The Four C’s
The Four C’s
A diamond is one of the largest purchases most people make in their life time. As with any large purchase you should understand what you are buying and take the time to educate yourself as to what to look when shopping for a diamond.
The value of a diamond depends on certain characteristics of the diamond that are graded. Diamonds are examined and graded by trained workers at laboratories using grading criteria established by The Gemological Institute of America (GIA). Four of these criteria are essential to understand when buying a diamond. When you apply these four criteria accurately and completely, you can be confident that you are getting the best diamond quality and value for your money.
Keep in mind that the Four C’s should only be applied to a loose diamond and not to a diamond mounted on a ring. Known as the Four C’s,” these criteria are: Color, Clarity, Carat and Cut.
With an understanding of the Four C’s, you will be able to comparison shop and buy the best diamond at a fair price. But buying a diamond shouldn’t be done on a whim or rushed. Give yourself plenty of time and shop around, see what is out there to be purchased, then decide on the shapes and styles that appeals to you.
Engagement Ring Shopping Tips
Shop Smart and Save Money Buying An Engagement Ring
Sales
Look for sales to get a diamond engagement ring at a discount price. However, be sure that these sales are legitimate sales and not ones that are continuously being run all through the year. Many stores have holiday sales to get rid of discontinued or last years engagement rings to make room for new products. Especially look for sales after holidays such as Valentine’s Day and Christmas. The number of items may be limited but the inventory probably changes frequently, so if you leave yourself enough time to shop, you are sure to find an engagement ring that suits your taste and budget.
Wholesale
There is no such thing as wholesale prices to the general public and anyone who tells you they are selling you an engagement ring or a diamond at wholesale prices is not being 100% honest.
A true and reputation wholesaler will only sell to a retailer with a jewelry store, a federal tax number and references.
If someone offers to sell you one diamond or one engagement ring at wholesale prices without seeing your federal tax number or some business documentation, he is probably a retailer claiming to be a wholesaler.
But if you know someone in the jewelry business, you may be able to get an engagement ring for what that jeweler paid for the ring. Short of that, your best bet is the find a jeweler that has minimized their operating costs considerably and can pass those savings on to you.
Small Local Jewelry Stores
Consider buying from a small local jewelry store that is owned by run an individual owner who would be more inclined to make you a happy and repeat customer. You are probably in a better position to negotiate the best price with the owner of the store.
Outlet stores
Outlet stores of large retail jewelers are great locations for discount engagement rings, including wedding and engagement rings. The styles are often identical to those found in mainstream stores, but with significantly reduced prices. Many outlet stores carry last season’s designs, discontinued and overstocked items as well as displayed items and slightly damaged items that can usually be fixed cheaply.
Pawn Shops
Check out you local pawn shops for your engagement ring. Most pawn shops today are not the cramp, dark and dreary shops overstuffed with dusty musical instruments, old cameras and watches and rings that you may see in movies. Many of the shops are designed like retail stores, with glittering jewelry cases as the store’s centerpiece. And more and more “regular” shoppers are customers. The shops usually clean, polish and refurbish what they sell before putting them out on the sales floor. You’ll find brand name, high-end jewelry at reduced prices. You may also find vintage and antique engagement rings at great prices.
Online Stores
Online only jewelry and engagement ring stores are able to offer qualified engagement rings for less than traditional brick and mortar stores because they don’t have expenses associated with a physical store or pay as many employees, and are willing to pass on some of the cost savings to you.
Purchasing an engagement ring online is risky because you cannot physically inspect the ring before you pay for it. So before buying any expensive item from an online jeweler that you do not know, check the online jeweler’s reputation; check to see if the store’s website is secure; and make sure the store has a return policy and that you understand the policy.
eBay
Another online place to look for a cheap engagement ring is eBay and other auction sites. If you have the time and the patient, auctions are the best way to buy a quality engagement ring at the best possible price.
