Engagement ring shopping isn’t something you do everyday. If you’re lucky, you do it once in your lifetime. If you’re brave enough to move on after a failed first attempt (been there,) you might do it once or twice more.
Luckily, we live in the age of the internet, which allows us to access insider information like the following money-saving tips from Oded Edelman, co-founder and CEO of James Allen. James Allen is an online jeweler with a ten-year history of bringing customers beautiful, conflict-free diamonds at a fraction of the price of brick-and-mortar retailers.
Here are Edelman’s top three savings tips.
Save Money by Shopping for Your Engagement Ring Online
“Typically brick and mortar retailers have entirely different cost structures thanks to holding inventory, overhead costs, etc,” says Edelman.
He notes that these cost structures may result in higher costs for the end consumer, and that by shopping at online retailers like James Allen, you can save up to 50%.
Look for Underweight Diamonds
Most diamonds are going to come in standard carat sizes. For example, you might find a 1.0 carat diamond or a 1.5 carat diamond.
“Look for an under-size diamond—one that’s slightly below one of the standard weights,” Edelman advises. “These diamonds cost significantly less than their standard-weight counterparts and are nearly identical to the naked eye.”
Get the Most Bang for Your Buck by Shopping Color and Clarity
You want to get a nice ring, and you can do it without breaking the bank. In fact, Edelman notes that the best way to achieve optimal value is by shooting for slightly lower than optimum color and clarity. These differences are minuscule–most of the time they’re not visible to the naked eye. But they make a huge difference to your wallet.
Which means you’ll be looking at rings in these ranges:
- Color. Shop for rings with slightly lower colors–in the G to J range.
- Clarity. Shop for rings with slightly lower clarity–in the SI1 to SI2 range.
“They can cost half as much of high color/high clarity options, without any visible sacrifice in beauty,” says Edelman.
Now is a great time to shop.
Find any of these tips helpful? Use different methods to save on your engagement ring purchase? Leave your story in the comments!