There are a ton of ways to save money on diamonds.
I should know, after working in the industry for over 30 years, I wrote a book about it; 101 ways to save money on diamonds.
But here are the TOP 3:
1) Wait for a Sale!
Seriously! All diamond rings go on sale eventually. And jewelers and dealers often have multiple sales a year. So if you’re not in a rush to propose, then wait, and SAVE. Good times to wait for are Black Friday, Christmas, and Bridal Season (March-May). Just like James Allen did last Thanksgiving…
2) Break the Carat Weight UP!
Instead of buying a 1.00 carat diamond (single diamond, which is the “dream” carat weight), break it up. Buy 1 carat TOTAL weight instead; meaning, the entire ring; center stone and side stones, total 1.00 carat combined. That saves you money. And the smaller the center stone, the cheaper the ring gets. See the examples below:
This is why Halo Mountings are so awesome. That extra circle of diamonds around the center stone makes it look bigger and brighter. I highly recommend them.
3) Go Fancy!
Fancy cut diamonds are diamonds of every shape, EXCEPT the round. So the princess cut, radiant cut, heart cut, oval cut, pear cut, cushion cut, emerald cut… are all fancy cut diamonds. And all cheaper!
They are generally 20%-50% cheaper. That’s a lot of savings!
Other Ways to SAVE:
- Buy SHY: Instead of buying milestone carat weights, like 1.00, .75, .50, .25, buy slightly smaller. Buying smaller will cut costs, without cutting any visible appearance. So buy .95, .71, .45, .22, and you’ll save hundreds of dollars.
- Layaway: Utilize layaway if the jeweler has one. Layaways are FREE (no interest), and allows you to pay on the ring monthly, and leave it in as long as possible until you need it. At that time, you can then pay off the balance, or finance the rest (if they have an interest free finance plan, go for it!)
- Lab-Grown: Lab grown diamonds are gaining popularity big time. They are REAL diamonds, just grown in a laboratory (versus Earth). And right now, they’re about 1/2 the cost (check out lab-grown diamonds here at James Allen).
- Buy Online: Online has little overhead, so diamonds are usually much cheaper than any mall store. Places like James Allen and Blue Nile have the best deals on loose certified diamonds and settings anywhere online. Make sure to check them out:
So there you go…
Tips and tricks to saving a ton of money on your next diamond ring purchase.
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