Engagement Ring Buying Guide On A Budget : It is important to know your budget before starting to search for an engagement ring. You will find all kinds of advice and general rules on the Internet like spending 2 or 3 months salary.
But you need to remember that the wedding is an expensive affair and the engagement ring is not the only thing you will be paying for. So choose an amount that you feel comfortable spending.
Diamond rings can cost $5000 on average but that doesn’t mean you cannot find one in the $3000 or $2000 range. Here’s how to find and buy the engagement ring on a budget.
Adjust the 4Cs
The 4Cs include the Cut, Clarity, Carat, and Color of diamond and they can help you determine the gem’s quality. But they can also help you reduce the final cost. You can choose to compromise on one or more characteristics. Here’s how:
The diamond’s cut defines its facets and proportion. It affects the stone’s appearance, price, and quality because it determines how light is reflected by the stone. The ring’s sparkle and brilliance are more dependent on the cut than anything else. The diamond cut or shape can affect the price. For example, Round cut is the most common shape but oval shape can help you save a significant amount compared to the round diamond rings. Asscher cut is another option that costs less.
Carat denotes the diamond’s weight. Some people are hell-bent on getting a certain weight or size of diamond. First, you should know that carats are not directly related to the size of diamonds. A good diamond curator can help you achieve a bigger diamond look while working with a small carat size. The difference between one carat and 0.96 carats is not even identifiable by the naked eye but the price difference is significant. So you can just go for a 0.90 carat instead of 1 carat and get a diamond ring at a relatively cheaper price.
Just like carat weight, color is another characteristic that you can adjust without affecting the ring’s overall appearance and quality. You can easily buy an affordable ring if you are not obsessed with the perfect color grade. Several ‘imperfect’ color grades still seem ‘colorless’ to the naked eye. The gem between G to I grade is an economic option with no apparent change in color. In fact, some diamond shapes enable you to choose a color grade that is below-I stone color.
The stone needs to appear ‘clear’ to the naked eye and not necessarily be of the perfect grade. There is a considerable difference between the price of VVS1 (the perfect clarity scale) and SI1( slight inclusions), but no apparent difference in the appearance. If you are looking to save a considerable amount, you can go for the salt and pepper diamond ring.
Time and exertion is not the only saving when you are shopping online, you can also save a lot of money. You can expect to pay up to 20% or 30% less when compared to prices at high-end stores. That is because the physical stores have to cover expenses like rents, leases, payroll, and sales commissions. This is especially true if you are buying from a store in another country like Dubai. Dubai engagement ring sellers can offer cheaper prices because of low VAT and import duties.
Make sure that you are buying from a reliable business’ website. You can confirm that by going through their reviews, physical address, and other details. Also make sure that you are buying GIA certified diamonds when shopping online.
Go for a Cluster Setting
The bigger a diamond, the greater will be the price. Go for a small, clustered ring setting so you do not have to pay excessively for the engagement ring. Multiple tiny gems instead of one large stone can reduce the ring’s price drastically. In case you (or your partner) is not interested in cluster setting, you can get a solitaire with a low color grade (e.g. K) with slight inclusions.
As you can see, there are many ways to save a considerable amount when buying an engagement ring. You can get in touch with a diamond curator and share your budget and requirements. Any experienced ring designer will be able to help you create a customized ring that looks good and still falls in your budget.
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Engagement Ring Buying Guide On A Budget
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