Saving Money on an Engagement
Ring
Top 5 Ways to Save Money when
Buying Engagement Rings
So many people ask us about saving money on an engagement
ring so we decided to get some industry insider's thoughts on
the subject. A few things we already knew about but we also
learned a couple of new things in our quest for money saving
tips.
The good news is that there are a few basic things that
you can do if you're in the market for an engagement ring and
want to save a few bucks.
No. 1 : Size Does Matter
This tip on saving money on an
engagement ring is about understanding
Carat Weight (yes,
back to the 4Cs) and the effect it has on value. As we've
mentioned before a 2 carat diamond is much more expensive than
two 1 carat diamonds even though the total weight is the same.
And, round number diamonds like a "1/2 carat" 1 carat, or 3 carat diamonds have
an added premium just because they are round numbers.
So our first tip is to knock of a tenth of a carat when
looking at diamonds around 1 carat in size or larger. (You will
notice the tenth of a carat difference in smaller diamonds but
not when you hit 1 carat or more.) The diamond pictured
below on the left is .90 carats while the one on the right
measures 1 carat... look at them very closely and you'll see
that visually the difference is so small but the value
difference can be huge and your savings can run into thousands
of dollars.
The same is true with smaller diamonds. If you're looking at a
.25 carat stone, compare it to a .23 and you'll be surprised by
the savings because it can't be called a full "1/4 carat" and
will look exactly the same to the naked eye.
No. 2 : Education
If you're serious about saving money on an engagement
ring you need to do the work. You need to be an educated
consumer. Besides Carat, you need to know about the other Cs (Clarity,
Color,
Cut) so that you know
what you are buying and can compare apples to apples.
The best
deals on engagement rings are often found at online retailers
because they don't have the overhead (rent, property taxes,
utilities, etc..) of
conventional jewelry stores and can pass those savings on to
you. They also don't rely on local traffic and sell worldwide
which means that they can buy larger quantities and get better
pricing for their stones and again pass those savings one to
you. So know your 4Cs and you'll know what you're getting!
No. 3 : Pass on Platinum, Go
for Gold!
Little things can make a big difference to your pocketbook! So
passing on platinum is a great way to start saving money on an
engagement ring. The industry standard is 14K white gold and
there is virtually no difference to the eye. Platinum is a
little stronger and a little heavier but other than that there
is very little difference and not worth the extra dollars.
No. 4 : Color Your World
Another one of the 4Cs, the color (or lack thereof) of a
diamond can have a significant impact on its price. So if you're
looking for ways of saving money on an engagement ring go with
the lowest color rating you can get away with. In the
"colorless" diamond group, the ratings run from "D" through to
"J". D, E, and F are the most expensive while G, H, I and J are
considered near colorless.
To the naked eye, they will all
pretty much look the same and the difference in cost is based on
the rarity of D (or the higher grades) rather than them being
more beautiful. So, go with the second group and save more than
a few bucks. One thing to keep in mind if you go below an "I"
grade is that if the stone is set in a white metal, you may
notice the color more than if you go with yellow gold.
No. 5 : Setting the Scene
If you're all about saving money on an engagement ring but
concerned about sacrificing "Bling" then choose a setting
that'll make your diamond look bigger.
Bezel settings and Halo
settings are perfect for this.
A Bezel setting frames the stone
in metal and is great for protecting the stone from chips and
damage while a Halo setting also frames the stone but this time
with small diamonds or diamond chips. The two examples below were
recently purchased for some lucky future brides from
JamesAllen.
Make sure that they're in
white gold so that the diamond blends in with the metal. Your
diamond will look so much bigger than it really is and you'll
get the most "Bling" for your buck!
We hope these tips for saving money on an engagement ring are
helpful. Check out some of our other pages on
inexpensive
engagement rings and
designing your own
engagement ring. Return from...
Saving Money on an
Engagement Ring to Affordable Engagement Rings Or, go to
The Engagement Experts Home Page
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