Convention demands that an engagement ring should be a diamond ring and you do know that diamonds do not come cheap. A beautiful engagement ring does not have to cost an arm and a leg as long as you know how to buy a cheap engagement ring.
Here are some tips how to buy a cheap engagement ring to help you get the best value for you dollars.
Tip #1: Buy loose diamonds
Diamonds that are already set can cost much more than a loose diamond not inclusive of the ring metal costs. Many a times a set diamond flaws can be hidden by the prongs and/or its color be enhanced by the setting making appraisal difficult. On the other hand loose diamonds are easier to appraise and ascertain its value.
Tip #2: Buy from dealers
If you can, buying from dealers can help you avoid the high markups that jewelry stores include into their prices. However buying from dealers can be a problem for most of us unless you have contacts.
Tip #3: Buy online
Perhaps buying your loose diamonds online is one of your best options as online prices are very competitive with plenty of options within just about any reasonable budget range. Just know how to buy diamonds safely online and you will get a beautiful but cheap engagement ring.
Tip #4: The best approach on how buy a cheap engagement ring is to learn the 4Cs the trick here is to learn the difference between quality and apparent quality and apply it. The four Cs are
- Cut: The cut grading is what determines the brilliance of the diamond. The diamond prices significantly increases with every increase in the cut grade. Do not go below a good grade however or your diamond will noticeably lose its brilliance.
- Color: The color grading determines the color of the diamond which ranges from the rare and expensive colorless to the cheaper light yellow. Down grading a step or two will not be noticeably different from the one you choose but will result in significant savings.
- Clarity: The clarity grading is for inclusions present in the diamond it does not affect the brilliance. Therefore costs can be greatly reduced by simply choosing one that is eye-clear.
- Carat: The price of a diamond does not rise smoothly with the rise in carat. A rise in carat that reaches a whole number or exactly half (0.5) will show significant jump in the price. Therefore to buy a cheap engagement ring, buy a diamond that is just shy of the carat you want.
Tip #5: Shape can make a diamond seem larger.
The shape of a diamond depending on the type of cut can make a diamond larger. For example a Princess Cut diamond of the same carat as a Round Brilliant Cut diamond will look much larger. Also a Princess Cut diamond has the second best brilliance therefore choosing it will save you huge costs in term of Carat value.
Tip #6: Choosing the metal
You may want to consider white gold as it costs about half the price of platinum. Also it is almost impossible to tell the difference between 14K and a 15K white gold. So if you are looking at how buy a cheap engagement ring, go for the 14K.