Four Money Saving Tips for Buying Diamond Jewelry

Whether you’re it’s for a birthday, an anniversary, or a proposal, diamond jewelry are the best go-to presents, especially when the important date is just around the corner. Unfortunately, anything with diamonds on it is practically synonymous to extremely expensive. It’s not just something you can casually buy on a regular day, but desperate times call for desperate measures. The best way to minimize the damage (to your bank account) is to be in the know about purchasing diamond jewelry. Here are a few tips help you out of your dilemma.

Get Wise to the 4Cs

The value of a diamond is appraised based on four qualities (4Cs)—cut, color, clarity, and carat. Most people think that the bigger the diamond the better. That’s not always the case at all. You’ll save more money on a diamond piece once you get wise to the 4Cs.

  • Cut

The cut determines how much light that goes into the diamond is reflected. In other words, it’s the key to its brilliance. You can compromise on the other qualities, but never on the cut. Typically, diamond cuts are graded excellent, very good, good, fair, or poor. Buy the best cut you can afford. An excellent cut gives the most sparkles, but it’s also the most expensive. Opt for a diamond with a very good cut. It’s nearly as brilliant as those with highest cut grade but is sold at a lower price.

There are different kinds of diamond cut, but for optimum sparkles, the round and princess cuts have the most ideal shapes for reflecting light.

  • Color

Not all diamonds are absolutely colorless. Some appear yellowish while others have a hint of frostiness. The color of the diamond is graded from D to Z, with D being the highest grade (meaning completely colorless and the most expensive) and Z the lowest (with light but noticeable color). Strike for something a little below the perfect score, like a G or H. Your partner won’t notice a difference unless they’re a diamond expert or have exceptionally sharp eyes.

  • Clarity

Clarity indicates the flawlessness of the diamond. A diamond with a FL (flawless) rating means that it has no blemishes or inclusions visible after being examined under 10x magnification by an expert, which makes it the most high-priced. The lowest grade is I3 (included), which is given to diamonds with obvious blemishes and inclusions that are even visible to the naked eye. An S1 or S2 will do well. Even if the diamond has some inclusions, it will only be visible under a magnifying glass or to an expert’s discerning eyes. You can check out this diamond clarity scale to understand the differences of each rating.

  • Carat

The weight and size of the diamond is measured by carat. Contrary to popular belief, diamonds are not all about the carat (unless you’re really aiming for a bigger size). You can save on buying a diamond piece by opting for a carat that’s not a whole number. So instead of going for 1 carat, opt for a 0.95. You won’t notice a difference in size, but you’ll see the difference in the price.

Don’t Pay for the Brand

One big mistake when it comes to buying jewelry is going for a well-known (and overpriced) brand. Diamonds are expensive by themselves, but if you add the brand, the price will immediately soar. Of course, some brands do something special to set apart their products from others, but that’s hardly a reason to buy something you can’t really afford. Instead of buying from well-known shops, go for less popular but reputable jewellers instead.

Shop Online

If you ask experts about how to save money on diamond jewelry, they will tell you one thing: shop online. Most online jewellers get their product directly from the manufacturers, so they save a lot of money by not going through middlemen. Moreover, running an online shop or a website does not cost as  much as a physical shop. These and a few other reasons allow online jewellers to price their products lower. You can get diamond rings at wholesale prices at online shops and take advantage of promo codes and discounts the offer.

When shopping online, ensure that the jeweller is reliable and their products are authentic. Read reviews and talk to their customer service. Ask them about where their get their diamonds and why their products are cheaper than the norm. Remember to inquire if there’s anyway for you to check the goods in person.

Consider Buying Pre-Owned

Buying a pre-owned diamond jewelry can either a complete hit or a devastating miss. Some people may balk at thought of getting something that someone has already used, but that’s exactly the charm of buying pre-owned jewelry. Unlike most things, most jewelry last for a lifetime or several. They can go through different hands and collect their own stories. If your partner has no qualms about wearing pre-owned jewelry, then go for it. Just keep in mind these helpful reminders to make sure get an authentic piece at the best possible price.

Find the Best Deals

If you’re shopping on a holiday, there will surely be discounts. Don’t be lazy. Browse through several shops to compare prices. Never ever buy on your first visit to a store. One diamond piece can cost thousands of dollars, and you can save hundreds (or thousands) if you look around for better deals. Search for coupons if you’re shopping online, and check if your credit card have these perks.

If all else fails, be bold and ask the jeweller for a discount. A lot of store managers and and even salespersons have the authority to give discounts to convince customers to buy their products. This may not work on major chains, though. Some jewellers also give discounts if you pay in cash or if you buy a set pair.

Final Word

You may be panicking and rushing to buy that diamond piece, but that’s no reason to make an ignorant purchase. A diamond jewelry may be one of the most expensive purchases you’ll ever make so do your research to make sure your money is well-spent.

Remember that when it comes to diamond jewelry, size isn’t everything. Learning the 4Cs (cut, color, clarity, carat) will save you from making a potentially very (very) expensive mistake. Don’t be afraid to go out of the box. Shop at lesser known stores or go online. You’ll find a lot of authentic products at more affordable prices than the ones in branded or physical stores.

 

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