Shop Around
Perhaps one of the best buying tips to keep in mind is to give yourself plenty of time to shop around. The Internet makes it easy for anyone shopping for an engagement ring to window shop without leaving home. Buying an engagement ring or any other expensive item on a whim or spur of the moment will most likely result in you paying more than you should.
Other Tips to Save Money Buying Engagement Ring: Engagement Ring On The Cheap, Engagement Ring For Less, Save Money When Buying The Diamond, Drop The Diamond For Another Gemstone
Save Money On Your Engagement Ring
Engagement Ring and Wedding Ring Money Saving Buying Tips
Precious Metal
Another way to cut the cost of an engagement ring is in choosing the right metal. Consider an engagement ring made with white gold instead of platinum or palladium. White gold is a good alternative as it looks like platinum and palladium but is much less expensive.
Or consider a 10 karat (10k) or 14 karat (14k) ring instead of an 18 karat (18k) or 22 karat (22k) ring. Generally, two-tone rings and those with intricate patterns or etching on the metal are also more expensive than those plain ones.
Buy the Engagement Ring with Wedding Bands
Chances are that if you are in the market an engagement ring, you will be also in the market for wedding bands. Certain ring designers will produce engagement rings with matching wedding bands which are sold as a set. A set would most likely be less expensive that individual rings. Buying a set can save you money. If the engagement ring and wedding rings are no a set, consider buying both rings from the same jeweler. The jeweler will be more inclined to give you a discount if you buy both.
Purchasing the Diamond and Setting Separately
You may also find that buying the diamond and setting separate from one another can save you some money. It also allows you to choose exactly the type of ring that you want and be able to see it before the stone is set.
While there is nothing wrong with buying the diamond and the ring from the same jeweler, don’t make the mistake of overpaying for the diamond or the ring separately by not understanding of what each cost on their own and doing comparison shopping.
Other Tips to Save Money Buying An Engagement Ring: Engagement Ring On The Cheap, Engagement Ring For Less, Save Money When Buying The Diamond, Drop The Diamond For Another Gemstone
Drop The Diamond For Another Gemstone
Consider Diamond Alternatives
Other Gemstones
An engagement ring does not have to have a diamond as its center pieces. There are other gemstones such as sapphires, emeralds, and rubies, besides diamonds that are used for engagement rings. However, if you decide to go with a non-traditional engagement ring and use another gemstone instead of a diamond, make sure the other gemstone hard enough to hold up to being worn everyday.
A gemstone’s hardness is graded on the Mohs scale. When choosing a gemstone for an engagement ring that will be worn everyday, anything lower than an 8.0 on the Mohs scale is unsuitable. Softer and less durable gemstones like pearls and opals are poor choices for an engagement ring.
Man-Made Diamonds
Man-made diamonds, also called synthetic, lab-created, manufactured, lab-grown, or cultured, are true diamonds. Although not formed by nature, man-made diamonds share the chemical, physical and optical qualities of mined diamonds and are less expensive. Like a real diamond, a man-made diamond is carbon crystallized at extremely high temperatures and pressures. Man-made diamonds have been around since the 1950s and have been used mainly in industrial purposes. But in recently years, advances in the process of glowing diamonds have produced gem quality diamonds.
Most of the lab-grown diamonds produced today are still one carat or smaller. Colored diamonds are more common among synthetic diamonds and colorless stones are rare. The prices of man-made diamonds are expected to decline as production increases. Two companies that make synthetic diamonds are Apollo and Gemesis.
Diamond Simulates
Not to be confused with man-made or laboratory-grown diamonds, simulates or imitations diamonds are not diamonds at all. Diamond simulates are made of other materials such as zirconium oxide (cubic zirconia) or silicon carbide (moissanite). The best example is cubic zirconia (CZ) which has been around since since 1976. Moissanite is a newer creation coming onto the market in the late 1990s. Currently, only on company makes moissanite.
