How to Save Money on an Engagement Ring

Gentlemen, you may shop for this important item alone or with your bride-to-be but you will need to do a little work before you pick out and purchase that ring. To save money on an engagement ring you will need to consider more than the initial purchase of the ring. Many jewelers provide services after the purchase that will also help you save money on an engagement ring in the future.

Things You'll Need

• Computer with Internet access

Instructions

1. Begin your comparison shopping online. The nicest thing about shopping on the Internet is that you can look at what the jeweler has to offer comfortably, without a sales person hovering over you. It also saves you money on fuel.

2. Find a diamond ring. You will probably want to purchase a ring with a diamond. You will want to consider the type of diamond and setting that you will be purchasing. There are several things to consider here. Diamonds are rated using three characteristics.

3. Know the characteristics. They are Cut, Clarity, and Color. The most brilliant of diamonds are round cut diamonds because this cut maximizes the light that is reflected by the open shape. There are also cuts like emerald, princess, marquise and teardrop.

4. Determine the clarity. This is referring to how many flaws the diamond has. The ratings are; Flawless (no imperfections), VVS 1 & 2 (very, very slight), VS 1 & 2 (very slight), to SI 1 & 2 (slight), and finally I diamonds (imperfect). I diamonds have a high possibility of cracking. To save on your budget you will want to stay in the SI 1 to VS 2 range, by doing this you will pay less than you would pay for a flawless or VVS 1, 2 diamond and the differences are not noticeable.

5. Determine what color to purchase. Color is the last factor. There are many different colors of diamonds. They range from colorless to yellow. The colorless is rated by D and runs through Z which is very yellow. You will save money on an engagement ring by picking one that has a J rating. The J diamond is the last rated diamond that is not obviously yellow.

6. Appraise the ring. No matter where you purchase your ring, online or at a store, you will want to have it appraised. Save money on an engagement ring by contacting your insurance provider. They will often be certified themselves or have an appraiser on retainer. Many of them do not charge for this service. A private appraisal will be an extra expense.

7. Find the correct size. Some jewelers will provide resizing at no added cost. However, if you purchase your ring online you will save money on your engagement ring by purchasing the right size. If you want to surprise your lady with this purchase, you will need to learn her ring size without giving anything away. You could ask a family member or friend but they are not likely to know and you run the risk of someone giving you away.

8. Know what added expenses come with the purchase of the ring. There can be added expenses after the purchase of your engagement ring. Most jewelers, even online, will offer a guarantee. You can extend this guarantee, making it more economical, by having the ring cleaned and checked yearly. Many online jewelers may have a contract with a jeweler in your area to provide this service at no added cost. Be sure to ask about this service in advance. If you neglect to have the ring checked and cleaned each year, your guarantee can become null and void. Replacing the diamond yourself can be as expensive as the original purchase.

9. White and yellow gold comes in 10K, 14K, 16K or 18K. 14K is harder than 18K gold. This means it wears better and does not scratch as easily. The 18K gold is more valuable because it has more gold in it. By purchasing the cheaper 14K you will save money on an engagement ring at the initial purchase and in repairs later on. Also, the softer choice could bring out more of the yellow in your diamond.

Tips & Warnings

• Here is a valuable hint that is not widely known; ask her mother or best friend what her shoe size is. More than 90% of us will have the same size ring finger as our foot, (in American sizes). If it is not to be a surprise, Internet jewelers will send you a ring sizing tool in just a few days.

• If you do decide to purchase an engagement ring online you will want to remember to take it to be appraised. You can find a GIA certified appraiser through a local jeweler. Make sure you have it appraised within 30 days.

• Something that you will want to keep in mind is that diamonds from some online suppliers are black market diamonds of questionable quality. It is advisable to purchase from an American based jeweler.