How to buy a diamond engagement ring on a budget?

A common piece of advice that you will find on the Internet is that you need to spend as much as two month’s salary on an engagement ring. But that doesn’t make any sense. You shouldn’t be following a specific rule while trying to decide the budget. Instead, you need to spend what you know you can afford. 

There’s no point in getting a loan or debt in order to get an expensive ring. You can show your commitment without breaking the bank. If you are looking to purchase a diamond engagement ring, you can save a significant amount by following these tips from Emily, who writes on topics like diamond jewelry and engagement rings in Dubai. 

Picking the right Diamond Shapes

Round-cut diamond rings are usually the most popular but these are not necessarily the most affordable ones. Brilliant cuts like round diamonds or chunkier cuts like princess or cushion shaped diamonds are always more expensive. If you want a cut with the same brilliance but lower price then go for marquise, oval, or pear-cut diamonds. Other fancy shapes like rose or emerald rings are also comparatively cheaper. They may not depict the same scintillation or brilliance as the other, more expensive cuts but these rings can look equally stunning if you are working with an experienced diamond curator.

Choose Diamonds with Slight Fluorescence and Lower Clarity

These parameters of measurement are important for grading diamonds for experts. But most of these have minimal value for the common man. The highest quality diamonds do not emanate fluorescence. The ones that do are rated lower in quality and come at a lower price point. If you buy a diamond with some amount of fluorescence at a cheaper rate, you are still making a fair bargain. This is because the fluorescence cannot be detected by the naked eye so you will save money without compromising too much on the looks.

Clarity denotes the black spots where there is no reflection of the light entering the diamond. Some of these can only be detected through a magnifying glass. That is why they are graded as flawless or have very slight inclusions. If you can opt for a diamond with small inclusions, you will save a significant amount.

Getting the Carats Right

An average engagement ring can be from 0.5 to 2 carats. Different diamond cuts of the same carat weight can have variable costs – with the round and cushion-cuts being on the more expensive side.

Small adjustments like choosing a carat weight of 1.90 instead of 2 carat can significantly reduce the overall cost and it will look quite similar to a 2 carat ring. People tend to confuse carat weight with the size of the diamond and end up spending more.

Use the Settings to Your Advantage

If you are going for a light weight diamond, you can make it look bigger by opting for a halo setting. Three stone settings can also do the trick or getting smaller diamonds in a channel or bezel setting makes the ring look unique and expensive. All the while, saving massive bucks. All you need is talk to your diamond curator and they will be able to help you design a custom ring.

Buy Loose Diamonds

When you are buying a diamond ring, you are not only paying for the diamond or metal but the maker’s efforts. Sometimes, buying loose diamonds and getting your own creatively designed ring can help you save some bucks. The less they have to work, the more you will save.

Do Not Buy from High-End Retailers

Most high-end retailers are usually selling the brand and not the item. There are added costs of the overhead, marketing, and rental expenses. Steer clear of these outlets especially if you’re on a limited budget. Try to find a good deal online but make sure you are purchasing certified diamonds from a reliable business.

It is always better to compare different options and talk to different vendors. Do not hesitate to negotiate until you and the seller are on the same page.