How To Get Your Dream Engagement Ring Without Breaking the Bank
Jul 5, 2024
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Learn how to get a great engagement ring without breaking the bank. Discover the key characteristics and factors that affect diamond prices. Get tips for buying the perfect ring and explore online diamond stores for affordable options.
16:28
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Quick takeaways
Consider opting for a non-round shape like pear or marquise cut to make the diamond appear larger and more affordable, and look for diamonds with G or H color, VS1 or VS2 clarity, and a very good cut to get good quality without the high price tag.
Understanding the four Cs (cut, color, clarity, and carat) is crucial when shopping for a diamond, with the cut determining the diamond's sparkle, color referring to transparency, clarity examining blemishes and inclusions, and carat measuring the size.
Deep dives
Tips for Saving on an Engagement Ring
When it comes to buying an engagement ring, there are several ways to save money. First, consider opting for a non-round shape like a pear or marquise cut, as these can make the diamond appear larger and more affordable. Secondly, familiarize yourself with the four Cs: cut, color, clarity, and carat. Look for diamonds with G or H color, VS1 or VS2 clarity, and a very good cut, as these offer good quality without the high price tag. Lastly, consider getting a lab-grown diamond, which can be 50-70% less expensive than mined diamonds and have fewer ethical concerns. Keep in mind that lab-grown diamonds may depreciate in value compared to mined diamonds.
Understanding the Four Cs
When shopping for a diamond, it's crucial to understand the four Cs: cut, color, clarity, and carat. The cut determines the diamond's sparkle, with excellent being the highest grade. Color refers to the diamond's transparency, ranging from colorless (more expensive) to diamonds with noticeable color (less expensive). Clarity examines the presence of blemishes and inclusions, with flawless being the highest grade. Carat measures the size of the diamond. It's important to note that for clarity and cut, the difference between high-end and mid-range grades is indistinguishable to the naked eye, making it more cost-effective to opt for slightly lower grades.
Benefits of Shopping Online for an Engagement Ring
Contrary to traditional beliefs, shopping online for an engagement ring can yield significant savings. Online diamond stores like Rare Carat and Ritani have lower overhead costs, allowing them to offer more affordable prices compared to brick-and-mortar stores. These online retailers provide a user-friendly experience and often offer a wide range of diamonds to choose from. Shopping online allows you to compare prices across different websites, increasing your chances of finding the best deal for your desired diamond. Remember to research each retailer, read customer reviews, and ensure they offer a reliable and secure purchasing process.
Jewelers say you should spend the equivalent of 3-6 months of your salary on an engagement ring... but you do not, we repeat, do not, have to do that! Nicole shares three tips around how you can get a great ring without breaking the bank, and Nicole's EP Morgan shares how she and her fiance got 50% off the cost of their ring.
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