CZ and other imitation diamonds do not have the same properties as natural diamonds and are usually very cheap compared to natural or man-made diamonds. A cubic zirconia of the same size as a natural diamond is heavier. The CZ will weigh about 1.6 times more than the diamond because the zirconium oxide is denser than the crystallized carbon of a diamond. A CZ is softer than diamonds, scoring an 8.3 on the Mohs scale. Moissanite comes closer to a real diamond. It scores a 9.25 on the Mohs scale but it cannot quite compete with a diamond’s colorless quality.
The similarities of CZ to a real diamond are so remarkable that even a jeweler or gemologist can’t always tell the difference when viewed with the naked eye. One difference between a CZ and a real diamond is that cubic zirconias are excellent insulators of heat, where as diamonds are good conductors of heat. Tests with the right equipment will be able to pick out a CZ from real diamonds.
Irish Claddagh Ring
The Claddagh ring is a traditional Irish ring and custom believe to have originated in the 17th century outside the Irish city of Galway in the fishing village of Claddagh. The ring is given in as a symbol of promise and engagement but also has the added meaning of friendship.
Claddaghs are still worn today, primarily by those of Irish heritage, as both a cultural symbol and as engagement and wedding rings. However, the Claddagh ring has become popular with many non-Irish couples due to the tradition and meaning behind it.
Simple Gold Band
Consider a nicely carved band in gold can usually be found for under $200.
Other Tips to Save Money Buying An Engagement Ring: Engagement Ring On The Cheap, Engagement Ring For Less, Save Money When Buying The Diamond, Drop The Diamond For Another Gemstone
Save Money When Buying The Diamond
What Diamond Qualities Worth Paying For
The Four C’s
You don’t have to pay a premium to get a quality diamond:
Cut
A diamonds graded very good (VG) is your best choices for quality and value but for the budget conscious you can pick up a good rated diamond.
Color
A diamonds graded G, H and I are near-colorless and look colorless to the naked eye. These are the whitest stones commonly available in the engagement ring market. A diamond rated G and H on the color scale is your best choices for quality and value.
Clarity
A diamond graded SI-1 or above looks flawless to the unaided eye. Even a tiny inclusion visible to the naked eye will bump the diamond to an SI-2 or I-1. A diamond rated SI2 and VS1 on the clarity scale is your best choices for quality and value.
Carat
Instead of buying a diamond that is exactly .50 carat and 1.00 carat weights buy odd carat diamonds such as a .45 carat diamond, a .80 carat diamond or a 1.55 carat diamond. This will save you money because the price of a diamond jumps dramatically when it reaches a true .50 carat or 1.00 carat because that’s how most buyers want their diamonds. And because demand is high for those diamonds, jewelers charge a premium for them. The difference between a .80 carat diamond and a 1.00 carat diamond will not be apparent to the human eye in a side by side comparison. So save money by not doing what most people do and shop for an odd carat diamond.
Other Tips to Save Money Buying An Engagement Ring: Engagement Ring On The Cheap, Engagement Ring For Less, Engagement Ring Shopping Tips, Drop The Diamond For Another Gemstone
Engagement Ring For Less
Buying An Engagement Ring for Less Money
Family Ring
The best way of getting an engagement ring free or cheaply is to see if your mother, grandmother or aunt has a ring that is handed down through the generations. Not only will the ring be unique but it would be a wonderful way to welcome you future wife into the family.
Baguettes
If you like a diamond engagement ring with a lot of sparkle but don’t want to spend money for a large carat diamond, consider a smaller diamond with Baguette. The baguette cut is generally used for smaller rectangular diamonds and features rows of step-like facets. It is often used in pairs to flank a larger center stone. This design will add sparkle and shine but cost less than a larger diamond. Or consider buying a ring with several smaller diamonds instead of one large diamond. Smaller diamonds are less expensive than large ones.
Other Tips to Save Money Buying An Engagement Ring: Save Money When Buying The Diamond, Engagement Ring Shopping Tips, Save Money on Your Engagement Ring, Drop The Diamond For Another Gemstone