Planning to pop the question, or gifting her diamond studs or pendant for your anniversary or her birthday? You'll need to choose a diamond before you surprise her, and when it comes to buying jewelry, it's easy to make costly mistakes.
To ensure that you're getting the best value for your budget, here are our money saving tricks from experts at Gemsatelier.com.
1. Buy Diamond just shy of critical weights
Carat weight and size are important when you are buying a diamond. Diamonds are priced per carat and the pricing depends on that threshold.
Therefore, diamond prices increase exponentially with weight, since their prices increase both due to the increased weight and due to the higher price per carat for the increased weight category.
Since diamonds are a retail product driven more by emotion than reason, a 0.99ct diamond is worth only about 1% more than a similar diamond weighing 0.98ct. But a 1.00ct diamond is worth about 20% more than a similar 0.99ct diamond.
2. Go for GIA certified diamonds
If you're truly looking for value for money, GIA is the most consistent grading lab and has the highest grading standards. Other labs are inconsistent and carry noticeable discounts for a reason. Don't be fooled!
3. Buy your diamonds online
You can see upwards of 20% price differences between online and in-store prices. Online jewelers are extremely price competitive and so the markups are actually very low. By buying online, it is not just that the store is "saving" money on sellers and rental space, you also get infinite design options.
When coming to a store in order to examine a diamond for an engagement ring, you are usually limited to the supply that there is in the store. As big as the store may be, it will not have thousands of options to show you as some of the websites have. The advantage is obvious - there is a diamond for every craving and every budget. Some people want to buy a half a carat diamond but budget enables them to buy 0.45ct and some have their mind set on exactly G color and SI1 clarity because it is what their friend recommended. Whatever the reason is, usually, only online stores have the selection to support it.
4. Opt for fancy shapes
Fancy shapes (shapes other than traditional round) are significantly less expensive and more trendy. Simply because round is the most popular shape so it's most in demand, hence the premium that you pay for a round. Also, a diamond cutter's job is to preserve the maximum amount of weight. Rounds lose much more carat weight than other shapes, so they carry a premium.
5. Go for 14k gold instead of 18k
18k is 75% gold, and 14k is 58.3% gold.
It is almost impossible to tell the difference between 14k gold and 18k gold just by looking at them. 14k gold is the most common type of gold in the US, and is used in approximately 90% of wedding bands. It is preferable for people who live more physically active lifestyles, as it is more durable than 18k gold and cost effective.
6. Stay away from branded jewelry
Avoid branded jewelry and designs. Any design can be custom made and any design created as close to the original as possible. There are huge savings when custom making a design so I definitely recommend that route if you like something branded outside your budget.
7. Go for diamonds in G-I colour, VS1-SI1 clarity range and very good to excellent cuts.
Diamonds in G-I colour, VS1-SI1 clarity range and very good to excellent cuts offer the best value for price. The imperfections are rarely visible to the naked, untrained eye and the coluor is hardly distracting. Round diamonds mask color much better than fancy shapes, so if you are going for a fancy shape go for G colour or higher.
The cut of the diamond is what makes it sparkle, so don't compromise on that, go for excellent is our recommendation.