Last Updated on November 28, 2022 by Faiza Murtaza
When we hear, read, or think of diamonds the first thing that comes to mind is ” expensive ” and that is not entirely correct. Especially with the emergence of lab-grown diamonds, we can clearly say anyone can buy diamonds. Let’s dig into tips and ways to get your diamond at the lowest price.
Where and How to Get Cheap Diamonds
There are a lot of things to keep in mind when shopping for diamonds on a budget. Some of them are;
1. Engagement Ring Settings
Avoid buying rings with large diamonds to save money when buying engagement rings. If you desire a large stud, go for settings that make the diamond look more prominent. Examples are bezel settings, diamonds with elongated shapes, and diamond halos.
Bezel settings make the diamond bigger by circling it with a metal that amplifies the stone. This metal could be gold, white gold, or platinum. Ensure to pick a suitable metal that is budget-friendly.
Diamond shapes such as marquise and oval have elongated shapes, which make them look bigger. For example, an oval 3-carat diamond ring can look more prominent than a 3-carat round diamond ring. Before buying an engagement ring, check the ring size chart to get the best size that fits that special one.
You can get a ring-size chart online and discover your ring size. All you need to do is download and print the image of the chart in its original size. With the aid of a ring size chart, there are several ways to determine your ring size. They are;
Using a paper strip
Cut out from the printed paper the part that contains the ring sizer. Wrap the paper strip around your ring and adjust for proper fitting. Check the numbers facing outwards to read your ring size.
Using a piece of string
Cut out a piece of string and wrap it around your finger. Next, cut off the excess string so the two ends can meet. Then, place this string on the ring chart and choose the size that the string circles entirely with the end touching each other.
Using a ring you have
Get a ring you already have and place it on the ring size chart. Then, find your ring size with the best size that matches the ring.
Remember, choose the larger size if any technique you use gives two different sizes.
2. Online Shopping
The last three decades have brought about many jewelry establishments. From independent jewelry stores to mall sections, the popularity of these shiny adornments continues to skyrocket worldwide. These elegant stores pay considerable money to get online magazines and TV advertisements. Then, to gain their money back, they spike the price of engagement rings and diamonds for twice the amount.
Don’t get it wrong; there is nothing wrong with going to physical stores to check things out. Doing so gives you an idea of the style of diamond you prefer. You can also compare prices to know how much you are willing to spend.
Still, online is the best way to get affordable diamonds for fair prices. That is because you have access to a larger catalog and can go over prices fast. Searching online for cheap diamonds for your engagement rings might sound scary, but it’s not. The fact remains that online retailers sell their gems for lesser amounts.
This is due to the sourcing and circulation pattern, which makes these retailers buy these gems for less. For example, they could buy diamonds in large quantities or a particular style of diamond. Plus, online vendors can source diamonds from various wholesalers. Therefore, these wholesalers, keep extra prices to the minimum.
Also, they skip paying for rental stores, distribution, and warehouses. All these extra costs, when cut off, bring the price to the limit you can afford.
Another factor for the price hike for diamonds at physical stores is the workers. Store owners will have to pay their employees at the end of the month. Also, these salespeople in these stores can spot a novice in diamonds.
If you are clueless about diamond merchandise, you can get swept away into buying something else. Plus, the diamond bought will be way above your budget. But, these salesmen convince you that it is much more elegant and fashionable.
They sweet talk you into agreeing with their point of view. Thus, coaxing you into making a quick and sometimes flawed decision. This singular act is very common among salespeople. But, not all salesmen in the diamond field go down this path.
So, with all these tactics, it is safer and cheaper to shop for a diamond online. They are more affordable, and you are at liberty to get what you want without getting dazzled. With all the extra charges removed, you can save up to 50% on online diamonds. Yet, this figure will differ depending on the site you patronize.
3. Look Into Lab-Created Diamond Rings
Apart from purchasing naturally grown diamonds, you can try other forms of diamonds. For example, lab-created diamond rings are affordable and will help you save money. Note, that natural and lab-created diamonds have the same physical and chemical structure.
If a natural diamond and a lab-created diamond are together, you will not be able to tell the difference. Even trained jewelers will find it difficult to distinguish under a microscope. However, since lab diamonds are not mined from the ground, they are cheap and can make you save 60% of your diamond budget.
Now, you are wondering about the creation process of lab-created diamonds. The raw material used in making these diamonds are tiny carbon seeds of former diamonds. These carbon seeds receive a high level of heat, pressure, or deposition in a laboratory.
This procedure is similar to the typical diamond formation process. Also, when trace elements are present in the growth period, it produces colored diamonds.
There are several advantages of lab-created diamonds. Some of which are;
- They are cheap and affordable
- Look more stunning than natural diamonds
- Have higher purity
- Contain little to no defect
- Compatible with the environment
- The creation of colored diamonds, which are rare in nature
Inclusions are imperfections on diamonds. Their presence leads to a reduction in the diamond’s price. Examples of such inclusions are minor cracks and spots. These defects affect the grade clarity of the diamond. It consists of FL (flawless) to I3 (apparent flaws).
Note that diamonds with little or no inclusions are expensive and rare. This is because some of these inclusions are too little for the eyes to see. Diamonds with these features are eye-clean. What this means is that you can get a diamond that seems flawless for a lesser price.
The best diamonds to buy are those with VS1, VS2, SI1, or SI2 clarity grades. You get good quality for a budget-friendly price. These grades are eye clean and stay at the midsection of the clarity grade.
You might raise an eyebrow at this shopping technique, but it still works. Diamonds retain their brilliance no matter the length of time. So, shopping for fairly used engagement rings is a smart move. You save a lot of money and still get an engagement ring with a beautiful diamond.
If you had previously bought any diamond jewelry, it might have been a used one. This is because most jewelers sell already used diamonds. Also, some individuals trade their diamond rings with these jewelers for money. So, jewelers consistently have used engagement rings to sell, and the circulation of used diamonds continues.
Now, the moment a diamond is purchased, the value of that item drops, even if it is for an occasion. After purchase, the engagement ring is worth 25% of the initial cost. So, rather than buying a new engagement ring, you can save up to 40 to 70% with a used one.
There are several places to look into when searching for cheap diamonds. You can shop online or buy lab-created diamonds. You can also buy rings with settings that make the diamond look more prominent.
All these tactics will give you elegant diamonds while saving money. But, before you buy an engagement ring, make sure to check the engagement ring size chart for a suitable fitting.