So you’ve decided to take the plunge and buy an engagement ring. How exciting! If you’re looking to get the best value for your money, it makes sense to buy your diamond engagement ring online. There is more selection and far less overhead than a brick and mortar store. Plus, you can shop while sipping your morning coffee in your pajamas if you really want.
You’ve decided on your budget and maybe even have a good idea what you want the ring to look like, but there’s so many different websites you don’t know where to start! Here are some tips so you can get the best price for a diamond engagement ring online:
Go Straight to the Source
A popular strategy when trying to save money on any item is cutting out the middleman. The more intermediaries you have to go through to buy your engagement ring, the more likely the price will be inflated.
You’ve got a tremendous opportunity to skip the retailer a.k.a. the middleman, and go straight to the source when you buy an engagement ring online. Buying from a manufacturer or wholesaler is the better option because they have the same selection without the markup. Some retailers can mark up their product 200-300% while you can buy the same quality product from the manufacturer without breaking the bank.
For Canadian buyers, it makes a lot of sense to buy from an online diamond jewellery store in Canada, to avoid unpleasant surprises. No one likes unexpected or extra expenses and that is a certainty if you buy an engagement ring from a foreign source, rather than in Canada. You may find a beautiful diamond ring that fits within your budget from a foreign site, but you have to factor in expensive shipping costs, customs, and brokerage fees. Suddenly that affordable engagement ring isn’t so affordable!
When you buy a diamond engagement ring online from a Canadian website, you know that you’re not going to get slapped with hefty additional costs when your package arrives at the door. ValiDiamond offers diamond engagement rings from Canadian manufacturers and has free and secure shipping across Canada so you can shop without wondering what hidden costs might be around the corner.
Although some people may not be comfortable buying a pre-owned engagement ring, if the concept of used jewellery doesn’t bother you or your partner, you can save a bundle by purchasing a pre-owned diamond ring. It’s not the same situation as buying used electronics or cars: diamonds don’t depreciate in value.
Do your research and find out all the details about the ring, but I wouldn’t worry about pre-owned diamond rings having excessive wear and tear. Diamonds are the hardest natural material and it takes immense effort to scratch or break a diamond. It’s not just a marketing ploy: diamonds are indeed forever!
Certified, like-new rings can be found on websites like ValiDiamond, I Do Now I Don’t, or Have You Seen The Ring, and there’s always general auction sites like eBay or Kijiji, although I would be careful on a site like Kijiji because anyone can post an ad without much vetting or verification required. Websites like ValiDiamond have safety features like payment and jewellery escrow, gemologist validation, and free shipping, allowing the customers to safely buy pre-owned jewellery online without coming in direct physical contact with the seller. Do your research and play it safe according to your needs.
Save money by avoiding brand name
For some, brand really matters to them. Maybe it’s because of the values the company stands for or it’s because they like the prestige associated with a brand. But for many of us, it is more important to have a quality or affordable product than it is to buy a specific brand. Buying a diamond engagement ring online that doesn’t come from a brand name source can be a way to save money.
Jewellery is no different than clothing in this sense. You can buy a black t-shirt from Gucci or the grocery store no-name brand, but the Gucci shirt is going to be much more expensive because it is known as a luxury brand. Whether the quality is actually better can sometimes be up for debate.
It is more than possible to find a gorgeous diamond engagement ring online that is not from a well-known brand, so if you’re not dead set on buying from a specific company, buying off-brand may be a good strategy.
Know when to compromise
Diamond quality is judged based on the 4Cs: Colour, Clarity, Cut, and Carat Weight. There are ways you can compromise on some of these traits and still secure a “good” diamond. It may not get you the “ideal” diamond, but you can easily save a couple thousand dollars and still walk away with a lovely, eye-catching engagement ring.
You don’t need to be a jewellery expert to understand the 4Cs, you just need to remember some important pieces of information to get by:
Colour: It is best to get a near colourless diamond. Diamonds get graded from D through Z, from D being completely colourless to Z having light colour. Unless you’re a professional jeweller or perhaps have superhuman hawk eyes, it is extremely difficult to tell a D from a G, or even an H, so you can save money by choosing a diamond with a little bit of colour.
Clarity: Clarity, which is the amount of imperfections or inclusions a stone has, is the easiest thing to compromise on, reason being, certain inclusions are impossible to recognize by the naked eye. You would need a microscope to see some imperfections! The best deals are to be found with diamonds that are graded SI1or SI2 (slight inclusions). Most inclusions would only be noticed with 10X magnification. The inclusions might be small but your savings could be big!
Cut: How a diamond is cut will determine how much the stone sparkles and a good cut can even hide some flaws and make the stone look more flattering. Founder of ValiDiamond believes that cut is one of the most important things to think about when shopping for diamond engagement rings: “The better the cut, the more optical size of the stone and better brilliance. If you have a tight budget, make sure you secure the finest cut that you can afford.”
Carat Weight: Diamonds and other gemstones are measured in carats. 1-carat stones are popular, and as such come at a premium. But, if you dip below that round number by going for a 0.95 or a 0.90 you can potentially save a couple thousand dollars. A round diamond, with a very good cut at an H colour and VS2 clarity goes for C$6,600 to C$8,700, while a 0.90 diamond, all other things being equal, would be between C$4,400 to C$5,700. It is good to be aware though that it can be difficult to find a diamond cut just below a carat as jewellers usually aim for the 1-carat since it is more desirable and easy to sell.
Customize with loose diamonds
Can’t find a ring that fits the picture (or the price) of what you wanted in a diamond engagement ring? There is always the option of purchasing a loose diamond and putting it in a custom setting. Loose diamonds can be cheaper plus there’s greater versatility in having a stunning round cut that you can put in any ring setting that suits your style.
Create a ring as unique as your partner! She will probably find it romantic that you made a special ring just for her to represent the special love that you two share.
Picking out an engagement ring is a big decision. If you’re looking for inspiration, browse the selection at jewellery stores so you can see what some rings physically look like, but then take your shopping online for the best price. Using the tips from this article and what you know about your partner’s preferences, you should be able to find a diamond engagement ring online that makes both your future fiancée and your wallet happy.
Ready to start shopping today? Check out the engagement rings online on ValiDiamond for new and pre-owned Canadian quality!
Written by Laura McClelland
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