NBA Rookie Rodney Hood -- $80k Jewelry Run ... For NBA Draft

Before he became a 1st Round NBA Draft pick ... Rodney Hood got himself ice'd out with $80k in high-end jewelry ... TMZ Sports has learned.

We know ... the day before the draft, the 21-year-old phenom hit up Rafaello & Co. in NYC -- and picked himself up a $50k diamond-coated stainless steel Breitling Bentley watch.

He also dropped another $30k on an 18-carat gold and diamond bracelet with princess cut and round diamonds. Not too shabby.

But Hood wasn't the only baller to go on a pre-draft jewelry spree ...Cleanthony Early also hit up Rafaello and got a $62k Rafaello & Co. yellow gold watch and a Cuban link diamond bracelet.

It's good to be rich.