New York City Jewelers Brawl After Intense Argument, on Video

"Uncut Gems" might just be a movie, but it looks like it nailed the volatile nature of the jewelry industry in New York ... because a couple of well-known jewelers got into a massive brawl Friday.

Here's the deal ... a jeweler named Maksud Agadjani, who owns TraxNYC -- and boasts more than 3 million Instagram followers -- confronted George and Freddy Akay of Akay Diamonds. He accused them of using his name to rip people off.

In the clip he posted, he goes crazy at the Akay booth ... screaming in a man's face and calling him a thief while shouting curses and other NSFW words at him.

Eventually, it seems like he's pulled away from the booth by a crowd ... before apparently coming back -- when a man spits in his face, leading to an all-out brawl with shoving and punches thrown.

In a video Agadjani posted, he shows off redness on his neck from where he claims the Akays tried to strangle him, as well as a red mark on his head from where he says he was hit.

He repeatedly asserts the Akays tried to kill him ... and, he also shares a video where he's using what appears to be a nebulizer -- most commonly used to treat respiratory conditions -- while ranting about the men who allegedly wronged him.

The NYPD tells TMZ ... they received a call about a reported assault, and when they arrived, they were told two men approached an alleged male victim and had a verbal dispute, which turned physical.

Cops say two individuals punched the alleged victim with closed fists, and he sustained minor injuries. He was transported to a local hospital in stable condition.