When couples announce their engagement, often there are other financial outlays to be considered, including wedding arrangements, a honeymoon, and for many, saving for a home as well. Little wonder that many newly engaged couples are hoping to spend a little less on an engagement ring and later on for the wedding rings. How can you save a few dollars with an inexpensive engagement ring that still ticks all the right boxes?
Stones. As a rule, diamonds are going to cost you more. However, once you start researching you will realize that there is plenty of leeway in diamond pricings. Selecting a smaller diamond, or one with slightly more color will dramatically drop the price. Does your diamond need to be perfect under a jeweler's loupe or just to the naked eye?
Another alternative is to select precious or semi-precious gems instead of diamonds. Those can be ideal for those who have a favorite color, or are seeking an engagement ring that is a little more unique. Almost any gem can be used as a stone for an engagement ring, although pearls and opals are a little more frail and do require special care.
Settings. Complicated and ornate settings will significantly increase the price of the engagement ring.
Metals. OK, first up, platinum is the very most expensive metal that you can use for an engagement ring. However, all is not lost if you admire that look. White gold plated with rhodium will give a very similar appearance but at a lesser cost. Better still, the white metal palladium is hypo allergenic, looks very similar to platinum, and is less expensive than white gold.
Where to Buy an Inexpensive Engagement Ring. Trying on a few rings in the flesh can be a great place to get an idea of what looks good on your hand. Once you have a basic idea of stones, sizes and settings, you will be able to start looking at jewelry websites.
The Internet is a fantastic place to start researching what your ring budget will buy. Most sites have their engagement rings displayed in specific budgets, allowing you to head to the appropriate price page straight up.
Even better are the sites that allow you to build your own engagement ring. This can be an excellent exercise in determining which factors you may be happy to compromise on or not, such as size, color, cut, or clarity of the diamond or gems.
Do you really need to purchase your ring from a prestigious jeweler? Once the engagement ring is on your finger nobody will be able to see that stamp which may have impacted heavily on the final cost. Jewelers working from the Internet have much lower overheads than those working out of a storefront with extra business costs. As a general rule, the jewelers with the lower overheads will convert their lower business outgoings into a lower priced item.
Andy Moquin has spent 20 years in the jewelry industry with much of his experience in polished diamonds, engagement rings, wedding rings, rings and custom jewelry design. He is an accomplished business consultant and is available for advice on topics such as marketing, advertising, merchandising and business turnarounds.
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