After the world financial meltdown we all witnessed recently, the prices of commodities like gold and precious stones have skyrocketed. This means that jewelry items such as rings and necklaces can be a particularly expensive buy. If you’re ready to pop the question to your partner though, you shouldn’t let the high engagement ring prices put you off doing so, as there are a few ways in which you can save money on engagement rings without disappointing your bride-to-be.
Brand – A brand name diamond is always going to be much more expensive than an unbranded stone. In the same respect that branded clothing is more expensive than unbranded. If you are looking to save money on a ring then just go for a generic stone. Plus, just as clothing fashion comes in and out, so does jewelry fashion, so in a few years, spending a huge amount on a branded stone might not seem like such a sensible idea.
Negotiation – Plan to haggle a little after you’ve made your decision about which stone or ring you plan to purchase. Retailers normally mark jewelry up 200% or more. There is no shame in “discussing” the price with the salesperson. In fact, you’d be silly not to have a price discussion. It’s the same as making any other large purchase. You wouldn’t buy a car off a lot without discussing price. Do the same before you purchase a diamond.
Shape – Some diamond shapes are much more expensive than other diamond shapes. The least expensive cuts are oval and pear. The reason behind this is not that oval or pear shapes are in any way inferior to any other shaped diamond. The oval and pear shapes appear, due to the way they’re cut, to be larger than diamonds cut in other styles. They are also less in demand than other styles so there is usually a good deal awaiting you if you buy one of these cuts.
Band – The band of an engagement ring is important but who notices that first when looking at someone’s engagement ring? People’s eyes always go right to the center stone. Buy a simpler band and save some money to put into the stone.
Stone – A common mistake among purchasers of diamond rings is purchasing the stone from the same retailer that will set the stone. It saves big money if you purchase the stone from one retailer and have a second retailer set it into the band.