these stones >> how many carats >> 15 carat. >> how much do you want? >> $12,000 >> $12,000 is all you want in all honesty i don't know what i want. >> in this industry, you have to trust the person you're dealing with a blind item i know that's difficult, what are you going to do? >> 15 carat bracelet, $15,000. >> $29,000 >> $21,000 >> $28,000 it's yours, say reuben, thank you, you gave me a great deal. >> 25.5. >> 26 and let's shake on it. >> let me tell you, 26 is a very

lucky number in judaism. >> i probably made more noise than anybody makes in new york what was the term? >> mazal, good luck. >> $26,000 >> $26,000 you got a great deal on this >> it really is pretty this bracelet is perfect for my retail store, but, did i get a great wholesale deal reuben set his of price with room to come down. it's about a 13% drop, but how did he set the starting price? i feel like i have a ton more to learn here >> since we're in america, obviously, there's sales tax here, so it's $26,000. >> what the -- ♪ i'm here on 47th street to learn about the diamond business from the men and women who followed their dreams here. i started at the exclusive

diamond dealers club where i spent $26,000 on a wholesale bracelet for my retail store was it a good deal i have no idea what i do know is when a rough diamond comes out of the ground it could be worth as little as $150 per carat, by the time it ends up in the blue box at tiffan tiffany's it could be upwards of $16,000. who decides how it's worth >> what's your plan b? >> i don't have one. >> is there a bill dollars worth of jewelry on this street? >> this is obviously how the music gets made. >> i'm trying to figure out where the money gets made. capitalism with humility, it's

hard to find that in america >> you are a capitalist. >> the amount of money we can generate is insane >> my mouth is on fire >> there's this energy where you get caught up in the excitement of it all. >> look how cool that is >> what happens in miami never happened >> doesn't happen anywhere >> this is going to be an amazing ride >> streets of dreams with marcus it it lemonis. tonight, we're going to california more than just scenic, sunny and trend setting. the goenlden state is also the greenest >> we're ending prohibition and mainstreaming pot. there's blue dream, gorilla grew sour banana, green crack >> why do i think green crack is more potent than sour banana >> the game changer, proposition

64 >> marijuana is now legal -- [cheers and applause >> soon, any adult will be able to buy weed. >> candidate vote passing increase the odds of you becoming a billionaire someday >> absolutely. >> my name is marcus lemonis, on my show "the profit", i invest my own money in all kinds of companies. >> everything's going to change. everything >> and help turn their fortunes around marijuana isn't my thing i've never even considered investing. >> is the business easy for you? >> hell no there's nothing easy about this industry at all. >> but the market here could reach $6 billion that's impossible to ignore. >> we have this opportunity to create once in a lifetime multi-generational wealth. >> risks are huge. you're in a room filled with what the federal government considers illegal. >> that's what makes it more exciting >> but so are the returns. >> what's end goal for