When it comes to buying a diamond ring, there are a few tips which can save you some money. We share them with you below:
(i) cluster rings
A cluster diamond ring can give the appearance of a larger diamond but it is in fact a cluster of small diamonds. A cluster of say four 0.25 carat each princess cut diamonds in the shape of one 1.0 carat princess cut diamond is significantly less expensive than one 1.0 carat princess cut diamond – with a saving of up to 50%.
(ii) halo rings
Usually, a halo makes the centre stone look larger – for example, a 0.50 carat diamond in a vintage style halo setting can give the appearance of a 1.0 carat or even a 1.50 carat diamond as the extra bling makes the diamond stand out to a greater extent.
(iii) white gold
White gold is a good alternative to platinum and it is also less expensive. Platinum can go dull over time. White gold is easier to work with as a metal as it has a lower melting point (useful if you need the ring resized at a later date).
(iv) Buy the wedding ring at same time
If you purchase the wedding band at the same time as the engagement ring, most jewellers (we certainly do) give a good discount. If you also get the gents wedding band at the same time you can make additional savings. You also ensure that you find the perfect matching wedding ring (same width, same metal, same style etc). These concerns are not always obvious when you shop for you engagement ring but are important concerns when looking for your wedding band.
(v) Alternatives to diamonds
The second most popular alternative to a diamond is a sapphire. These are less expensive than diamonds and similar to diamonds, come in a range of quality. We have access to thousands of sapphires for you to view in our Dublin office.
(vi) Choose your 4 C’s wisely
The more rare a diamonsd is, the more valuable it is. For example, the rarest colour is ‘D’ colour. A ‘G’ colour for example looks very similar to a ‘D’ and can be up to 15% less expensive. Placing a ‘D’ and a ‘G’ colour diamond side by side, it is difficult to see any difference with the naked eye. However, placing a D diamond with a ‘J’ colour diamond would be more obvious with the naked eye as the ‘J’ colour may appear less white in comparison to the ‘D’ colour. A J diamond on its own can look very pretty and would look white – only if it was directly compared to a whiter diamond would it become obvious.
Clarity is another area where money can be saved. A ‘VVS1’ diamond can be very expensive with a ‘Vs2’ diamond up to 20% less expensive. To the naked eye, these diamonds can look identical with the inclusions only noticeable under a microscope.
Carat size is another area where you can save a bit of money on a diamond. A 0.90 carat diamond can be up to 20% less expensive than a 1.0 carat diamond and again, to the naked eye they can look identical. We specialise in locating diamonds with a good spread which appear larger than they are, while ensuring the diamond cut is very good or excellent. The ‘magic numbers’ as they are called are the carat weights which cause the price to shoot up. For example a 0.50 carat; 0.75 carats; 1.0 carat; 1.5 carat; 2.0 carat etc. A diamond just under one of these magic numbers can result in good savings.
(vii) Jewellers discount range
Most jewellers have a range of rings which they have in stock a long time and they will sell at a discounted price. We at Perfect Ring have a small selection of rings which we have in stock for a long time and we are willing to sell these at cost price. These may be styles that for example we purchased a few years ago and the style of the ring is quite unusual or unique and might suit the tastes of a smaller number of clients. All jewellers would have a range of in stock for a relatively long time which they would sell at a discounted price – they may not be as open about it however!