A system for reducing the diameter of a stent comprises a stent contracting assembly and a fluid source. The assembly comprises a plurality of contracting members that define a diameter reduction chamber for receiving a stent. When the chamber is in a pre-reduction configuration the stent has a first diameter and when the chamber is in a reduced configuration the stent has a second diameter. The second diameter is less than the first diameter. The fluid source is in fluid communication with the chamber and is constructed and arranged to inject a fluid therein. The fluid forms a fluid bearing between the contracting members and the stent which prevents the contracting members from contacting the stent in the reduced diameter configuration.