When buying an engagement ring, most people want a high quality ring but don’t want to have to break the bank to get it. There are many factors that determine the cost of an engagement ring. These include; colour, clarity, cut grade, carat weight, the metal of the setting and if the ring is certified. When buying a ring it is important to know what factors matter most to you and which you would be willing to compromise on in order to meet budget constraints
The factor which when attempting to meet the target price should be compromised on first is the carat weight. By lowering the carat weight, you are lowering the size of the diamond and in turn, lowering the price. The price differential between a 1,0ct diamond and a 0.5ct diamond is large but by reducing the carat weight, you reduce the overall sparkle effect but maintain the quality of the diamond.
Another factor that is easily compromised on to lower the price of the ring is the metal of the setting. Platinum is a more expensive setting than say, white gold or rose gold.
Some may choose to not opt for a diamond and instead go for a high quality gemstone or moissanite (a mineral that has a remarkable resemblance to diamonds). By doing this, you achieve your high quality ring and at the price that works.
To ensure piece of mind when buying the ring it is important that you are provided with a certificate from an independent third party such as the GIA, IGI or HRD. The cert should state the true characteristics of the ring, thus solidifying the value of the ring and letting you know that you are, in fact, receiving a high quality ring at the right price.
Therefore, when setting out to buy a ring it is important to know your budget and the maximum you are happy to spend on a ring rather than just a vague idea. A buyer should also know what features of the ring matter the most to them, is it to attain maximum sparkle? A high carat weight? A platinum ring? By knowing your requirements going into the jewellers it is much easier to find your perfect ring.