Learn about some of our favorite diamond alternatives below.
Diamond wholesalers
For the brave, the absolute cheapest way to buy a diamond engagement ring is to buy a loose stone from a diamond wholesaler. To do this, you'll have to live in or travel to a major city like New York and visit the diamond district in person.
Take your time shopping. If you can't afford an engagement ring, you'll want to get the best price that you possibly can. The only way to know that you are buying the most budget-friendly option is by doing your research and browsing through many different online stores before deciding on a ring.
According to recent surveys, most American couples expect to spend between $1,000 and $5,000 on an engagement ring. The actual average cost for an engagement ring is over $6,000. With all that said, most women are reasonable and just.
Moissanite. Moissanite is a form of silicon carbide and is usually produced synthetically. Because of its hardness (9.5 on the Mohs scale), it is perhaps the diamond imitation material that is closest to the real thing in terms of durability.
For example, most white diamonds are discounted in price when more yellow hue is detectable, while intense pink diamonds or blue diamonds (such as the Hope Diamond) can be dramatically more valuable. Of all colored diamonds, red diamonds are the rarest.
James Allen diamonds are affordable because they do not house their own diamonds, they are completely internet-based, and have such a huge inventory. The money they save on overhead allows them to offer lower prices to their customers.
Tiffany will not negotiate on price and they don't offer one-year financing, although I think they offer some sort of shorter-term payment plan. When you buy Tiffany engagement rings, you pay a huge premium for the name. ... They don't--not for engagement rings, at least.
Negotiate
Jewelry is a prime candidate for price negotiation, because it's expensive and the margins are fat. The way to do it is the same way you'd negotiate for anything: First, make sure you're dealing with someone who can actually make a decision. Then, tell them you're trying to decide on what they have vs.
*Minimum payments are required for each Credit Plan. Valid for single transaction only.
...
| Buy Now, Pay later | |
|---|---|
| Minimum Purchase Amount | $150 |
| Initial Payment | Depends on Purchase |
| Payment Term (Complete by) | $150-$400: 6-8 Weeks♢ $400+: 3-6 Months♢ |
| Special Offers and Benefits At Zales: | |
You do have the option of financing a ring with a loan arranged through your jeweler. Using loans to make major purchases and keep cash on hand can be a smart financial move, and in some cases, the loans offered by your jeweler may fit your needs.
General Rule: You should spend at least 2 months salary on the engagement ring. If, for example, you are making $60,000 per year, you should spend $10,000 on the engagement ring.
Yet No Comments