Everyone dreams to propose or get proposed to with a beautiful diamond engagement ring. But, considering the staggering prices of diamond engagement rings, it’s not always possible to go above and beyond your means to purchase what is essentially a piece of jewelry. Research has shown that most men spend around 25% of their annual income to buy an engagement ring. While it may be easy for some to shell out the required amount for the ring, for some it might mean going into debt in order to purchase the ring. However, the good news is that by shopping in a smart way one can buy the engagement ring of their choice without having to empty their bank accounts. Here’s how
- 1 Avoid popular diamond shapes for egagement ring
Avoid popular diamond shapes for egagement ring
Diamonds that have high demand are more expensive than the diamonds that are preferred less. The most popular diamond cuts which are extremely popular are the round cut and the oval cut diamonds and are hence twenty-five percent more expensive than the other cuts. Another reason why these shapes cost more is because of the way they are cut. During the cutting procedure of round and oval shapes, a considerable amount of rough diamonds gets wasted and therefore the sellers make up for the lost diamond by increasing the price of the round and oval cut diamonds. Diamonds with a higher demand have smaller inventory and high prices. So, just by avoiding a popular diamond shape, you can save up to 10% and instead buy something less popular and unique for your partner.
Set a limited budget for engagemnet ring
It’s quite common to get swayed by emotions. When you are buying an engagement ring and end up spending more than what you initially thought of. Hence it is important to think about what you can afford within your budget and set a maximum limit to it. Also, you should not buy an engagement ring in a hurry but take out time to do some research so that you know what you can expect for your budget and not get overwhelmed and end spending more by underestimating the costs. You can also use this time to save some cash to buy the ring instead of buying it on credit.
Choose the G Color with fluorescence
Instead of opting for a clear diamond, whose color ranges between D-F on the GIA color scale, you can choose a diamond with a G color on the GIA scale. Such diamonds have minor color differences and look as good as the colorless diamonds. The difference between an F color diamond and a G color diamond is almost imperceptible to the naked eye but the cost of the G color diamonds is about 8% lesser than the colorless diamond price range. Also, a bit of fluorescence reduces the cost of the diamond considerably without altering the appearance much. Since most customers have an aversion to diamonds that show medium fluorescence, it has a much lower price than the ones which show faint fluorescence.
Alternative gemstones for the engagement ring
When it comes to engagement rings, it’s not necessary to always stick to the norm. Diamond engagement rings have been marketed and publicized in a smart way so that everyone wants to have them. But engagement rings made of other gemstones can be as beautiful and stunning as a diamond ring and stand out in the crowd as well. Not only are they beautifully unique but also kinder to the budget. The center stone of the ring made of alternative gemstones like moissanite, sapphire, ruby, and emerald are slowly becoming popular and trendy among the crowd. One can visit the Jewellers in Hatton Garden and choose from their wide range of ring collection which has gemstones other than diamond.
Avoid a whole number of carat
When it comes to the carat of the diamond, it has generally been seen that a whole number carat is more expensive than a fraction carat. You may want to buy a 1-carat diamond. But the diamonds which are less than 1 carat like the ones which are 0.9 carats are substantially cheaper. Both of these diamonds will appear almost similar.But the ones with the carat infraction and decimals will save you hundreds of dollars.
Avoid or limit micro pave
One of the latest designs of engagement rings in the pave diamond-studded ring setting. It looks extremely attractive and gives extra shine and sparkle to the ring. Micro paving the ring setting requires a lot of effort and therefore has increased labor charges. The more intricate the design, the more expensive is the micro pave diamond setting. Therefore by limiting or avoiding the micro pave diamond ring setting one can avoid the extra labor costs. Instead one can go with a small solitaire diamond with a simple gold setting. And a thin ring band that looks classy and timeless.
Shop Online for an engagement ring
Buying an engagement ring online will give you the added advantage of availing of heavy discounts. And attractive offers which will significantly decrease the net amount you pay for the ring. A brick and mortar jewelry shop have to pay its staff and the rent for the place. These added costs make the products more expensive at a jewelry store. The online sellers do not have these extra costs and therefore the price range of the rings is far less. You just need to ensure that the seller and the company are reputable who offer an excellent return policy. And include insurance on their delivery package.
Certification and insurance
Always ensure that the diamond ring you purchase has been certified by a reputable lab like GIA. This certificate will not only provide you with the specification of the diamond on the ring but also ensure that you shell out the correct amount for the product, not less and mot more. An engagement ring is a major investment and therefore getting insurance for the same will be beneficial in covering any extra and added costs. It will also protect your money in case any of any damage or mishap related to the ring.