10 Tips for Buying an Engagement Ring

If it’s time to propose, head to the jewellers armed with these top 10 tips for buying a diamond engagement ring.

So you feel it’s time to pop the question, but you’re keen to present the love of your life with her dream ring.

Did you know that a ring with a 1 carat diamond can cost as much as 90 percent more than a solitaire with 1 carat split into multiple stones?

If you’re ready to start shopping for diamond engagement rings, don’t head off to the jewellers without checking out these 10 tips for buying an engagement ring.

1. Give the Solitaire a Miss

There are various ways to wear diamonds on a finger. A classic solitaire ring with, let’s say 1 carat’s worth of diamonds, can cost the whole earth. But a simple band covered with tiny diamonds that add up to a carat offers incredible sparkle and costs a lot less than a ring with a single centre stone.

2. Compare Settings

How a diamond is framed can have an impact on just how big it looks. A bezel setting, for example, makes a stone look bigger when set in a thin band of metal wrapped around the diamond.

3. Don’t Forget to Ask For Certification

If you’re looking for diamond engagement rings that weigh a carat or more, they should come with a gem report. The gemmologist’s evaluation will detail the diamond’s clarity, letter grade, carat weight, measurements and cut. Most gem reports come from the Gemmological Institute of America but some of the more specialised jewellers offer their own certificates too.

4. Understand Metals

The top choices for diamond engagement rings are gold and platinum. Platinum is pricier than gold but no doubt your bride-to-be is worth it. It’s a much more durable metal and will show fewer scratches over time. A lot of women prefer the warmth of the shades of gold bands, while others find yellow gold unflattering. Make sure you know your beloved’s preferences. You may also want to check out this article that describes the differences between gold purity.

5. Get the Ring Insured

How much it will cost to protect your investment will depend on factors like the value of the diamond engagement ring and even your location. If you’re in a major city, you will likely pay more. Typically, the annual premium will be around 1 to 2.7 percent of the appraised value of the ring even for those six figure diamond rings.

6. Have the Ring Numbered

Have the diamond’s certificated number laser-inscribed onto the side of the diamond. That way it can be easily identified should it be stolen or sent in for repair or cleaning. These inscriptions are visible under magnification and won’t affect the value of the diamond. Besides, there are insurance providers who will offer great discounts on inscribed gems.

7. Choose Smaller Stones for Bigger Savings

Before you go shopping for diamond engagement rings Melbourne in whole carat weights, realise that jewellers can charge a premium for those types of stones. If you’d prefer a stone that weighs in just under a carat or less, you could save as much as 30 percent or more – and the size difference is really insignificant.

8. Buy with the Thought of Trading Up

Sometimes couples like to replace their engagements rings after a few anniversaries. They often choose a grander model. So when shopping, find out if the jewellers will accept your current purchase as a part payment on a later ring.

9. What about a Custom Ring?

There are plenty of reputable jewellers who offer custom engagement rings that won’t cost an exorbitant amount. Sometimes the jeweller will require a minimum purchase or will bill you a nominal fee for preliminary work like sketches.

10. Shop Online

The diamond, or centre stone of the engagement ring, is the most expensive part of a traditional solitaire ring. It can account for nearly 90 percent of the cost. You can save money by buying your diamond online.

Before you start shopping for a diamond engagement ring, make sure you’re armed with these 10 top tips.