The Tamesis
When you have a clear idea of who or where you want to buy your engagement ring from, have a rough idea of what you want in the ring. Explore metal types like gold or platinum, different shapes and styles of rings, and natural and lab-created gemstones. If you know your partner is a true diamond lover, ask your jeweler about the “four Cs”, which are cut, color, clarity and carat weight. Together, these factors determine the overall appearance and value of the gemstone. For example, a gem with higher clarity may not have any visible inclusions, while a gem with lower color may have a warmer tone. It’s important to determine which “C” is most important to you, as this will affect the price of the ring. You should also make sure that the gems you are looking at are GIA graded, as the value of these gems is truly verified.
A jeweler may be able to provide advice on how to find the best balance of “C” to get a stone that fits your budget. For example, carat weight is often one of the biggest factors in price increases. If you want a 3 carat stone, finding a stone just under that weight (around 2.8 or 2.9 carats) may significantly reduce your costs.
Consider different metals
Just as the price of a diamond varies depending on its quality, so does the metal that holds the ring together. Platinum is the strongest and most durable metal and is generally priced slightly higher due to its strength. But you might prefer the gold color of your companion ring. The price of gold can fluctuate depending on the market, so it’s important to consider its current exchange rate when you’re shopping. “With the high cost of gold, metal selection definitely plays a larger role in price,” Landau noted. “Also, with heavy gold settings becoming so popular these days, the heavier the metal, the more expensive the ring will be.”
Consider Pricing for Lab-Grown Diamonds vs. Natural Diamonds
If you want to buy a larger diamond on a budget, you may hear friends recommend that you consider lab-grown diamonds. These gemstones are nearly identical to natural diamonds (that is, diamonds that occur naturally and are mined in nature), but they are produced in factories at a fraction of the cost. While lab-grown diamonds are worth much less than natural diamonds, you can find diamonds of better cut and clarity for a higher price. Choosing natural or lab-grown diamonds comes down to a matter of preference regarding their origin and value. If you prefer a natural diamond engagement ring, you should consider spending approximately four times the cost of a lab-grown diamond.
Don’t be afraid to compare prices
You see, there’s no need to say “yes” to the first tone, or even the eighth tone. Check out other wedding ring designs that vary in price, or if you have a specific design in mind, ask multiple jewelers for their prices. Many well-known brands have higher price tags, so working with a jeweler in your local diamond district can often get you the best price for quality. There’s no shame in knowing about high-quality jewelry, so why be afraid of knowing the price? Even though you know what the average nationally is what people spend on engagement rings, that doesn’t mean it applies to you. Gather a reasonable price range for the type of ring design you’re interested in and proceed with confidence.
Store jewelry sales
It’s entirely possible to avoid paying full price for an engagement ring. In fact, many jewelry brands run sales year-round on Black Friday or other big holiday weekends. It’s a good idea to do some research to find out which jewelers have historically held sales at specific times, and even ask the sales associate you work with if they have any upcoming sales. When working with a diamond dealer, you can also do some haggling on the price of the ring. After all, even with a 25% discount, that incredible ring still looks exactly the same.
Consider alternative gemstones
FYI: An engagement ring does not have to have a diamond center stone. If you want a more original ring, you might consider gemstones other than diamonds, such as rubies, emeralds, sapphires or other colorful birthstones. These options can be as stunning as a diamond ring while also feeling absolutely unique. Before proposing with gemstones, you may need to tactfully communicate the idea to your partner to ensure they are okay with the decision.
Check out vintage rings
Don’t overlook vintage or antique engagement rings! Not only are these pieces of jewelry beautiful and captivating historical pieces, they are often less expensive than modern jewelry. There are many aspects to consider before buying a used ring, such as deciding on a preferred era or understanding any changes the ring has undergone over the decades. Your perfect ring might just be an Art Nouveau gold band.
Meet the experts
Olivia Landau is the founder and CEO of The Clear Cut, the largest all-natural digital diamond jewelry company in the United States, specializing in custom bridal and everyday fine jewelry. A fourth-generation diamond expert and GIA Graduate Gemologist, she started The Clear Cut as an educational blog and then transformed it into a direct-to-consumer brand.
